Principal have decreased

Submitted by Anonymous (not verified) on Tue, 02/05/2013 - 11:57
Forums
Credit repair

I would like to negotiate to repay a pdl. I borrowed $1800 and so far have paid them over $1400 and they are saying I owe them $2278. Shouldn’t the principal have decreased after having paid them that much?

sallynachelle

Welcome to the forums!!!
What state do you live in? What is the name of the pdl company? Is your lender licensed in your state? If not, then you are required to pay them only the principal. But you will be liable for both the principal and interest, if they are licensed in your state.

Wed, 02/06/2013 - 04:30 Permalink