- Report: #300696
Complaint Review: Triad Financial - Huntington Beach California
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Triad Financial
7711 Center Ave Suite 100 Huntington Beach, 92647 California, U.S.A.
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Triad Financial Owe more then I borrowed?? Huntington Beach California
Hi I have a question I just got a 8000 $ loan from triad (roadloans) at 21.29 percent interest I made my first payment 2 weeks early I paid a extra 52 dollors to pay off the balance early. I looked today and online it says I owe 8021.62. I just mailed my second payment in also 2 weeks early and 50 more then the balance. Why would my balnce be more then what I took out if I paid extra ? Also I called triad they said they had the extra money but didn't apply it to the principal. I asked what they were doing with it and they said nothing they asked if I wanted it to be applied.. What why would I send in extra... They said every time I send in extra I should write it on there or call them.. Again anyone no why my balance would be more??
Thanks
Mnguy
Rochester, Minnesota
U.S.A.
Thanks
Mnguy
Rochester, Minnesota
U.S.A.
2 Updates & Rebuttals
Faron
Houston,Texas,
U.S.A.
Correction
#2Consumer Comment
Thu, January 17, 2008
It's about $1,700 interest a year which is almost $150. However, looking over some of the reports on this company indicates they have a lousy track record of posting payments. You may want to file a complaint with the Attorney General on this dog.
Faron
Houston,Texas,
U.S.A.
You almost answered your own question
#3Consumer Comment
Thu, January 17, 2008
You said they were holding the extra payments (which is stupid on their part, but they are doing it to drive your interest up playing like they are dumb). More than likely, your normal payments are almost what your interest are per month. Interest is around $1,300 a year on $8,000 principal, so the interest is around $108 and would gradually go down if you're making normal payments. You did tell them to apply the extra payments you already made to the principal, I hope?
