nononsense

agreed. also, there is no such thing as debtors jail, so how is the DA defending this activity in their name? sickening, someone should be fired From what I understand writing a bad check is completely different from not paying CC. The reason being is that check is a tender instrument just like cash. When someone writes a check its not a credit - its a tender that should be paid upon presenting check to the issuing bank. Writing bad check is considered a criminal offense just like passing a counterfeit money.

I need some advice on what to do. Some time ago I agreed to receive a local newspaper because they offered me a promotional rate for the first 6 month. I received first monthly bill in the correct amount and promptly paid it. However subsequent monthly bills arrived at the regular price. I tried calling newspaper but it's a pain to get a hold of anyone in the billing department - wait time was long and I gave up that idea. Instead I wrote a note on the bill asking to correct it and then I will pay a corrected amount. I sent that note instead of the payment in the provided envelope. They kept sending me newspaper and kept sending bills with the regular (not promotional amount). I ignored them until bills and newspaper stopped. Yesterday I have received a letter from Biehl & Biehl CA asking to pay an overdue amount. It's not big - under $40 so payment is not an issue. I just don't want to make it worse then it is now by paying. Any advice on what should be my next step? Thanks!

How much time is spent getting the loan? What is the default rate? These factors are very different between short tern and traditional loans and thus traditional parameters such as interest rates don't apply. I am not advocating PDLs, just stating the fact that every municipality, which tried limiting PDL interest rates succeeded in one thing - shutting down PDLs. They couldn't force PD lenders to take less interest - is this because PD lenders are too greedy and will not stand to make a little less profit? Or is it because there was no profit to be make if not for these fees? Shameful.

What did Sallie Mae do to deserve your frustration with them? Gave you 94K so you can better yourself?

How much did you put down vs How much people in edmunds comparison put down? Thanks...it's a great car but just a very bad financial decision...... What are the numbers? I have the SV package fully loaded with spoiler tach package, navi etc. 3 year lease 12,000 miles. MY payments are $485 month. I went to edmunds and I say some people with the same car and 15k for $410 a month. I did not really bargain with them at all.... BIG MISTAKE.

I was wandering if anyone tried Ultimate Rewards redemption? How do you book travel through Ultimate Rewards? How are the prices through Ultimate Rewards vs if I book from other websites?

Credit Cards can cancel you for no reason. There is no law requiring CC companies to extend credit to anyone or to continue extending credit forever to someone, they have extended credit before. There is a good chance that some Credit Cards will be cancelled. How many is hard to tell, will really depend on each individual CC company and their lending guidance.

Seriously OP, putting aside argument whether banks make or lose money on defaulted loans, what do you want to know? Does Chase blacklist? - yes. Does Chase blacklist everyone? - No, some fall through the cracks. Is it possible your friend is not blacklisted and will be able to get another loan? - Yes. If you are blacklisted do you have a RIGHT to be unblacklisted after certain period of time? - No. Does it answer all your questions.

Why not if you collected insurance on the account! Also you sent it for collections for a second payment! Then wrote it off with a 1099 for the Third payment So why not do it again and make more money! Great then when do we start? I'll borrow 5K from you never pay you back and you make money on this then I'll come back and borrow another 5K from you and we'll both keep making money! Chase did not pay for this bad LOAN So wake up! Who did pay for it? Let's look at a concrete example 1) Chase gave a loan let's say for 5K. 2) Your friend repaid let's say 1K. Remaining balance 4K 3) Chase hired collectors to hound your friend for the payment - it cost them 1K until they decided to give up - back to $5K balance 4) After giving up on being paid. Chase sold loan to a CO for 10cents on $ - $500. Total loss $4500 5) They 1099 your friend and wrote off remaining $4500 off their taxes. Net result they didn't have to pay corporate income tax on $4500 they wrote off. Assuming Chase's tax rate is 20% - they saved $4500 * 0.2 = $900 off their taxes 6) Total loss $4500 - $900 = $3600. You see the picture? No matter what it is their loss, more or less depending on the actual, not hypothetical, numbers. WHAT ABOUT THE INSURANCE? Ok perhaps there was an insurance that I'm not aware off. Let's look at another example. I asked to borrow your fully insured car, promising to pay you back if I damage it so that your insurance will never know. You were kind enough to let me drive it. I damaged the car and didn't pay you back. You spend time/money going after me and finally decided it's not worth it, and filed claim with your insurance. Your insurance made you whole but as a result raised your rates. I came back to you few years later asking to let me drive the car, promising to pay again. Would you let me drive the car? Perhaps better question what would you think if there was a law that required you to disregard past bad experience with me after 5 years and let me drive the car again?

Has anybody ever experienced this? The answer isn't going to change no matter how many times the question is asked. He defaulted on a financial obligation to Chase. They are fully within their rights to rely on their past experience with him regarding the decision to not extend him any more credit. It comes down to the old adage, "Fool me once, shame on you..." Did you try this? Or are you just talking Try what? Look nobody is saying that you will not ever be able to open an account with Chase. Perhaps your friend's application had been denied for an unrelated reason. All we are saying that Chase suffered a loss on your friend. And it is possible that Chase decided to blacklist your friend forever. If they decided to blacklist forever it is within their right and only way to unblacklist would be to ask Chase "what would it take to take me off that list". Sometimes they will be willing to unblacklist if CO is paid in full. Nothing stops your friend from applying to Chase every 6 month, but if he gets denied, there is nothing legally your friend can do to make chase "forget" about prior bad experience with your friend.

Why not if you collected insurance on the account! Also you sent it for collections for a second payment! Then wrote it off with a 1099 for the Third payment So why not do it again and make more money! Great then when do we start? I'll borrow 5K from you never pay you back and you make money on this then I'll come back and borrow another 5K from you and we'll both keep making money! Chase did not pay for this bad LOAN So wake up! Who did pay for it? Let's look at a concrete example 1) Chase gave a loan let's say for 5K. 2) Your friend repaid let's say 1K. Remaining balance 4K 3) Chase hired collectors to hound your friend for the payment - it cost them 1K until they decided to give up - back to $5K balance 4) After giving up on being paid. Chase sold loan to a CO for 10cents on $ - $500. Total loss $4500 5) They 1099 your friend and wrote off remaining $4500 off their taxes. Net result they didn't have to pay corporate income tax on $4500 they wrote off. Assuming Chase's tax rate is 20% - they saved $4500 * 0.2 = $900 off their taxes 6) Total loss $4500 - $900 = $3600. You see the picture? No matter what it is their loss, more or less depending on the actual, not hypothetical, numbers.

Why not if you collected insurance on the account! Also you sent it for collections for a second payment! Then wrote it off with a 1099 for the Third payment So why not do it again and make more money! Great then when do we start? I'll borrow 5K from you never pay you back and you make money on this then I'll come back and borrow another 5K from you and we'll both keep making money!

What, its better to have the profits on the backend, charged to the merchant and hidden to the consumer? In a free market, merchants would be free to choose cards based on costs. In the CC acceptance market, there is no competition or free market - the only merchants who have control in the pricing of CC fees are big retailers - like walmart. Your local small business has 2 choices- take the cards and pay what the bank demands or go cash only have lose customers. It's clearly not a free market for most of us - there is no competition. Why is it not a free market? There is no law that mandates small merchants to accept Credit/Debit Cards. Big banks and Visa/MC must balance the fees, otherwise if they charge merchants too much and their charges outweight the benefits of having more customers, they would loose business and would have to lower their fees. As a business they provide a service by allowing merchants to accept CC/Debit cards. This service gives merchants three fold benefit 1) Opening door to more customers (I personally would not cary much cash and would not shop anywhere, not accepting a CC) 2) Supposedly people who do cary cash and credit cards tend to spend more if they use CC. 3) Lowering cost of cash management and lowering fraud by in-store personell. How is this not a valuble service? Why should it be regulated. If the costs get too high, merchants will stop accepting it, Why should the goverment mandate the cost of this service or mandate how the contract should be written?

I've had a similar experience, paying by check, and the dealer insisted on running my credit. I didn't think about it at the time of the purchase, because I wanted the car right away, but I am wondering now how feasible would it be to tell car dealer: Here is the check. I don't want you to run my credit. Hold the car as long as needed until you are sure that the check funds are good, then call me and I'll pick up the car?

HAMP is a vouluntary on the BOA part. Thus there is no "wrongfuly denied". If you were planning to stay maybe it would be worthwhile to attempt to do the mod again. However complaining and raising a hell is a big waist of time in my opinion as no laws were broken.