Personal Finance UPDATE: Credit union didn't take my electronic payments and caused me 30-day lates on my credit report |
- UPDATE: Credit union didn't take my electronic payments and caused me 30-day lates on my credit report
- Discover lowered my limit from $18,000 to $500
- Quest Diagnostics extorting me
- Is now good time to buy car?
- Unexpected paycheck from previous employer, 1 year after layoff
- Student Loans Deferred Until Sept 30th
- Discover Credit Card locked my account and requesting SSA 89
- Got a job offer that i'm going to accept. Start date isn't until early May. When should I give my current company my notice?
- Where does everyone keep their 3-6 month emergency fund? Do you keep it in cash or low risk investments?
- What's the least expensive way to convert currencies when travelling?
- Reasons why whole life is a bad idea?
- Refunds to a Credit Card with no balance, what are my options?
- I was scammed out of $3000 and my bank doesn't care. What do I do?
- Considering buying a house, need help determining budget.
- Two hard pulls for the same rental application
- Need urgent help, living in a bad household, will I be able to get approved for an apartment?
- Ideal Time to Purchase First Home
- Confused about Chime early paycheck
- Trash Pickup Charges
- Selling a Car - Scam?
- Are Certified Pre-owned cars worth it?
- Just got a job for $63,107, how much should I spend on rent?
- Reloadable debit card for teen's allowance
- Unexpected college funding windfall. What to do?
| Posted: 04 Apr 2020 10:16 AM PDT This didn't get a lot of traction but I thought I would update in case anyone else ever runs into this issue because it's a violation of the FCRA and I could have received damages if the CU hadn't fixed in 30 days (45 now because of COVID). TL; DR I submitted my car payments through the CU's app, got email confirmations, and they didn't take the payments from my checking account at another CU and caused me to get two 30 day lates. They had taken the payments before and have since. To be really clear, Car Loan CU never attempted the payments from Checking Account CU. I didn't get a lot of helpful advice and unfortunately, I got shamed for being sick and being late....but a sincere thank you to those of you that did help. I wrote a certified letter to the CarLoan CU's CEO with my email payment confirmations. Nothing fancy, but I explained the situation and asked them to remove the late payments. It was delivered yesterday. Today I got an email saying the late payments would be removed. I didn't have to write the credit bureaus or the CFPB or anything like that. That's all fine and dandy, but what is really important here is that this kind of thing is covered under the Fair Credit Reporting Act. A financial institution can't confirm payments and then just not take them. This issue is entirely different from whether not I paid past a certain time or was close to 30 days late. They confirmed the payments and never took them. I got connected to a friend of a friend of a friend lawyer who specializes in these kinds of violations and he said it's an easy case to sue and get a settlement but I have to send a letter first and let them remedy, which they did. If they haven't, he would have taken the case and I could have sued for damages as well. Since the COVID mess has hit, these late payments are even more critical because it looks like the SBA loans for businesses are going to look at personal credit and I would have been automatically disqualified. But the lawyer explained that the CarLoan CU could have been liable for damages in the amount of the declined loan, so that was good to know. I'm not sad I didn't get to sue for damages. With the COVID thing going down I'm just glad it's fixed. Just wanted to get the resolution down for the archive. Cheers! [link] [comments]  |
| Discover lowered my limit from $18,000 to $500 Posted: 04 Apr 2020 11:12 AM PDT Card is about two years old. Never missed a payment. Never been late. They gave me no notice that they were doing this. Anyone have an experience like this before? Is there anything I can do about this? EDIT to provide more information: I don't need $18,000 in credit. I've never used the max amount nor have I even come close. My issue is I've been a loyal customer to them, never missed a payment or been late, and they drop my line by $17,500 overnight without warning a week after I make a large payment to clear the balance. I know they don't "owe" me any specific line and they can do whatever they want with my line, but right now they are all about "we are here to help with Corona virus related issues" and they cut my line during this virus stuff. Also: I've never been late on any of my credit cards. Ever. No missed payments or anything. Balance on other cards have decreased. No dramatic changes in spending habits or things like that EDIT 2: Just wanted to say thank you to everyone for the information and for your responses. I will try my best to work through them all and reply. Here is one thing I did want to say because this seemed to come up a lot: My utilization is now sky high. I have a balance on two Capital One cards that I've been working on paying down and the Discover card was my highest limit card with smallest balance. It's now gone and as someone mentioned I feel like this will snowball to my other cards and cause even more issues. Thankfully I'm not in the market for a car or home right now, so the immediate tanking of my score isn't a huge concern. [link] [comments]  |
| Quest Diagnostics extorting me Posted: 04 Apr 2020 08:29 AM PDT Basically got a 900$ bill for them for some blood work 5 months ago because my insurance company didnt cover it. I Called my insurance company, the reason they didnt cover it was because my doctor never sent them my medical records they requested. Couldnt get in touch with my doctors office although I contacted them multiple times. I am now basically on the hook with quest for 900. I have tried emailing them and say that I will pay 80-100$ which is what they end up getting after my insurance company pays them. They never responded and sent my bill to collections at this point. I cant get anyone on the phone. It looks like I can still pay it through them online but I dont want to pay them if it is already in collections. What should I do? I am a young adult and worked very hard to get my credit fixed and do not want it to be damaged but I also dont want to pay this to them since they have been horrible to work with if my credit is alrady going to be shot. EDIT: My real question now is if I pay this bill today, will it prevent this from being reported on my credit report or having to deal with a collections agency? It is currently NOT on my credit report and I have not been contacted by a collections agency, but the bill status says "collections." A week ago it did not say that status. Edit 2: This is my plan moving forward. I am filing a complaint against the insurance company with the department and banking. I went back through all my documents and it is not really quest's fault, it is more the insurance companies fault. They denied the claim, I contacted them via email to ask why, they said they requested records but never got them. They contacted the wrong doctors office for the records. I advised them of this MONTHS ago and informed them of the correct doctor. They then said they would request the documents from quest and then I never heard anything again. I tried contacting quest a week ago and havent heard anything back other than my bill is being sent to collections. BTW. I am filing this complaint then if I get contacted by collections I am saying that I dispute that I owe the charge. I am hoping this prevents the collections agency from putting this on my report. I am not paying this 800 bill. It is essentially a fake number. I am home due to the COVID situation and have the time and energy to fight it. [link] [comments]  |
| Posted: 04 Apr 2020 12:18 PM PDT My job is secure. I keep seeing they are offering super low interest rates and down payments required. (though i still have 20% i want to put down on the car to decrease monthly bill) I want to buy new Subaru outback. [link] [comments]  |
| Unexpected paycheck from previous employer, 1 year after layoff Posted: 04 Apr 2020 06:59 PM PDT Hi folks, Woke up to an unexpected direct deposit with this description, just trying to figure out what it might be for: VIC Term NoBen NonEB A year ago I was laid off from a very big company due to downsizing. I moved on quickly enough but thought my journey with them was done. I sent the HR Dept an email asking to remind me what the paycheck was for, but since it's Saturday and I likely won't hear back for a few days, thought maybe one of you could guess what the description might mean. Payment was about 70% of one of my monthly paychecks. Anticipating it being a mistake and having to give it back, but hoping maybe I forgot about something and when they closed their annual books they sent it my way. Thanks for speculating with me! [link] [comments]  |
| Student Loans Deferred Until Sept 30th Posted: 04 Apr 2020 12:52 PM PDT Student loan payments are deferred in the US until September 30th. That leaves an interesting situation. Would you rather... Trying to decide the best situation. [link] [comments]  |
| Discover Credit Card locked my account and requesting SSA 89 Posted: 04 Apr 2020 06:36 PM PDT Hi, I woke up and checked my Discover app, it said I cannot login in due to network issues, didn't think much of it. Later on the day, I check it again and same thing. So I hop on my laptop and go on the website. The website says call us, we cannot access your account due to specific reasons, something like that. I call in and they requested a SSA 89 form, SSN card, and my license. Is this normal? Why would they do this now instead of doing it in the beginning when I signed up for the card? Thanks. [link] [comments]  |
| Posted: 04 Apr 2020 04:20 PM PDT Background: I love the current company i work for, but am underpaid for my position (software engineer). I've been with my current company for about 4 years and owe them a lot for my growth in the field, however COVID-19 forced them to let go of several people last week and cut the salaries of remaining employees by a few percent each. I would like to give them a months notice because it's really going to put them in a bind when I leave since I'm one of only 2 people that knows the specific technology that we work on in the company. I'm just worried that if I give a months notice, with the current situation of them having to lay people off, that they might just let me go. I'm not sure that i could get my start date with the new company moved up at all if this happens. Edit: Thanks for the responses everyone. Seems the consensus is two weeks and nothing more. That's the route I'll go. [link] [comments]  |
| Posted: 04 Apr 2020 06:22 PM PDT Just wondering where others keep their 3-6 month emergency fund? Do you keep it in cash or low risk investments? [link] [comments]  |
| What's the least expensive way to convert currencies when travelling? Posted: 04 Apr 2020 06:00 PM PDT The first time I went abroad, I got reamed by those kiosks at the airport with the terrible rates and fees. Later I started using a credit card with "no international transaction fees," but lately I've been reading about "dynamic conversion rates" that tilt the rates in their favor. Is there some other legit way to convert currencies more closely to the market rate? [link] [comments]  |
| Reasons why whole life is a bad idea? Posted: 04 Apr 2020 01:30 PM PDT I can see plenty of posts in this sub where it seems everyone hates whole life insurance. I think I'm struggling with why? I bought whole life about a year ago, and I'm trying to figure out whether or not it is a good idea. Most comments here seem to say 'absolutely not!'. That being said, why isn't it a good idea? For myself, I make a little over 100k USD per year, and I put about 10% currently into a 401k. I bought a whole life 90 plan. Looking at the numbers, it appears that I should have about 300k cash value (whatever that means) at age 80 that I can pull out. I'm putting in about 3,500 US per year into the whole life plan. The return doesn't match what I could get by maxing out my 401k, that is for sure. The argument that the insurance person gave me was that A) I'm protected against taxes when I need to use this money and B) I'm protected against needing to pull my money out of my 401k when in a down market- in those times, I can use the cash value instead. I feel like that makes sense.....why is everyone against whole life so much? Is it just that the returns are so much better in a ROTH or 401k? Thanks in advance for any advice, and my apologies- I know there are plenty of posts already about whole life, but I guess I'd like a little more advice on why another vehicle is so much better- the safe money argument that the insurance guy made seemed to be pretty sensible to me. [link] [comments]  |
| Refunds to a Credit Card with no balance, what are my options? Posted: 04 Apr 2020 11:38 AM PDT About to get many refunds(Travel, event cancellation, charge backs.etc) to a Credit card that is fully paid off and has no balance. What are my options? Should I keep buying things with this card? How does that affect my billing? Can I withdraw that money from an ATM without paying a cash advance fee? [link] [comments]  |
| I was scammed out of $3000 and my bank doesn't care. What do I do? Posted: 04 Apr 2020 01:24 PM PDT I'll start by saying that I'm a typical broke college student. I only had about $100 to my name before this whole thing started. I was looking for an online job and found one that claimed to pay super well and yada yada yada. They sent me emails from fake HR departments, had fake emails from a CFO, and even had a convincing website for this company that they were posing as. They sent me checks to buy "materials" which I was suspicious of, but because the checks cleared with my bank, I thought they must be fine and even if I got scammed, they would just be stealing the money they gave me! This was not the case. The scammers had me transfer the $3000 from the check to a different account, then a week later my bank flagged the check as fraudulent and took $3000 out of my account. After a week of back and forth with the bank, they told me that it was my fault for spending fraudulent checks and that they can't do anything to help. I'm now -$2900 in the hole and I have no way to pay this debt. I did the math, and if I worked an average part time job all summer, I could barely pay it off instead of saving money for my next year of college. Is there any other option?? Is closing my account with the debt in it an option? Any advice is much appreciated. EDIT: thank you everyone for the advice. I think I'm gonna open a new account at a different bank, contact my current bank and see how easy they can go on me, and then just work all summer to pay it off. I have definitely learned my lesson. Thanks again for all your help :) [link] [comments]  |
| Considering buying a house, need help determining budget. Posted: 04 Apr 2020 06:03 PM PDT My wife and I make around $150k annually before taxes. I have no debt but she has student loans which cost something like $400/mo I believe. We have about $85k in savings between us. We're both pretty financially ignorant, and trying to use the various "how much house can I afford" calculators online have just confused us further, for a few reasons. One reason is that it's very unclear to me what percentage of savings it's actually safe to spend on a down payment vs. retaining for further savings, emergency/etc. Another major issue is we really don't want "as much house as we can afford". We currently live in a 1300sqft place and only feel the slightest bit cramped for our lifestyle. We would prefer to prioritize location or potentially some property over square footage. I've been told that these are the wrong priorities to have because square footage is the best metric re: investment, etc. Any insight as to what kind of budget we can very safely give ourselves would be much appreciated. Most commercial resources seem interested in pushing a potential budget further than seems comfortable to us. We want to retain money for travel and our comfortable lifestyle, but renting seems increasingly inefficient. Any help is appreciated! [link] [comments]  |
| Two hard pulls for the same rental application Posted: 04 Apr 2020 06:48 PM PDT Hi, I'm trying to rent a new apartment from a rental agency. I've been living in the same community for five years now, and I'm hoping to move into a bigger apartment. I was asked to submit a new application and money towards a background check. I omitted putting my SSN in the form since I've never needed to before. Three days later I see a hard pull on my Experian report from RentGrow. Three days later, I'm asked by the rental agency to provide my SSN to them since the application cannot proceed without that. Two days later, I see another new hard pull on my report from RentGrow, the same background check company. I'm understand that their policy needed me to provide my SSN and consent to my credit being pulled, but I find it concerning that Rent Grow pulled my report without consent. I also find it absurd that they didn't use the 6 day old credit report. It's there a way for me to dispute it and get one hard pull stricken off? Am I in the right here in thinking this is egregious? [link] [comments]  |
| Need urgent help, living in a bad household, will I be able to get approved for an apartment? Posted: 04 Apr 2020 05:28 PM PDT I really need help here. I'm currently living in an abusive household and I need to leave as soon as possible for my safety. I'm a 19 year old college student with excellent credit (775). I have been working for the past 3 months as a waitress at a steakhouse/brew house and bring home around $2000 a month with Uber Eats. I'm looking to rent a 3 bedroom apartment with two other roommates with good credit and good sources of income. The apartments we're looking at are around $700-$800/month each including utilities. I have no other bills to pay except rent, as do my other friends and we're all very thankful to not have been laid off due to COVID-19. So here's the problem: none of us have willing co-signers as we all have poor family relationships and lack of any other rental history, so we're worried that entering the application process we may be declined by that fact. I have bank statements at the ready and have savings that will allow me to pay first and last months rent. Please help with any advice on this process, I'd be so grateful. [link] [comments]  |
| Ideal Time to Purchase First Home Posted: 04 Apr 2020 12:03 PM PDT Hi all, I'm not an expert in economics/finance/etc. so I have no idea how the current situation will affect the housing market. When would be the "ideal" time (if there is one) to purchase my first home? I was targeting November-ish give or take 2 months, but don't want to make a mistake in my first purchase. Thank you in advance! [link] [comments]  |
| Confused about Chime early paycheck Posted: 04 Apr 2020 07:33 PM PDT So do you get paid every 14 days or every 12 days since you get paid 2 days early? Correct me if im wrong but all it does is instead of getting paid on a saturday like you normally do you get paid on thursday instead? So in theory if you get paid biweekly youre still waiting 14 days between each paycheck youre just getting it 2 days earlier than your co workers? Thank you [link] [comments]  |
| Posted: 04 Apr 2020 05:56 PM PDT The fee for my trash pickup has sky rocketed over the last few years. I reached out to my existing and competing companies for pricing. I found another company that would do the pick up for half the price of the existing company. When I contacted the existing company to cancel, I was informed there would be a $45 fee for them to pick up the can. I offered to bring the can in myself and was told that wasn't an option. They then informed me that they wouldn't be able to pick up the can for a week after the service was discontinued. I told them that there would be a $5 per day storage fee that I would be deducting from the final bill. The CSR said I could do whatever I wanted. They wound up picking up the can 3 days after the service was cancelled. I paid the final bill, less $15. Now I'm being threatened with collections for the $15. Thoughts? [link] [comments]  |
| Posted: 04 Apr 2020 07:13 PM PDT Not sure if this belongs in this subreddit but can't really figure out where to post it. I'm in the process of selling my car. I JUST posted photos of it on Autotrader yesterday evening and this after noon get an immediate offer from someone. It's 10 years old and I just didn't expect to get such an instant response considering it's not like a luxury model or anything. Just a car. The buyer only asked about ownership and nothing else about the specs of the car - which I haven't even entirely listed or updated on the selling page yet. He's offered to send a cashiers check and once it's cashed he'll send a mover to pick up the vehicle. Bada Bing bada boom. So quick.. is this normal? He asked for my name and address to send the check - and everything already seemed suspiciously fast but now it feels even more strange for some reason. Is there any way I can get screwed over in this or does the person really just want the car? [link] [comments]  |
| Are Certified Pre-owned cars worth it? Posted: 04 Apr 2020 05:36 PM PDT I'm looking to buy a 2016/17 Subaru Outback around June/July and I've specifically been looking at the certified pre-owned options. Is the warranty worth the extra money? To me it seems like a piece of mind. I drive about 5-7k miles a year (we both walk to work every day). Those miles are to the grocery store or camping trips. Looking at a car with 60k or less miles. Thanks for any input. Things I'm nothing thinking about. If anyone has a great car-buying guide, I'd love a link. The most recent one I found was from 5 years ago. Edit: Right now Subaru is doing 0% for 63 months for new cars but, they are also doing 0.99% for 36 months and 1.99% for 48 months on used cars right now. So on a $22k car (that's with taxes and fees), I'm either paying like $214 in interest or $576 in interest respectively. That doesn't seem too bad to me - that's putting $8k down. [link] [comments]  |
| Just got a job for $63,107, how much should I spend on rent? Posted: 04 Apr 2020 05:36 PM PDT The job is in Boston as a physician. 63,107 per year minus tax and payroll deductions for various things would end up being about 3400 a month. I don't have any school debt. Is spending 2250 a month on rent (without electricity/net) feasible? Thanks! Edit: per year lol [link] [comments]  |
| Reloadable debit card for teen's allowance Posted: 04 Apr 2020 04:56 PM PDT I'm looking for a debit/money card for an allowance. One that allows me to easily add money to it via an app or online account. I know with cards like Green Dot or NetSpend you can add cash to it in a retail store, but I'm looking for a card I can virtually send money to. I'd like it to have text notification abilities so that he gets a notification of his balance when it changes, but I don't want him to have access to the account on an app. I'm also not looking to open a separate bank account with something like Greenlight. Any recommendations? [link] [comments]  |
| Unexpected college funding windfall. What to do? Posted: 04 Apr 2020 02:42 PM PDT It has only been 18 hours since we learned about this. So, looking for advice. ---- Last night, my wife's father called to inform us to check our son's email inbox (set it up for family to write to him, and have him open it up later in life). In the email it stated that my father- and mother-in-law would be giving our son a birthday gift of $1,000 x his age (Ex: 4th birthday = $4,000) up to his 18th birthday. This would total $171,000. They asked that it be spent on funding school/college, living expenses during school, etc. Obviously, we will abide by these wishes. My wife and I had already set up a 529 account for our son. We have invested $7,000, thus far, and have another $8,000 to DCA. However, with this change of funds, it has made me want to rethink the allocation. Overfunding, doesn't need as much as what we think are things we are also considering. Options thought of: 1a) Continue to fund the 529 account with each birthday? 1b) Invest 50% into a 529 account and 50% into a CD laddering plan each year? 1c) Invest into a 529 his 1st - 14th birthday money (105k), and place his 15th - 18th (66k) into a CD ladder? (or some type of similar amount of years on either side) 2) Invest some money into a UTMA? 3) We never talked about this before, but this could give some flexibility to fund private school in high school. Just keeping on radar as a possibility now Overwhelmed a bit, and just looking for different things I should be considering. Appreciate the insights everyone! --- Background:
[link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment