Interest Only Loans
I took out a line of credit with Am. General in 2008.
The line of credit has never gone down from the original amount. I've talked with them and asked them to lower their high interest. They laughed. I have paid over $14,000 in interest payments.
I pay all of $4.95 towards the principal. This is robbery in my opinion. I am of course looking to refinance this loan and only wish I had done it sooner.
I will never do business with them again and tell others not to. They should not be in business ever.