My wife was going to help me with payments, so I got her logged in online, which I hadn't done since the $283-payments came out of my checking account the 5th of each month.
She pointed out to me that the load was at 135% and only $4-$5 of each payment went to the principal, the rest to interest. According to the online statement not until Oct. 2018 would we START paying on just the principle. So, around June 2019 the loan would be paid off, which makes it out to be a total of $10,000 plus for a $2600 loan I was making almost $300/mo automatically taken from my checking account.
This is a total scam and should be reported! I got the runaround every time we asked if we could make extra payments to go towards principle and never got a straight answer. My wife made one $200 extra and it went straight to interest.
Thank God my wife borrowed from her 401k and paid them off for $2,060. I told them to lose my number and blocked them from my account.
Bottom Line: No, I would not recommend this to a friend
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Thank you for taking the time to post your review as well as your comments regarding the terms of your loan. We always encourage our customers to pay off their loans as quickly as possible to pay the least amount of interest.