Hello,
i read alot of posts here re: short term loans. I been in that situation many times, belive me. I currently have loan with M1Y and the original loan amt was 300....interest was 90 at the time which was taken out first time around. Then, they keep charging the same interest until you "pay down" the principle. I hve only paid down twice, and they reduce the interest by 30 dollars every time you pay down. I have yet to pay down the rest of the principle and now the 30 dollar interest is taken out every pay period. I shudder to think how much i paid into that company.