She received the proceeds of the loan ($1000 from the loan company to Catmom). Then she had to send $1000 (plus interest, etc., but let's focus on just the principle) to the loan company) to the loan company. So, $1000 was paid by Catmon to the loan company. It was a wash.
She paid $275 in interest and fees to the loan company ($275 is my made-up number). MSC reimbursed the $275. Catmom sent $275 to the loan company. The MSC sent $275 to Catmom. It was a wash.
The MSC sent a $500 fee to Catmom. Catmom kept the money. Catmom made $500.
What is the source of the extra $1000 that Catmom believes she earned? It is not the proceeds of the loan, because she had to repay the loan.
@mystery2me wrote:
She received the loan proceeds.
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008