From: "Curtis CCR" 
Newsgroups: misc.consumers.house misc.consumers
Subject: Re: Loan Promissory Note question.
Date: 21 Jul 2005 21:45:50 -0700
   posting-account=MoZB0QwAAADhzfBYA-CwErmp2bAafolQ

They appear to be interpreting the terms a bit differently than they
do.

They took your first payment as a prepayment of less than the
outstanding balance owed, but they still expect at least a full payment
every month.  You didn't pay in July.  The fact that you sent the
July's coupon with you payment in May probably doesn't change anything
- they still expect a payment in July.

The best you'll probably get is waiver of the late charge if you agree
to make your July payment immediately and  explain that you thought
were really a month ahead.

>From this point on you need to treat it like a credit card payment.
Extra payments in the previous months don't eliminate the current
month's payment.  A minimum payment is due every month.