Whiny

[valis2]

I'm back, and I'm waaay angry.

I have six credit cards, each with their own balance, from when I started the business. I've been working on them slowly for years. Well, last month I decided I would do a balance transfer to consolidate two of them together for a better interest rate. Card #1 has a 29.99% interest rate. Card #2 has a 13.99% interest rate, and balance transfer checks for a 5.99% rate. So I've been waiting for #2 to send me the monthly bill so I could pay it off. (I'm never late on my payments (maybe once in the last five years), and generally keep them all in the same place so I can pay them as they come in.)

I come home today, completely strung out from the road (yes, you're right about that, Bob Seger), totally worn out after 28 hours of driving, and with an appointment early tomorrow morning, and then four days of day job. I find the monthly bill for card #1. Yay! I shall transfer your balance, and never shall you bother my mailbox again! But wait...what's this? "Turned over to collection agency"? WHY?!!

Sure enough, I look through last month's checks, and realize that I never received a bill. (Yes, I do understand that it is my fault, it's their courtesy to provide a bill.) BUT WHO TURNS IT OVER TO A COLLECTION AGENCY FOR ONE MISSED FUCKING PAYMENT?!!!!!

So I find the balance transfer checks. They've expired YESTERDAY. I decide to do an electronic transfer over the phone. I call, and end up speaking to a service rep who is very difficult to hear and understand. I have some hearing damage, and I'm trying desperately to understand her, and I keep asking her to repeat herself, but it's no use. I can only make out every third word, and she's saying that an electronic transfer will take 7-10 days, and some other stuff that I just can't make out about lower interests and higher interests.

WTF?! When I send a check, it takes 3 days to get there and be cashed. It's going to take TEN days electronically?! I start to get very stressed out, and finally tell her to mail me some new balance transfer checks. She says something about connecting me and then HANGS UP ON ME.

@#$:OIU*(P%O:ITYPIOERHG:KLWRTHPO@#UI%Y!@OY$@@!!!!!!!!!!!!!

I have to go to bed NOW before I smash something. Seriously. I'm sleep-deprived, stressed, and completely going crazy that my credit is going to be affected by this jackass company.

Comments

[athenakt.livejournal.com]

Ow. Owwie.

Getting one card cleared is good (DON'T cancel it). The raised limits- great news! While I understand you're transferring to lower interest cards, it's not necessarily the best thing to do; when cards are at or near max it's bad for the credit rating.

What you might want to do is go to a non-profit credit agency for help in lowering your interest rates. Florida has Consolidated Credit which I'd considered trying before I got a raise and a better handle on my bills. ;) Do a bit of investigation into these organizations, even if you do the balance transfers.

[valis2.livejournal.com]

Getting one card cleared is good (DON'T cancel it).

Er...it's already been canceled, ages ago. Only three of the six cards are active.

The problem with debt consolidation companies is that it actually looks worse on your financial record to have debt consolidation than to have bankruptcy. Seriously. I would only consider it as a drastic, drastic resort. I'd be more inclined to speak with my credit union and see if they can offer a consolidation loan for a card, or perhaps their own credit card...maybe because I'm already their customer, they won't decline me.

I have friends who have gone through debt consolidation, and it was a really scary, nightmarish thing, and it's not in line with my long-term plans at all. :(

Thank you so much for the advice! *hugs*