National Payment Center is using my payments for "fees&costs"never towards principal balance.
2006-11-25 08:40:20 · 3 answers · asked by Robert B 5 in Business & Finance ➔ Personal Finance
First, call them and tell them that you want your payments to go toward your Principal Balance, or at least a portion of it. If your current loan does not allow for that, try negotiating with them. They may ask you to put it in writing --for instance, you may need to send a check and WRITE on the check to put it towards priciple. But more than likely, you may need to send your regular payment and AN ADDITIONAL amount that you specify is to go toward principal. If this fails, I would speak with a financial counselor outside of National Payment Center. HTH and best of luck to you.
2006-12-02 17:07:17 · answer #1 · answered by oreoflava 2 · 0⤊ 0⤋
It depends on the type of student loan you have....Some require fees and costs to be paid first....Are you sending the minimum payment of more...If you are sending more, than send a short letter with each payment requesting they apply the additional amount to your principal.....Also they should have a web site you can find, depending on your state....Hope you get it straightened out....
2006-12-03 01:07:58 · answer #2 · answered by ? 4 · 0⤊ 0⤋
It depends on your loan contract. If you owe back fees & costs, then they will pay those first, then the principal.
2006-11-27 19:28:29 · answer #3 · answered by ckm1956 7 · 1⤊ 1⤋