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blackjackmark t1_iueh5b3 wrote

Reply to comment by RevolutionaryLion384 in No-interest loan but interest was dumped into my account after it was not fully paid off by a certain date by RevolutionaryLion384

I understand and agree that it would have been nice of them to mention this when you signed up, but are you saying your monthly statement hasn’t mentioned this for the past 6/12/24 months (or however long the interest free period was for)?

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RevolutionaryLion384 OP t1_iufzs4q wrote

My statements were online and to be honest I tend to forget things once they are handled or dealt with in a certain way. It actually dawned on me at some point where I asked myself why I was even still making payments, because it should have been paid off and that's when I looked at my account and began to figure out what was going on

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blackjackmark t1_iug297z wrote

I totally get that as I tend to do similarly…but it’s certainly a “lesson learned” to be sure to check your statements at least occasionally! Depending on how long ago the grace period ended (and you have the funds), it might be worth a shot to call and ask them that if you paid it off in full immediately would they waive the accrued interest. No harm if they say no.

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RevolutionaryLion384 OP t1_iuggefc wrote

And lessons are important, I don't mind that, but I'd prefer not to have to learn $2000 lessons of which a billion dollar company gets to profit on within a trillion dollar industry. Something about that just doesn't sit right with me and I know I'm not the only that this has happened too.

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Trick-Read-3982 t1_iugtmh8 wrote

Hard, expensive lesson but ALWAYs review your statement and paperwork that you sign. Sorry you had to learn this way.

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