MBNA GONE!

Got the eStatement for my account at their website and they got the MO for the guitar.

I only owe a $35.31 balance (It was $11.80-something, but I guess their interest got snaked in before the payment got there…) and I have that set for being paid tomorrow.

Then that is another bill out the door for good! YAY!!!!!!!

Anyway, Thought you’d like to know, even though this is not the Barclaycard people, I have one less debt to fret about per month.

Yeah, I think ‘hehe’ sent that (You are the same?) Anyway, I do feel good now. Will be able to sock it off to JUNIPER now and tell all of them to go to the theological place of Eternal Punishment.

This is a terrific article

And not only for what it shows about the demographics of debt.

The credit card industry itself has definitely grown out of control since deregulation. (Example: you gotta love the fine print on many credit card info sheets that says they reserve the right to change your interest rate at any time, for any reason.) Interesting, too, to see the sweeping changes they’ve made in just a few years’ time–none of which benefit the consumer, you may be sure!

While those of us who have credit card debt (myself included) have incurred this debt ourselves and are responsible for paying it off, the credit card industry definitely needs to be reined in. This article gives excellent points to put in letters to the appropriate government officials/agencies.

Your posts regarding your own situation are tremendously helpful to me. I’ve been a member of the group for less than a week, but I’ve already learned a lot, and have implemented attitude and lifestyle changes based on what I’ve read.

Here!Here! Yet, I defaulted because of a catastrophic illness. I incurred reasonable debt that was easy to pay off with a corporate lawyer’s paycheck. One day I went to a dentist because I finally had cash to purchase a gold filling. After six hours of normal pain, I started to feel unbelievable, agonizing, tortuous, excruciating pain. I would have found the money if the pain would go away with money. Just as the Internet article says plastic is a safety net today. I lost my profession, my friends, my shelter, etc. What about people like me? The collection agencies infuriate me. I must say, however, that when the original creditors heard my plight, they were nice.

I found MOST cc’s would work with me before, but now it seems they won’t. Juniper’s unbending attitude was very hard nosed. When I lost my dad in 2001, another card and a VISA did work a bit with me, and they’re gone. But this time around, it is like “Tough luck, broadski…” so….

When one card did sell my debt, the COLLECTION agency bent over backwards to actually work it out with me. At the time they were Machol & Johannes in colorado. It helped when my situation got better and I called THEM to raise my monthly payments. They were like “You’re one of the very few who actually contact US! Of course we’ll work this out with you…”.

It is safe enough to do that with the MBNA

Well, it is safe enough to do that with the MBNA, as it is not a Card, but a financing program which is no longer usable…really, I could access direct cash, but don’t want to with their 23.5% interest.

Target I can cut up the card, but keep it open and not use it.

The B/L ratio? Sounds like Borrower/Lender…. is that right? That too sounds realistic enough. I could get a home loan easily, but don’t ever want to risk my home, so with the low interests I’d still be paying 3 TIMES as much over 30 years instead of just ridding the debt in about 2-4 years. But who knows? If I want to move to some old folks neighbourhood when I turn 65 (15 years down the road…) I might do that… dunno.

Anyway, thanks for the input, I do like Dave’s way for most things like store cards and such. But I do think some should have an emergency VISA or MC in a bank vault or something for real emergencies.

“Proper” way to close an account?

Now that MBNA is no more, what is the best way to close the account? By snail mail letter? By phone call? By both?

Does it look better if I close the now paid off account? Or leave it open and as there is no card just letting it go?

Deciding against trying for a 0% interest card, I will be socking it heavily to barclaycard. I want them GONE because of their crud. I ePaid $100.00 for today and will pay something like $75-120 per payday – depending on my hours and such- until it is gone!!!

My next 2 smaller bills are Target $307.66, which I plan to get gone quickly too… and a Kirby vacuum Financed through United Consumer finance ($260.00), I have only 5 more payments on it and then it’ll be gone too.

Target can be closed too, once I’ve paid it, and the vacuum is a set account which will be gone the day they are paid the final on Oct 30, 2016.

I was reading where someone said to notify the creditor that you wish it to be ON RECORD that YOU asked to close the account. That is why I am asking about the best way to do this.

It’ll be so good to be out from this dang trap, I feel so ‘clean’ right now having one down and finished on this day YAY!!!!

I closed QVC and Firestone by calling the Credit Bureaus individually and asking them to “close at consumers request”. That way it is worded that I initiated it instead of the Creditor initiating it. A week went by then I decided to call both Creditors. I told them that I told the Credit Bureaus and did not know if I should tell them (the Creditor) too. Both Creditors sent me letters stating that they closed the accounts at “consumers request”. They were reported “closed by consumer” within a month.

There are two schools of thought. On is the Dave Ramsey way — close everything to have no debt. The other is too keep them open to help the B/L ratio and hence the FICO Score. If you think that you would someday you would like to redo the interest on a Mortgage, or get a home equity loan or want to get “one” good card, I would leave it open to help the score B/L ratio. If the accounts are closed, they with still help for the overall age of the credit file info. Also if they are not used for 6 months, they become inactive and stop helping the score too. The longer the better.

It is up to you.

Re: Debt collectors question

My dad had a CHASE Visa, and got my name on it too so if I needed it if he was in diffs health wise, I could use it.

Mainly he used it on car things, house repairs, clothes and such.

When he passed on in 2001, they (CHASE) sent me a request for the death cert copy and a paper to sign. Remember, I was shell shocked from his death, can’t see well, and had no other family to help me. I signed what I now know to be a paper taking responsibility for the debt. But the card people would not work with me, and wanted about $630 a month. I was getting $780 a month from SSI. I knew nothing about legal things, and was getting calls every day about this. Some were ‘nice’, others were threatening to open his estate and slap me down in court. I even looked into bankruptcy, but that would have left me with no house, little money to reloacet to g-d knows where…

They sold it off to the collectors, who said they would in fact work with me. And they have… but when that first year came and I called to see how it was doing on my payments and such, then she told me about the interest, I got very upset and said “I’m sending you over 1/4 of my living money! What am I to do now?” she said look into it, and about an hour and a half later she called me back and put me on the phone to Mr. Johannes, and he told me they scrapped the interest and put a new lower balance on, instead of what I originally had.

It was my stupidity to sign carp (My way of saying ‘Cr*p…”) without having it looked over, but at the time, I pretty much was numb from every thing around me when he died. It was the 11 of September 2001 when he died, but so did over 3000 people in the twin towers. I pretty much isolated and sadder than he** for my loss, and everything else.

Anyway, it’s done and I guess I made my bed and have to lie in it. No money for legal, so…..

Dad and I had this house and all in a trust. So to get the house and all in my name was easy, and the property taxes are ‘grandfathered’ on the Prop 13. so thankfully, I don’t have to go homeless.