Thursday, September 30, 2004

More amazing and annoying financial stuff

I don't know if I mentioned that the case of the Estate of Daniel Fogg, may the actual guy not be spinning in his grave at what happened here, vs me was settled for 100,000 and then I guess moved to a malpractice suit against the hospital.

For some unfathomable, queer reason a lien, judgment, some legal word for the 100,000 was put against me and then my car insurance is meant to pay that off.

What this means to those of us at home is that my credit card companies suddenly saw this huge amount of money that I supposedly owe and they lowered my limits to pretty much what I owed already and then jacked up my interest rates, in one case to 39% and the others seem to be around 29%.

The other side effect is that suddenly I am inundated by eager credit cards who want to do the predatory lending thing to me thinking that I am desperate for credit at any price. Little do they know that the all great and powerful Kevin is going to help me make absolutely sure this judgment thing is removed at the repository level.

Here is the rundown of the card offer I got today.

APR 23.9%
Annual Membership Fee $69
Enrollment Fee (One Time Only) $69

Then some other stuff and here is the best part -

Closed Account Maintenance Fee $3 per month after account closed until paid in full.

Here is what I am thinking. They charge you $138 to open the account. They give you a 200 dollar credit limit. They sit around waiting for your to fuck up, because after all this is deadbeat credit card company. They then start charging you 42% interest, $29 over limit fees because you go over the limit right away with the extra interest and the $29 late payment fee and then they close the account but charge you an extra three dollars a month to have the account closed. Now that is finance at its finest.

Oh yes, of course you have never actually used the card for anything. You haven't even bought a candy bar but still you are now lying awake at night panicking over how to get this thing taken care of and your credit is worse than ever.

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