How exactly does Wells Fargo use payments to my loan(s)?
Re Payments are used within the after order:
- Accrued interest. Then to if your payment amount exceeds the accrued interest:
- Major stability. The amount that is remaining of re re re payment more than accrued interest will likely to be put on the main on that loan.
For those who have one or more loan combined as an account that is single re re payments will likely be placed on each one of the loans as described above whether there was a different payment statement for every single loan or if numerous loans show up on one payment declaration.