Here's a quick re-cap Clint Eastwood style of last weeks challenges with debt.
The Good: My wife and I have begun looking into reducing our utility bills as much as possible. So my wife had called our cable provider and was able to get our bill reduced by $17. It's not a whole lot, but $17 is $17. That's a savings of $204 a year that can go towards debt or savings.
The Bad: I received an offer from Bank of America to settle one of my credit cards. It was the last card that I had put on their balance liquidation program and thought what the heck was going on. I had immediately called them, but they were closed for the day. The following business day they beat me to the punch and called me instead.
Apparently, the offer had crossed in the mail. The counselor told me I could take the offer, but I declined and preferred to stick the BLP plan. They had called to set me up on an automatic payment plan for this card. My other cards are set up for auto pay, which is a requirement to be on the plan. Typically, you need to be on the auto payment plan for 6 to 12 months depending on the bank you are with.
What had turned out to be what I thought was going to bad actually turned out to be good. The counselor had told me after my next payment on my other cards they would report me as current. I still have 3 more on the last card before they report me up to date. I am definitely on my way to be back on track.
The Ugly: As my wife had posted a few days ago we had received a collection notice for a medical bill. My wife called National Enterprise Systems to make arrangements to make payments on the bill, but they would have nothing to do with payments.
They offered her to settle for $2,700, which was about $700 less then then original bill or that we had to pay $1,000 before they would talk a payment plan. So for now I guess they get nothing.
These collection companies are so dumb. We are willing to pay back the entire amount, but they don't want it. So until they wise up they can just suck it.
We Also Suggest:
- Bank of America's Balance Liquidation Program (BLP) Still Sucks
- What's the Best Way to Pay off My Credit Card Debt If I Have a High FICO Credit Score ?
- How did This Economic Crisis Start?
- Should I Use My 401K to Pay Off My Mortgage?
- Should I Take Out a 401K Loan to Pay Off My Credit Cards?
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