I have a problem. I went to put Logos 7 Gold on a payment plan and after looking over all the numbers I noticed that $45.00 was added to cover the $5.00 cost per month. (i.e. interest) Well, if I pay off the plan early, will they keep that or give back the amount that would cover the early payoff? If I set up payments for eight months and in the fifth month I pat it off will I get back $15.00 or do they keep it? Another thing I noticed was the first amount I had to make up front had $5.00 dollars added to it, but WHY!!! That is not part of the payment plan. Something does not seem right.

Fred there is nothing wrong with they way you are being charged. You do not pay the $45 upfront. You pay it in $5 monthly installments and this is what you see with your first payment. This way if you do payout your plan in the fifth month you have only payed them the $30 and they don't need to refund you any money and you are not paying for a service you did not actually ues for that three month period.

Fred Robbins:

I have a problem. I went to put Logos 7 Gold on a payment plan and after looking over all the numbers I noticed that $45.00 was added to cover the $5.00 cost per month. (i.e. interest) Well, if I pay off the plan early, will they keep that or give back the amount that would cover the early payoff? If I set up payments for eight months and in the fifth month I pat it off will I get back $15.00 or do they keep it? Another thing I noticed was the first amount I had to make up front had $5.00 dollars added to it, but WHY!!! That is not part of the payment plan. Something does not seem right.

Thanks for your reply doc. Let me try to make this easy. The numbers I use are for example only. I buy a base package for $500.00 and stretch it out over 5 months which before any add-on is $100.00 per month. Up front, I must pay $50.00 with the balance of $450.00. That is the amount I am putting on a payment plan. Then they add $25.00 to the payment plan for 5 months and the total is $475.00. This is divided by 5 which gives me a monthly payment of $95.00. I make 3 payments of $95.00 which is $285.00 and a balance of $190.00. Shortly after my third payment, I decide to pay off the balance. I call in and tell them I want to pay off my account and they say ok, that will be $190.00 so I pay that amount. Even though I have paid off my account early I still end up paying $25.00 to cover the 5-month fee, though I only used the plan for three months. That still does not account for having to pay an extra $5.00 on the $50.00 down payment that I initially made. Why did I have to pay the $5.00 on the initial payment when that was not part of the $450.00 the payment plan that was set up?

I have tried to make this example as clear as possible so I hope that anyone reading this will understand and be able to follow along with the figures I used. Can someone see the point I am making?

Thanks for your reply doc. Let me try to make this easy. The numbers I use are for example only. I buy a base package for $500.00 and stretch it out over 5 months which before any add-on is $100.00 per month. Up front, I must pay $50.00 with the balance of $450.00. That is the amount I am putting on a payment plan. Then they add $25.00 to the payment plan for 5 months and the total is $475.00. This is divided by 5 which gives me a monthly payment of $95.00. I make 3 payments of $95.00 which is $285.00 and a balance of $190.00. Shortly after my third payment, I decide to pay off the balance. I call in and tell them I want to pay off my account and they say ok, that will be $190.00 so I pay that amount. Even though I have paid off my account early I still end up paying $25.00 to cover the 5-month fee, though I only used the plan for three months. That still does not account for having to pay an extra $5.00 on the $50.00 down payment that I initially made. Why did I have to pay the $5.00 on the initial payment when that was not part of the $450.00 the payment plan that was set up?

I have tried to make this example as clear as possible so I hope that anyone reading this will understand and be able to follow along with the figures I used. Can someone see the point I am making?

I can't speak to the $5.00 in the initial payment but if you pay off early, the $5.00 for the months you're not using shouldn't be included in your payoff amount. In your example, your payoff amount should be $180.00, not $190.00

When paying off a payment plan early any remaining payment plan fees are removed.

I’ll try to help explain using the figures you used in your example:

If you purchased a base package (BP) for $500 and stretched it out over a 5 month period you would acquire $25 in service fees ($5 x 5 months). That would bring the total BP price to $525 ($500 BP + $25 service fees). Because the payment plan option requires the first payment at the time of purchase, your payment today would be $105 ($100 for BP + $5 service fee). If you decided after making your second payment—you would have paid $210 at this point—that you wanted to pay off the remaining balance, you would only pay $300 because the 3 remaining service fees ($15) would be removed.

Some clarification was made to me about the payment plan. The down payment was part of the total amount and considered the first month’s payment. This I did not understand, so when I setup a 12-month plan, my first payment was applied and the balance showed 11 months. That is where I was confused. I still do not understand how the $5.00 fee added to the total is given back if paid off early.

I did pay off early my last plan. I had 2 months to go so I made the current month payment plus the final month. The 2 payments for the current and last month were the same. should not the last month minus the $5.00 fee? It was not.

Maybe I am missing something but it should not be so confusing.