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About ManWithANewPlan

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  1. Not necessarily. There are tax benefits for carrying a mortgage as well. It's not really a straightforward question to answer. There are a lot of variables involved.
  2. From what I can tell you and the other co-signer are on the hook for the remaining balance. If you also have an account with the credit union, they probably can draw funds from it. They can't draw money from accounts you have at other institutions.
  3. These two statements seem contradictory to me. The whole point of a cosigner or guarantor is to pay if/when the original person cannot/did not, isn't it?
  4. No, that explanation makes sense. I've paid the fees, that's a done deal. I am still irritated about the amount of fees compared to the amount of the transactions (the .30 is not an insufficient funds fee charged by Paypal, it is a processing fee they charged). If, for example, Paypal had simply added their processing fee to the amount of the original transaction instead of processing it separately, I would have only had one insufficient funds fee applied. Or if my bank had processed in a different order instead of one designed to maximize their fees it would have been one insufficient funds fee rather than seven. Either way I've already taken it as a lesson learned and switched banks. Thank you for pointing out the language regarding drawee/payee; I'd missed that entirely, as you surmised. I'd stumbled across something recently that stated the maximum fee allowable was $30 and went looking for the source in Tennessee's code. I'm afraid I'm not very experienced in reading the law and have trouble knowing where to look and parsing through the legalese.
  5. I sent a letter to the bank about it; I'm awaiting the response. I agree, I think the $30 limit is per transaction, which they exceeded by charging $35. I've also contacted the TN Department of Financial Institutions, but no response yet there either.
  6. These are all perfectly reasonable obvious responses that are also applicable to the credit repair process as a whole. In other words, the best course to take is never to never get yourself into the problem in the first place. The question, really, is when you do screw up, and I'm sure most everyone reading and posting here has, what reasonable measures can your bank (or creditor, or the CRA, or what have you) take? Is it reasonable, as in my case for example, to charge $210 for $1.80 in transactions (11,666% of the original amount)? To my mind, the answer is no, it's not, and I wouldn't mind some sanity being applied to the process.
  7. Nothing to be sorry about. It is pretty exciting!
  8. You mentioned you were not wanting to put it on your card with the $6500 CL because that would put you at 50% utilization. If that's the case, why would you consider getting a new CC with a much lower limit that would put you at an even worse utilization if you used it? Just a thought.
  9. One CRA has no idea what another CRA does with respect to your CR. You must dispute the TLs with each CRA.
  10. Last year I made some charges via Paypal knowing that they would roll over to backup funding and, after having checked Paypal online for the total balance, deposited funds in my bank account to cover the charges. Paypal, however, was not showing all the charges on the first page of the account and as a result I deposited too little. Naturally, that resulted in in an NSF charge. To add insult to injury, however, Paypal charged a $0.30 fee for each transaction (6 in total). Because of how banks order the drafts to maximize their fees, that meant I was hit with an NSF fee of $35 for each $0.30 transaction, or a total of $210 in fees for $1.80. After some research, it appears to me that the maximum NSF fee allowable in the state of Tennessee is $30 (Tenn. Code Ann. 47-29-102). Specifically, My questions are these: first, is my understanding correct that the $35.00 fees I was charged are illegal in the state of Tennessee based on the quoted statute, and second, what recourse do I have with the bank if it is true?
  11. The percent sign is typically a wildcard character in a database. If you search for 'xxx%', for example, it means search for everything that starts with 'xxx'.The fact that it actually works on the site is not good news for them. It means they are likely open to a SQL injection attack.
  12. I also used to have a Providian card which I think was sold to Emerge. The more I learn about the collection process, the more Emerge appears to be a CA masquerading as a credit card company. They certainly act like a CA. When I started my own credit repair process, like others I think, I thought the path to take was to contact the folks sending me letters and make arrangements for payment. I did this with emerge and have been paying on this account for a few months. The more I learn about the company and the process, the more I think this was a mistake. I'm debating, however, how to go forward from here. I'm wondering if I should stop payment on this account and send them a debt validation instead? I'm also concerned that paying on the debt is tantamount to admission and I'm screwed in any case. Any thoughts on how to proceed?
  13. You're still within the 30 days for debt validation. Follow the debt validation process and ignore their calls.