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deadbeavis

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  1. I was in a lease agreement to rent a clarinet with the option to buy. I paid on time for a couple of years then my CC expired. I let a lot of time go by (like 6 months) before remembering to acknowledge the issue but in no way does this amount to theft. However, Veritas is sending me collections with my state statute for the reason of Theft of Conversion citing a threat of criminal prosecution. When I spoke to them about a month ago I had every intent to pay off the amount I owed (something like $300) since they refused to allow me to re-enter into continuation of lease. Additionally, they have listed on my TU and EQ CR and when faced with this question, said they will remove once full payment is rendered (I have this in writing). This sounds like blackmail by an instrument not intended for this purpose, but I will admit lapses of judgement not paying earlier. The problem now is they wont honor any removal, only demand of return of instrument. I've made attempts to contact them the last couple days stating the date, time, purpose of call and my phone # during their business hours, yet have not heard back from them. What are my possible recourses and actions here?
  2. I inquired about this with my Discover card prior to making purchases before I did one just to see what would happen. CSR said to avoid purchase interest payments exceeding min due are first applied to charges subject to higher APRs. Keeping that in mind-- Balance was 0 Transferred $7k at 0 % APR Purchase APR is 12.5% Made a 9.00 purchase 7/12 Once it posted a few days later paid the 9.00 Paid the min due at closing 7/23 Got my next statement no interest charged. Paid the min due at next closing Got the next statement Charged 1.37 interest. Asked CSR -- they said avoiding higher interest on purchase was NOT guaranteed carrying a balance with lower APR. I asked them to again outline how this works. They could not explain clearly, only to state I should avoid making purchases if I am used to paying in full. So why have a rule to avoid interest on higher APR if its not guaranteed? Meanwhile, checked with Amex and it's exactly as expected: I am offered a Grace period for purchases with higher APRs carrying a balance with lower APRs. As long as I make the payments before the closing date and its covers the purchase balance (above min due), there is no interest assessed. Its seems Discover is taking advantage by charging interest immediately after using the card for purchases with a baiting promo offer. I don't think anyone in their right mind would stand for interest being charged immediately after a purchase, which is what is seems to be.
  3. Nah wasn't one of those but just saying APR is in much larger fine print than when the specified APR is imposed. Based upon side effect from phone talk I would not depend upon them to help with anything bigger. I have never experienced first hand a bunch of corporate monkeys in action like that. Absolutely zero thought process responses.
  4. That mortgage APR is unheard of! How did you manage that? I thought mine at 3.8 was good. Now I feel scammed lol. Why I don't shop at Whole Foods anymore. Too much good stuff (at least used to be) and the costs are usually not supportive compared to adequate alternatives.
  5. I would agree in a bubble and manage most of my cards without revolving balances except promos. However, not everyone manages their cards without carryover balances and even mistakes or routine of busy life allows that to happen. If a card charges 50% interest from day one wouldn't that grab your attention? This doesn't but comes close enough! I spoke with 3 reps this AM, they are like f'n monkeys. No way to know why exactly and no way to change through 'normal' channels (probably a backdoor or retention method but will wait until the promos expire)
  6. Just applied and approved 10k @ 27.74%!!!! None of my cards are higher than 15%. FICO Score 745 no revolving debt at time, no inquiries, 400k mortgage @ 3.8%--they pulled TU. Only got card for promo 250 back /1000 purchases 0% 12 mos. Will sock drawer after that. This seems like super subprime.
  7. Noticed a trend of older TL's dropping off CR, like really good closed history of mortgages, loans and CC's. Some were nearing 20 years, others were <10. Reduced ages of history and thus score drops. Anything todo about it?
  8. Anyone have this card? Just got in mail with No AF, No BT Fee, and 15 mos @ 0%. Worth a hit? Doesn't seem subprime.
  9. Sorry-- I was thrown off-topic for a moment and apologize for not responding to some comments including yours which were fruitful but didn't acknowledge. Back on topic -- appreciate external links and direction. I gathered: It seems i'm better off leaving 401K loan alone for now (which answers my main concern) Concentrate on high APR. Find better advice from a 3rd party fiduciary or forums to reassess 401k designations
  10. Not gonna harp on it any further as you have come across twice as unhelpful, ignorant and belittling. I did this to stop the bleeding temporarily despite my attested novice investment experience which I otherwise entrusted plan management to screw up. Further -- it's 40% of my port., not 100%, so it's not 2% annual return universally. Obviously I managed to have the capacity to realize this cannot be sustained, otherwise I wouldn't bother to post it here as secondary info to my main topic. But thanks for making that clear. So I retract my previous statement. Appreciate the no advice and additional further wasting of my time.
  11. I'm not that dumb. If you read correctly you would have understood why I did it. The plan administrator dedicated 100% of my funds to a 2035 plan that lost 6% of my portfolio in the last quarter. So with your statement I should have kept the 40% in a losing fund. Brilliant advice.
  12. It's 10% flat and I believe there is a ceiling based upon contribution amount. I get full 'benefit' of this @ 7k Last quarter, fees were $450 on <180k portfolio Essentially, I am paying 25% in fees for every $1 currently contributed. While my expertise investing is wobbly at best, I lost 16k last quarter (6% of total portfolio) in a MM JPMorgan 2035 Fund. Since then I voluntarily moved 40% to 2% Guaranteed funds. Company did move from Brighthouse (was Metlife) to Mass Mutual about a year ago, on the basis of better service and transparency, as well as expanded options., without any mention of added employee costs. I found no advantage to MM nor any additional benefit. The plan mgr pretty much sales pitched a blatant statement-- I am getting a freely managed account once factoring in contributed matched funds. How pathetic. Being its a small company with tight connections, it is impossible to convince anyone to migrate to another plan elsewhere. I am fairly certain there are exec incentive trade offs.. Not much recourse unless I change jobs presumably. Hiring a financial advisor is like being stabbed twice, but I've let this leak ponder for too long.
  13. I have two 401K loans totaling 12k @ 5.5% paid back to me with after tax. I have CC debt totaling 36k 20k is @ 8.25% 10k is at 12% rest is +/- 20% I have about 35k savings but that would essentially include wiping out any emergency funds. The no-brainer is to eliminate 20%. The dilemma is whether to pay off 401K plan first or not. My job is stable but ya never know. I realize the consequences (payback in 90 days if fired or laid off + taxes/penalties) Double taxation is a myth but penalties are not. My 401K is horrible. Fees are over 1.3% thus negating any company match. Its not managed well from bad advice and possible options allotted. I made less than 2% last couple of years. I put away 7k/year. So after weighing above status, before I pull trigger should I pay 401K off, partially, or concentrate only on the CC debt? My current gut tells me to pay off 401K completely, pay the high CC %, leave about 5k in emergency and pay off the remaining CC in snowball. But there may be caveats I am not aware of (which brings me here). tks
  14. Maybe this question has been asked before but had difficulty finding threads on it. I currently have a mortgage with PMI of $193/mo. based on mortgage fico 723. I know that PMI is pinned to mortgage FICO directly. I also know that PMI is INSURANCE. I also know that INSURANCE RATES can be adjusted. Additionally, I know I have ability to shop for PMI but rates are usually similar. With that said, it would seem logical that PMI can be adjusted based upon logical factors directly affecting like mortgage FICO. It would also seem logical that if PMI can be removed at 80% LTV, then it can be adjusted or removed at any time based upon milestones like better FICO. As I saw a 740 FICO will reduce PMI by another $50-60/mo, this is significant. My scores have increased a lot since inception. How do I go about requesting an adjustment? TY
  15. Good news! EX and EQ deleted yesterday. 4 months of this finally over. Thanks very much WC for all your help here.

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