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KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
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When making a principle payment?
Do you just write on the bottom of the check principle payment?
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Posted 12/4/06 1:54 PM  |
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DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: When making a principle payment?
yes :apply to principle
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| Posted 12/4/06 2:05 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: When making a principle payment?
If you're mailing it, note on the coupon that it's for principal as well.
I work at a bank, and alot of people don't even look at the memo line.l
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| Posted 12/4/06 2:07 PM |
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greenfreak
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Member since 9/06 11483 total posts
Name:
greenfreak
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Re: When making a principle payment?
I used to write it in red on the coupon, and in regular ink next to my name on the check. I used to work in AR and would be quicker to catch it if it was written right under the account # on the check.
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| Posted 12/4/06 2:10 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: When making a principle payment?
Is it with a local bank? If so Maybe you can stop in a branch and make it this way you can tell them it is a principal payment only!
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| Posted 12/4/06 2:12 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: When making a principle payment?
I make the payment then call them in a few days. I would never chance it.
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| Posted 12/4/06 2:15 PM |
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curliegirl
He's here!!!!
Member since 3/06 10128 total posts
Name:
Gina
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Re: When making a principle payment?
My loan company told me they automatically apply it, maybe I should start writing it on the check anyway? 
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| Posted 12/4/06 2:27 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: When making a principle payment?
Posted by curliegirl
My loan company told me they automatically apply it, maybe I should start writing it on the check anyway?
that's probably your regular payment. this is if you're paying an additional amount to principal.
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| Posted 12/4/06 2:31 PM |
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curliegirl
He's here!!!!
Member since 3/06 10128 total posts
Name:
Gina
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Re: When making a principle payment?
Posted by Shroggie
Posted by curliegirl
My loan company told me they automatically apply it, maybe I should start writing it on the check anyway?
that's probably your regular payment. this is if you're paying an additional amount to principal.
that's what I meant, I always pay more than my required.....they told me it is automatically applied to the principal
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| Posted 12/4/06 2:46 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: When making a principle payment?
Posted by curliegirl
Posted by Shroggie
Posted by curliegirl
My loan company told me they automatically apply it, maybe I should start writing it on the check anyway?
that's probably your regular payment. this is if you're paying an additional amount to principal.
that's what I meant, I always pay more than my required.....they told me it is automatically applied to the principal
oh...then im sure you're fine
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| Posted 12/4/06 2:47 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: When making a principle payment?
I made an additional payment by accident (don't ask-thanks Chase ) and they applied it as they would a regular payment.
That's why I would follow it up with a call.
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| Posted 12/4/06 3:20 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: When making a principle payment?
Posted by Blu-ize
I made an additional payment by accident (don't ask-thanks Chase ) and they applied it as they would a regular payment.
That's why I would follow it up with a call.
I would call too -
when i had my Jetta - I had a car loan from VW credit - if I paid any extra, it was automatically applied to principal. FH has a ford, and when he had a loan, if he made an extra payment, his next payment would be lower.
It depends on how they set up the loan.
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| Posted 12/4/06 3:26 PM |
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KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
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Re: When making a principle payment?
It's DHs Ford payment. I usually make the payments for the monthly payment online but I want to start sending them some extra money a month to ease the pain for the next 3 years. I guess Ill put a post it note on it as well so they know where to apply it. Thanks!!
Message edited 12/4/2006 3:32:13 PM.
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| Posted 12/4/06 3:32 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: When making a principle payment?
It may not lower your payment. It will just shorten the length of the loan and give you a smaller pay off at the end.
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| Posted 12/4/06 3:49 PM |
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KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
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Re: When making a principle payment?
Posted by Blu-ize
It may not lower your payment. It will just shorten the length of the loan and give you a smaller pay off at the end.
Yes, I know it won't lower the payment but if it can be paid off before 12/10 I will be THRILLED even if its a month or 2
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| Posted 12/4/06 4:14 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: When making a principle payment?
Posted by KPtoys
Posted by Blu-ize
It may not lower your payment. It will just shorten the length of the loan and give you a smaller pay off at the end.
Yes, I know it won't lower the payment but if it can be paid off before 12/10 I will be THRILLED even if its a month or 2
cool!!
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| Posted 12/4/06 4:42 PM |
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Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
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Re: When making a principle payment?
i always write it in the memo and on the coupon
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| Posted 12/5/06 7:53 AM |
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