Consumer Portfolio Services
Most of Each Payment Went to Interest, Little to Principal
- 07-19-2009
- 38
Most of every payment sent to this company went towards the interest rather than the principle. My monthly payment was $426 with 17% interest. As I started to pay the loan, I noticed the principle went down slightly compared to interest paid.
I recently refinanced with a credit union and sent my first payment. With that payment I saw that the actual percentage rate was applied appropriately. I am curious to know if my payments to the first loan were posted correctly.
Company: Consumer Portfolio Services
Country: USA
State: California
City: Irvine