American General Finance Complaint - Interest more than required Payment
MOUNT VERNON, WASHINGTON -- This company actually has an address of 1616 N 18th St Ste 120 Mount Vernon, WA 98273-2699. Phone number 360 424-7081. When we initially made the loan I made an early payment, every payment was always before the due date and I always paid more than the amount of the required payment. Two times they took every penny for interest. I would have thought that at least the amount made over the payment would have gone to the balance, if only $4! So they tried to explain that because my early payment was so early that the even though the next payment was still early the interest charged all meant that everything I paid them went to interest. OK, I let that slide--Now here it is several years later and AGAIN I paid $500 instead of the $416.68 that my payment should be and they took out $425.42 in interest!
The thing that gets me upset is that how can they take out in interest an amount greater than the payment I was supposed to pay. Especially when I have always paid more than the required amount!