I am getting sick. AGAIN. I just got over being sick!!
Posts Tagged ‘Stress’
I received an email early last week from Amazon stating “we have deposited $170 to your checking account.” I thought, “great, money from selling my books, that will go straight to one of my cards.” So, in my eager-beaver way, I logged onto Bank of America and made an online payment.
The $170 didn’t arrive to my account until yesterday and by then I had overdrawn my account and was charged $33. Now I have $6.50 in my account and last night I used my card to buy $10 worth of gas. I scurried over to my ING account and transferred $50 (from our travel fund) into my account in the hope that it will clear before my gas debit does. If not, I can expect another $33 charge. AND, Lending Club is going to withdraw a small amount (under $1) from my bank account in the coming days to verify my account for a possible loan. This would result in ANOTHER overdraft fee.
It’s kind of like watching a train wreck, isn’t it?
Dude, fuck this. I am spinning my wheels trying to pay down debt while being charged in the hundreds of dollars (each month) in interest. I’ve been caught (along with many others) in the perfect storm. There’s no new credit available, and all of my credit card limits have been bumped down to just north of my balances.
I have good credit, in the mid-700s, and in the past I’ve simply moved balances to lower rate cards (and, as you can see, that worked out so well for me). Now there’s nothing. Nada. I managed to get ONE new low interest card but my limit was put at just $1500. I’ve been weighing my options, which are rather depressing, because I cannot stand to look at another $100+ finance charge. My options are as follows, in order of priority:
Call The Credit Card Companies And Ask For A Lower Rate
I won’t lie, this scares me a little. I am incredibly passive and I hate negotiating. Also, I feel as though creditors now have the upper hand. I’m never late on payments (except for one time), I always pay over the minimum, if only slightly. So, I can’t use the excuse that I am unable to pay. I can threaten to take my business elsewhere but they must be aware that credit is tight, and if they look at my credit report they will see a number of inquiries as I’ve tried, in desperation, to open a few cards recently. Should I lie and say that I’ve lost my job or was demoted with lower pay? I’m not entirely sure how to approach this and would love some advice.
Try To Get A Personal Loan
If I am unable to negotiate any lower rates from my creditors, this would be my next step. However, I am not confident that this is a possibility, as the loan industry has also been impacted by the credit crisis. I’ve already submitted a loan request to the Lending Club to see if I get a bite.
Seek Help From A Debt Consolidation Organization
I’ve already kick-started this as well. It should be my last option (well, before bankruptcy, which I refuse to consider).
All I know is that I need to do something, and fast, or I will be swallowed by this debt.
My finances are crap right now. I somehow (don’t ask) ended up with -$5.35 in my checking account. So, I had to transfer all of the money ($233.65) from my Amazon seller account because I have to pay my B of A card by the 9th of January, and the minimum payment is $334.
I don’t get paid again until January 2nd, and I am planning on throwing a get together December 30th (a budget party, for a future post) and I have NO clue how I will cover the cost.
These are the moments when I say “fuck it” and give up. But, hopefully writing this out will quench that urge. I suppose I will have to live off the $39 I have in cash for the next two weeks…..