Financial death update...

Tracy's post made me think of something. We have been having problems with our furnace and had the repair guy here recently. He changed the filters and made sure all of the vents were open. The furnace was cycling on and off. This helped some but hasn't fixed it. Anyway, maybe that could also help keep it limping along!

I like the handyman idea! Much better than you risking injury on the roof.

Geez, it's too bad that the credit card companies didn't send a note or some sort of heads up on that change.

Hang in there, Heidi! I know it isn't a huge help, but hopefully you will get a program year salary increase come July.

[Meenah]

The credit card cpmpanies did send a notice, I spent several days vomiting after it arrived.
Luanne

[Vanquisher]

Okay, so I spent a long time last night looking up this credit card minimum thing, and I can find no atricle that points to it being mandatory or a specific date. One of my cards is an MBNA, and I have seen them mentioned, but most of the articles say they should have implemented this change already. The other cards I have are not mentioned. Most of the articles say anywhere from 2-4% making it sound like it is to the discretion of the credit card companies. Anyway, I am having a hard time finding anything concrete on this. So, if any of you have any concrete info on this, I would love to see it so I know if I need to off my husband. He has more life insurance than I thought. I never got anything in the mail to the best of my knowledge.

So, questions are:

1. Mandatory for all cards?
2. Exact deadline?
3. Up to 4% or 4% for sure?

Dh seems to think I am worried over nothing and that if it were to effect us, it would have by now.

Seriously, if my cards go up to 4%, we are so screwed, I cannot even begin to tell you.

IF you can get some time (say about 30 minutes or so) that are less kid intense. Hop on the phone, call the customer service numbers on the cards and tell them that you heard about this increase, ask them about it. I suggest you call all the cards you use. They are SUPPOSED to be trained to help the customer, and in this case you are a main customer since you are making minimum payments. If you get someone that doesn't have any idea, or makes you feel that they don't value YOUR money....ask for their supervisor, in a very nice manner. Then work them about it, and also ask for some help on the IR if you can....you never know what you will get unless you ask, the worst they can say is no. We have gotten some good stuff from the cards that we carry, by just calling and asking simple questions and then getting a supervisor and asking them again and then asking for help....I recently got nine months of 0% on one card and the other was lowered to 2.9% for six months....This Christmas is gonna suck for us too.

[Meenah]

Heidi,
It won't help but al least you won't be alone. We will be right there with you. Misery loves company. We are basically living on credit and it sucks. I wnt back to school and I get 50% reimbursement for my job, and the other 50% I have put on credit cards. I told by husband we are so freaking bad off I just don't care, they can't take away my birthday!! At least when I am done I should be able to make more $$.
Luanne

[houseelf]

Luanne,

Are you eligible for financial aid? I know that you're 1) employed; and 2) a "dawktor's wife", but certainly campus financial aid can help you figure out something better than consumer debt, especially since you have so many kids in college. Government loans are typically at a lower interest and have better benefits like possible deferments, forbearance, and forgiveness for work in high need areas. Have you visited with a financial aid counselor?

Kelly

[Meenah]

Kelly,
I matriculated my second semester, and I can fill out the FAFSA form January 1. Caroline is also going to be filling one out. I can only tell all of you now, never get divorced. We basically "started over" in our 40s!!!!!! We are planning on meeting with a financial counselor.
Luanne

I was surprised when looking at my credit card payments, and saw a seventy dollar increase on one of my cards. I was alarmed, and called the company. They said this was normal. The minimum payments are on the rise. I started freaking out, because we live off of our credit cards. Supposedly the company has 15 days to inform you. I found this link talking about the whole thing. Hopefully, this will help.
http://money.cnn.com/2005/06/24/pf/minimum_rise/

Christy

[Malpka]

I just got my first double-the-current-minimum-payment bill from MBNA today. I thought they were already in compliance so I was shocked. Spent the rest of the afternoon sobbing and looking at the help wanted ads

[planet]

Hiedi,

How are things going? I don't actually know you, but I have been thinking about you and hoping things would work out. It sucks that the moonlighting restrictions aren't flexible. Your children are beautiful btw!

Janet