, but OP could also call his bank and ask how to apply payments to principal instead of selecting "regular payment" on the payment portal and then getting upset when his payment is treated as a regular payment.
Keep in mind that this is an entirely automated system. There is no human looking at the payment and making a decision based on logic. They just programmed a simple algorithm.
[/quote]
There was only one option that wss partially logical and sensical it was not
'pay down to $0'
I did speak with them and their defense was this was standard banking industry procedure to apply it only to interest. I contend it is not.
Keep in mind that this is an entirely automated system. There is no human looking at the payment and making a decision based on logic. They just programmed a simple algorithm.
[/quote]
There was only one option that wss partially logical and sensical it was not
'pay down to $0'
I did speak with them and their defense was this was standard banking industry procedure to apply it only to interest. I contend it is not.
Statistics: Posted by PeterA007 — Tue Sep 24, 2024 7:11 pm