conversation: User (CreditLacky): "I have a truck that is a 2006. I am three years into a 6 year loan with Santander. At this point, principal is finally being paid. The payment is too high for what the vehicle is (Now requiring some major work to maintain) and this particular lender told us outright they will not lower our payments, because they have been paid their interest. I have fair credit, and limited options. Any thoughts would be appreciated, thank you in advance.  "
  Self: "any numbers at all?"
  User (CreditLacky): "Balance of $12,315; payments of 430 made 37 times, maturity date 12/2018 (interest rate of 13%... ??? Have to dig up file, will return)"
  Self: "13%? totally refinance if you can. I mean, check to make sure the fees associated are less than the interest savings"
  User (CreditLacky): "Holly shit. It's actually 15.67%. I was, am, is desperate. I've been slowly digging out of a hole, left in part by an ex. This is ridiculous. At what point does something like this become predatory lending? ( Don't have to answer that) I appreciate this sub exists and that you have responded. Thank you for that."
  Phantom_Absolute (Phantom_Absolute): "15% isn't uncommon for someone with poor credit history."
  