This is what I hate about lenders

I was inputting end of month interest + fees for all our accounts, and I decided to look up how much my father had paid to his loan lender, at least since -I’ve- been keeping track of it since May of 2007. This loan has been at $5k for like, ever. As long as I’ve been tracking it.

Since I’ve been keeping track of my dads checking account, he’s spent over $3.3k towards that loan, and it’s still at $5k. Most of his payments went to interest. Not surprising, really, but it still pisses me off because with $3.3k I could have it near paid off by now. And I know shit like this happens all the time to take advantage of people. These people came to -him- and threw the loan on him, and he took the bait.

Well it’s not an issue anymore since I took over the debt on a 4.4% interest credit card of mine. We’ve already made a significant dent in it. It works out a lot better having my father pay me his payment, and for me to combine it with mine to beat it senseless each month.

Now if only he’d let me take over the rest of his finances 😀 He’s independent though, like me (or rather, me like him). So I know that won’t be happening anytime soon.