The calculators at PowerPay will allow you to enter your balance, current payment, and interest rate to determine the time and cost for repaying a debt. (Use the additional payment calculator from the menu once you get to the PowerPay site). You can try various debt repayment scenarios and find one that works for you. Without knowing your loan interest rate and original loan balance, it’s not possible to figure this out for you.
But if we put in some …
Rent-to-own (RTO) stores sell items such as furniture and appliances to consumers on an installment payment basis. RTO agreements usually consist of a rental contract that is renewed on a weekly or monthly basis. Usually, the terms are for 78 weeks or 18 months.
The customer has the option at the end of the rental period of whether to renew the lease or return the item. If the customer chooses to continue renewing the contract, payments continue to be made …
Penalty annual percentage rates (APRs) are high interest rates that can be triggered by the slightest infraction such as just one payment that is received a day late. Often these APRs range from 20% to 35%. Lenders increase borrowers’ interest rate significantly and profit from their mistakes.
As a result of the Credit CARD Act, the only way a credit card company can apply a Penalty APR to an existing balance (i.e. purchases you have already made) is if you …
