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Financing -- Loans/loan payment vs principal payment

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Question
I live in Kentucky and have a loan for a trailer.  I have been behind on the payments due to an illness.  Everytime I try to get my payments current, the bank applies my payment to the principal.  I have always been under the impression that a person cannot make prinicpal payments if they are behind on the regular payments.  I even write on the check that this is a payment for April & May, yet I still have to call the bank to get them to correct the situation.  Are they just trying to annoy me since I have been late or are the tellers / processors just that inattentive?  Any thoughts or advice would be appreciated.

Answer
Count your blessings...

You WANT the bank to apply the payment to principal!!!

They could be eating up your dollars in late charges, fees, interest, default interest, etc., etc...

So long as they continue to work with you, accept your payments, and apply the entire payment
to the principal balance, then you should be very pleased indeed.

Good luck.

Ron

Financing -- Loans

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