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Thread: help

   
   
  1. 07-19-2008, 09:34 AM #1
    markaspden
    markaspden is offline White Belt
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    Default help

    Hi i have a personl loan for $5000 at 16% and my payments make up the nterest and principle.Each month my statement shows my loan plus interest is this normal. What i mean is my loan repayment is $7500 with interest for 5 years i have had the loan for about 6 months and it still shows i owe $7000 is this normall surely if was to pay the $5000 loan off thye couldnt charge for 5 years of interst could they, Any help would be great.
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  2. 07-21-2008, 02:58 PM #2
    Magic69's Avatar
    Magic69
    Magic69 is offline Green Belt  
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    It probably depends on the loan agreement you signed with them.
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