PDL Loan question
Date: Wed, 12/26/2012 - 11:38
Does the interest from past illegal PDL loans count towards the pricipal of current loans?
Here is an example:
Here is an example:
Peppercash
Past loans - 7-2011 to 2-2012 (5 total loans)
Total Amount Borrowed - $3600
Total Repaid - $5733.75
Lastest Repaid - 2-2012 to 12-2012
Orig Amount Borowed - $1000
Total Repaid - $4737.50
Current -
Orig Amount Borrowed - $1500
Repaid - $0
In this example I want to request a refund for the interest. But more than likely they won't return it. But should I pay the principal of the current or cover it with the owed amount from the interest from the latest loan just paid off (and perhaps the loans prior to that also?).
Any info is appreciated.
Thanks
That is how I presented mine
That is how I presented mine with both Plain Green and Great Plains. So if my calculations are correct - borrowed total - $6100.00 - repaid total $10,471.25 = over payment of $4371.25. this would be the amount you would be asking for refund with a PIF on the last loan.. They will argue, stay strong.
