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Mar 15, 2007    |       4 comments

Debtors’ H…E…Double Hockey Sticks

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A reader sent me a link to the a series that the Boston Globe is running about some horrible debt stories. The series is aptly titled Debtors’ Hell.

There is actually so much information there that I’ve been reading and I still have more to read. There’s personal stories about old debts coming back to haunt you or how some people are having their cars seized for old debts under $500.

Reading those stories, I can’t help but feel glad that we are not in those situations. Yet, I know that we are one financial hardship of possibly being there. I also found myself getting so angry at some of the tactics that debt collectors are using. Yes, a debt means that it must be repaid. But when the tactics are shady and go behind the backs of people, therefore not letting them make the debt right before extreme measures are taken, I do not believe that is right.

With reading the stories, you’ll see what I mean.

Note: You will have to register for free at Boston.com to read the entire stories.

Mar 15, 2007    |       14 comments

This is a Little Embarassing…

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First off, something that is a little redeeming…I paid a few more debt payments and our debt total is now at $21,891. It is inching towards $20,000 and I am getting excited to be so close to that next milestone.

Now for the embarassing part. If you look to the right you will see that my savings total is down to $1,147. Just a few days ago, I was excited to let everyone know that we had reached $1,600 in savings.

What happened?

I’m not sure if I made the transfer! The money should have been withdrawn from my checking account by now and it hasn’t been done. Looking at my savings account, they money is not there and it doesn’t show a pending transfer. Usually I print or note confirmations and I couldn’t find one. So, it appears that I started to do the transfer because I remember filling everything out. Perhaps I didn’t hit the final button to seal the deal. I am so embarassed.

Add to that the fact that my math is horrible! The transfer was for $503. If you take the savings balance before ($1,147) and add them together, you get $1,650 NOT $1,600.

There’s a part of me that is saying to wait a few more days before trying the transfer again, just in case. My checking account is run so low that it would not survive two transfers of $503. Until I know about the transfer for sure, the best thing to do is to decrease the amount under savings.

I’m really surprised at myself that this happened because I am usually very detailed. I check and double check things – one might even say that I check things too many times. I almost have to wonder if this was meant to happen for some reason. That perhaps I am going to need that money for something else (like a bill I happened to forget about).

I guess time will tell, and hopefully sooner than later I my savings will increase again.

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