Grizzly
11-22-2005, 03:45 PM
First let me say thanks to everyone who commented and offered advice and encouragement
So I spend the night with my guts in knots.
Yes in knots. for all those people who see me as a well balanced unshakeable person..well I am not completely a rock :) there are a few things that will trigger me...this type of, now, uncontrollable thing is one (one of the others is to mess with my family and friends but that triggers the person doing it to have knots in their stomach...usually Grizzly fist sized knots)
In any case I was not too pleasant a person to be with last night I imagine. Sorta off in my own world of thought...and some crazy thought at times.. mmmm 6 months in a low security prison to get debt written off? errr no thanks.
Anyway..I go to the Bank today and basically get turned down. They will send me a letter later in the week explaining why...why bother I know why it is this loan. Not like I thought they would give me a loan anyway but .... oh well.
So I call this guy back from the collection place, his name is Chuck. He listens as I tell him i was turned down for the loan and he says well this atleast shows you made an effort to get the money...by the way did you talk to your family maybe one of them can help, if they own a house they can do a house loan to pay this for you. Errr wrong. My sister is newly married and has a mortgage and my parents are on a fixed income, besides I would hate HATE to have to ask them for monet. I did not tell him that second part.
Ok so he says he is going to talk to his manager and puts me on hold.
This is when something dawns on me..there is not hold music. There was none yesterday either. So I am thinking he has a list of things he can do for me. Starting from being the worst of stuff and then says let me talk to my manager and then he goes to the next things, which is better for me which makes him look like a good guy for helping me out. When in actuality he actually put me on mute and is surfing the net for 5 minutes to make me sweat. I know this cause I do this to my end users sometimes when they are a pain in the ass and putting them on mute lets you catch nice tidbits that they normally would not say when you are on the phone with them.
He comes back and says his managers are happy and they have a 'deal' for me.
So the deal.
$1042 down payable in 2 payments of $521 one due in 7 days and the other during the month of december. After that $225 a month.
Now he said this puts me on the Loan Rehabilitation program
What does this mean?
If after 12 months of on time payments the following happens
1. The loan is out of default status
2. They remove all collector and penalty fees (which equals to about 4k at this point)
3. They will not seize my tax refund
4. It comes off of my credit report completely
5. Eligible for taking out more grant and student loans
Ok so it looks really good. One thing comes to mind...on point 2. after doing the down payment and the $225 for 12 months it almost equals up to the collector and penalty fees so I am curious if the money paid for the year goes to the principle or what?
Another is this. I can swing the $521 in December for the downe payment (need to find out if the $225 a month starts in december or january) But I do not have the $521 right now for the 7 days. *grumble* Ok I have some of it.. probably half of it but I need to look at my accounts to see.
So I can see some light through the trees...but I like trees so lets not use that analogy.
I see some light at the end of the tunnel, unfortunately it is blocked by a rock and my pick-axe is rusted and damn near ready to break, plus that light is damn small so I have a lot of tunnel to go through till this is over.
So I spend the night with my guts in knots.
Yes in knots. for all those people who see me as a well balanced unshakeable person..well I am not completely a rock :) there are a few things that will trigger me...this type of, now, uncontrollable thing is one (one of the others is to mess with my family and friends but that triggers the person doing it to have knots in their stomach...usually Grizzly fist sized knots)
In any case I was not too pleasant a person to be with last night I imagine. Sorta off in my own world of thought...and some crazy thought at times.. mmmm 6 months in a low security prison to get debt written off? errr no thanks.
Anyway..I go to the Bank today and basically get turned down. They will send me a letter later in the week explaining why...why bother I know why it is this loan. Not like I thought they would give me a loan anyway but .... oh well.
So I call this guy back from the collection place, his name is Chuck. He listens as I tell him i was turned down for the loan and he says well this atleast shows you made an effort to get the money...by the way did you talk to your family maybe one of them can help, if they own a house they can do a house loan to pay this for you. Errr wrong. My sister is newly married and has a mortgage and my parents are on a fixed income, besides I would hate HATE to have to ask them for monet. I did not tell him that second part.
Ok so he says he is going to talk to his manager and puts me on hold.
This is when something dawns on me..there is not hold music. There was none yesterday either. So I am thinking he has a list of things he can do for me. Starting from being the worst of stuff and then says let me talk to my manager and then he goes to the next things, which is better for me which makes him look like a good guy for helping me out. When in actuality he actually put me on mute and is surfing the net for 5 minutes to make me sweat. I know this cause I do this to my end users sometimes when they are a pain in the ass and putting them on mute lets you catch nice tidbits that they normally would not say when you are on the phone with them.
He comes back and says his managers are happy and they have a 'deal' for me.
So the deal.
$1042 down payable in 2 payments of $521 one due in 7 days and the other during the month of december. After that $225 a month.
Now he said this puts me on the Loan Rehabilitation program
What does this mean?
If after 12 months of on time payments the following happens
1. The loan is out of default status
2. They remove all collector and penalty fees (which equals to about 4k at this point)
3. They will not seize my tax refund
4. It comes off of my credit report completely
5. Eligible for taking out more grant and student loans
Ok so it looks really good. One thing comes to mind...on point 2. after doing the down payment and the $225 for 12 months it almost equals up to the collector and penalty fees so I am curious if the money paid for the year goes to the principle or what?
Another is this. I can swing the $521 in December for the downe payment (need to find out if the $225 a month starts in december or january) But I do not have the $521 right now for the 7 days. *grumble* Ok I have some of it.. probably half of it but I need to look at my accounts to see.
So I can see some light through the trees...but I like trees so lets not use that analogy.
I see some light at the end of the tunnel, unfortunately it is blocked by a rock and my pick-axe is rusted and damn near ready to break, plus that light is damn small so I have a lot of tunnel to go through till this is over.