I have a personal loan with Wachovia that is about 5 months away from being completely paid off - over the life of this loan I took two extensions on the loan. My bank has decided to more than double my payments from $241.80 to $518.24 - however the loan contract states that the payment will never increase more than 25% of the original payment. Wachovia says that the loan contract doesn't take into consideration late charges, extensions, additional interest or insurance. Please tell me what my options are, if any - other than paying the new payment.
Oh also, this loan was made in South Carolina, but I now live in North Carolina - not sure if that makes a difference.
Thanks!
Erica
Oh also, this loan was made in South Carolina, but I now live in North Carolina - not sure if that makes a difference.
Thanks!
Erica
