Averted Disaster!
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| Tue, 02-23-2010 - 10:17am |
I had a banking disaster yesterday. It was caused by a few different 'freak' incidents. The first one occurred with my timeshare taxes. I sent them a check on December 26th 2009, then I waited and waited and waited and the check never cleared. This tends to happen every year because for some reason it takes them FOREVER to cash a check so I wasn't worried. Then I got a letter claiming I was late on my taxes and they were charging me a late fee. This made me mad because I try so hard to get things in on time so I called and I was pretty upset - for me - because I tend to always be a nice person and I can't stand being rude on the phone. So I got ahold of the accounting department and they said my check was not there even though it had been a month and a half so I asked what I could do to waive the late fee. They said that if I paid over the phone they would waive it. So I paid $115 dollars over the phone. The VERY NEXT DAY my check cleared. So here I was with 2 $115 dollars charges on my account. Because of this, my bank automatically transferred money from my savings to cover it, but I'm only allowed 6 transfers each month and since I use 4 already for my regular transfers to savings, I don't have much wiggle room. I called the timeshare company and they are going to refund the over the phone charge, but it's going to take a few days to go through. FIne, ok! At least I'm getting my money back...those rude people!
Wow, as I'm getting in to this story, I realize that it's going to take a long time so let's just skim through some details and get to the point. The point is that I started using another account for my purchases this week and I deposited a check into this account on Saturday morning to cover them. This deposit ended up being held for 2 business days and I soon realized that I was going to bounce checks. Meanwhile, in my other account, the one that was charged twice, I was going over on that account as well and all my automatic transfers were used up so I was starting to bounce checks in that one as well! You know that feeling, the feeling where you know that institutions are going to start stealing your money and you have no control! I was going insane! I found out that I could make a transfer from savings to checking via an ATM and that would get past my 6-transfer limit. Then I quickly took cash from that account and put it in my other account before the end of the business day so the madness would stop!
SO I was potentially going to bounce 7 checks and I got away with only bouncing 1! I am lucky!!!!
This just makes me realize that I absolutely HATE the feeling of being out of control with money. Once the checks clear and my charge is refunded, I'll be back on track with just 1 $29 dollar courtesy pay fee. Then I'll pay my savings back but still! I don't need this hassle!






Sorry you are going through this. I would be tempted to call the timeshare people and make them pay the $29. Its their mistake. When my mortgage company went crazy two years ago and took out 3 (yes, you heard me, 3!) payments in one month, I demanded they cover all the overdrafts, write letters to my creditors taking responsibility for their mistake, which they did.
Apparently they didn't learn because the did the same darn thing a month later, to which I demanded the same PLUS compensation for bad service. I think I got $250 out of it, but I would have gladly let them keep it in order to avoid the stress.
You should call and ask. It can't hurt!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -
glad you averted the crisis with only a minor setback. phew! i hate the out of control money feeling, too.
next time tell the company you are putting a stop payment on the check you sent. then contact your bank and have them put a stop payment hold on that check #. they will do this anytime you believe a check has been lost or stolen. they told you it was lost!
hope you have a better day!
You did avert disaster! And you are more in control of your money because a year or two ago you may have bounced 7 checks before you realized what happened.
Good rescue!