M&T Bank Corporation Consumer Loan Complaint

M&T Bank Corporation Consumer Loan department,

Installment loan Managing the loan or lease Texas

I have a boat loan with M & T Bank. The required monthly payment is $370.00. My loan balance in - - was $34000.00. Since - - until - -, -, I 've made $3700.00 toward this loan. I usually make $200.00 every two weeks. I have not checked on my loan account because I thought I have made monthly payment more than the requirement. Today I checked on my loan account online, and I found out my loan balance is still same as in - -, which is $34000.00. My loan balance has not gone down even a penny. All my payments made to this loan went straight to interest, not a penny was deducted toward my loan principle. I called and asked them why all my payments went to interest, nothing has gone to the principle. They told me all my payments of $200.00 did n't meet the required minimum payment of $370.00 ( even though my monthly payment was $400.00 ), so all payments of $200.00 went to interest.