I have a 10 year student loan I'm paying off. I set it up correctly and
each month the amount was entered and the interest amt declined and the
principal increased and the payment numbers advanced as they should.
Then suddenly it stopped doing that and got stuck on payment number 3
and keeps giving me the same principal and interest amt. It has done
this now for about 7 months, except for one month when it suddenly gave
me a payment number 6. I've looked at the loan account settings and
everything looks ok for the original amount and the interest rate,etc.
When I look at the amortization schedule going forward, it looks ok,
although it shows starting with payment 4 in January of 07 when I've
probably already made about 15 payments. Many of these payments in the
past have been reconciled in my checkbook, so how do I fix this problem
and show the correct amounts? Puzzled as to what the heck is going on
here.
When I go to the bills section and click on that payment and select
"edit bill series", it pops up a message that says "The recurring
payment doesn't match the default Loan Acct payment, so changes here
won't affect the default payment. If you want to change the default
payment, click cancel now, go to the Loan Account's Acct Settings and
click the change Loan Term's settings"
But when I go to that page the loan amt that is show on that page and
the interest rate looks ok, so why would I want to change something?
Any thoughts?
Thanks,
Mark