Okay, maybe it's the cold and the switch off of daylight savings time, maybe it's the "pre-birthday funk" I always get, maybe my brain is in some form of shock from my consumption of approximately 4.75 pies since Thanksgiving Day - whatever the case, Dear old Debt Daddy just can't wrap his brain around a well rounded, coherent blog entry at this time. My thoughts are like so many post holiday leftovers...mystery blocks of aluminum foil scattered about in the refrigerator of my mind. So, in lieu of a proper post, I offer you my Leftover Extravaganza.
Leftover #1 - Go Forth and Prosper
While Citigroup and Countrywide are floundering and their stock has been plummeting (pardon me while I step away from the keyboard to do a sadistic Happy Dance................okay, I'm back now), I got the following from Prosper.com the other day:
YOU COULDN'T HAVE DONE IT WITHOUT YOU
Prosper is pleased to announce that you have helped us reach $100MM in loans! Your involvement as a lender in the Prosper community has enabled people to start businesses, eliminate debt, improve homes, and fund educations. Thank you for helping us create opportunity for fellow Americans through the Prosper marketplace.
It works. And it works without major financial institutions, bottom feeding lobbyists, fat cat CEO's with golden parachutes - who needs all that anymore? People lending money to people - it doesn't get much better than that. My birthday is December 4th. You wanna get Debt Daddy the gift that keeps on giving? Click the link on the left for Prosper.com and fund a loan. Or borrow some funds to pay off the credit card vampires. Either way, we help each other and we help ourselves...and that gift is just what I always wanted.
Leftover#2 - I'm not buying anything from China anymore.
What the heck happened??????? When I was a kid, at least half the crap I had was "Made in China" and yet, it never killed me or put me into a coma. Now, after 40 some odd years of technological advances, they can't seem to make a toy that doesn't assault our kids. Well, this year I've decided to not reward bad behaviour. When China can figure out how to make a toy that's not quite so...hmmmm...what's the word.....HOMICIDAL, maybe I'll reconsider. For the time being however, I'm not even trusting their won tons.
Leftover #3 - Ho! Ho! Hey!!
This is ludicrous; I read a story last week that said certain department stores are asking their Santa's to say "Ha, Ha, Ha!" instead of the traditional "Ho, Ho, Ho!". The reason? They thought some of the mothers might misinterpret the meaning and take offense. I'm not kidding. The problem as I see it? Well, I (like a lot of Americans) am a little paranoid and more than a bit self conscious. You know what I'm gonna think if I walk through Macy's and Santa Claus looks at me and says "Ha, Ha, Ha"? That's right. Santa Claus is laughing...at me. "Did you hear that? I walk by and he says "HA, HA, HA" right in my face! That wasn't a warm, jolly "HO, HO, HO" - oh nooooo, that was a derisive, mocking "HA, HA, HA"! No, no, he's not gonna get away with that. Hey! Fat boy! What's so friggin' funny? (Fisticuffs ensue) Not so damn funny now, am I, ya friggin' Rent-A-Santa!! Debt Daddy winds up on the six o'clock news for assaulting Saint Nick. Nice.
Ladies, Santa Claus says "Ho, Ho, Ho" because that's what he's always said. Unless you show up to see Santa with your kid and the four guys that think they might be the father, he's not talking to you.
Leftover #4 - Sewing the Beads of Love
Speaking of kids and fathers, I came across this guy a while back and wanted to pass his name along to you. Jimmy Moore has been blogging for quite some time - one of his most read blogs is "Livin' La Vida Lo-Carb" (which is just the kind of kitchy title that makes Debt Daddy giggle). Anyway, he and his wife have been trying to have children for quite some time, but have had no luck, and are now turning to IVF (IVF = invitro fertilization, for anyone who doesn't know what the heck I'm babbling about). IVF can get pretty expensive, but have no fear! Believe it or not, Capital One now offers an "infertility loan" to finance the long (hopefully successful) road of making a baby with doctors present. So, whether or not their attempt to procreate is successful, they will still be paying back this loan with interest. Fortunately, Jimmy's wife has a sideline business that they're hoping will help to supplement some of the expenses and get this loan paid down. If you're still looking for Holiday gifts for people on your list, you might want to check out this link - http://livinlavidalocarb.blogspot.com/2007/11/join-in-on-jimmy-christines-beads-of.html - Jimmy's wife Christine makes some very pretty beaded jewelry, and purchasing some of her handiwork would not only make a lovely gift to whomever you're giving it to, but to the people you bought it from as well.
Well, that's about it. Thanks for sharing my leftovers with me - the fridge is looking pretty bare now. All that's left, hidden way back on the top shelf behind the eggs, is the very last Thanksgiving day pie.
One last pie.
It's a pumpkin pie.
And I'm not sharing it. :)
Wednesday, November 28, 2007
Thursday, November 8, 2007
Debt Daddy - Pimp My Interest Rate
Hairshirts Work.
After calling to pester Bank of America two more times after my lovely conversation with Angela Angela (personal friend of Lisa Lisa and the Cult Jam), I finally made it to someone who actually tried to help me (Insert audible gasp here).
Early on in our conversation, I was not expecting much. She was, after all, telling me what all the other "B of A" people I had spoken to were telling me - that my credit report and other various unnamed factors dictate what interest rates I'm allowed to have, and the one I had (17.99%) was the best I could get at this time. However, if I continued to make on time payments for the next 6 months, I might be able to get a better rate.
That's where I finally stopped being nice and got a little testy (balancing on that fine line where you go from asking someone to do something to telling someone to do something and hoping they don't call your bluff). I explained that I had been making on time payments for the last 12 years that I've had this card, so I had already done what they were asking me to do 24 times over! That alone deserved a better rate in my opinion.
Well, she appreciated that, but said she would have to talk to her supervisor and have him call me back. Yes, I flashed back to the mysterious Mr. Misterski too (who has not called me back as of yet - insert look of utter shock here). I said that was fine. I didn't even ask her for her name - I was tired and feeling a bit dejected over the whole process. What did it matter anyway? She'd probably lie about her name like Angela Angela (who lives in New York, New York?), and I truly didn't believe that anyone was going to call me back with anything good to say.
Ah, me of little faith. She called me back herself after only about fifteen minutes to tell me that they were going to reduce my rate to 13.99%. That may not sound like much to some of you, but about 50% of my credit card debt is with B of A right now, so four percentage points lower is just fine with me.
So, after calling this company three times, talking to a total of six people and spending a little under an hour of my time, I saved several thousands of dollars in interest payments. I'd say that was time well spent.
In the midst of these B of A dealings, I also called Citibank, who was charging me 18.99% interest. Suprisingly, I only had to talk to two people there before they bumped my rate down to 10.99%. Oh, and something to keep in mind - most of the rates on credit cards, variable APR mortgages and car loans are tied to the prime rate, which has come down at least 1/2 a point in recent weeks, so in some cases, your rate comes down even if you don't ask for it.
I plugged all these rate reductions (those I negotiated and those from the prime rate reduction) into my Dave Ramsey debt software and ran the debt snowball program again. All told, over the life of my debt, I will have saved $58,129.57 in interest.
And that sure makes a pretty looking diamond on my sword. :)
After calling to pester Bank of America two more times after my lovely conversation with Angela Angela (personal friend of Lisa Lisa and the Cult Jam), I finally made it to someone who actually tried to help me (Insert audible gasp here).
Early on in our conversation, I was not expecting much. She was, after all, telling me what all the other "B of A" people I had spoken to were telling me - that my credit report and other various unnamed factors dictate what interest rates I'm allowed to have, and the one I had (17.99%) was the best I could get at this time. However, if I continued to make on time payments for the next 6 months, I might be able to get a better rate.
That's where I finally stopped being nice and got a little testy (balancing on that fine line where you go from asking someone to do something to telling someone to do something and hoping they don't call your bluff). I explained that I had been making on time payments for the last 12 years that I've had this card, so I had already done what they were asking me to do 24 times over! That alone deserved a better rate in my opinion.
Well, she appreciated that, but said she would have to talk to her supervisor and have him call me back. Yes, I flashed back to the mysterious Mr. Misterski too (who has not called me back as of yet - insert look of utter shock here). I said that was fine. I didn't even ask her for her name - I was tired and feeling a bit dejected over the whole process. What did it matter anyway? She'd probably lie about her name like Angela Angela (who lives in New York, New York?), and I truly didn't believe that anyone was going to call me back with anything good to say.
Ah, me of little faith. She called me back herself after only about fifteen minutes to tell me that they were going to reduce my rate to 13.99%. That may not sound like much to some of you, but about 50% of my credit card debt is with B of A right now, so four percentage points lower is just fine with me.
So, after calling this company three times, talking to a total of six people and spending a little under an hour of my time, I saved several thousands of dollars in interest payments. I'd say that was time well spent.
In the midst of these B of A dealings, I also called Citibank, who was charging me 18.99% interest. Suprisingly, I only had to talk to two people there before they bumped my rate down to 10.99%. Oh, and something to keep in mind - most of the rates on credit cards, variable APR mortgages and car loans are tied to the prime rate, which has come down at least 1/2 a point in recent weeks, so in some cases, your rate comes down even if you don't ask for it.
I plugged all these rate reductions (those I negotiated and those from the prime rate reduction) into my Dave Ramsey debt software and ran the debt snowball program again. All told, over the life of my debt, I will have saved $58,129.57 in interest.
And that sure makes a pretty looking diamond on my sword. :)
Sunday, November 4, 2007
Bank of America - Instant Replay
Last night, I was watching a financial program where they were talking about calling your credit cards and asking for a reduced interest rate. I've tried this many times in the past, and have usually gotten nowhere. But they had four women try, and three out of four of them actually did get their interest rate lowered, so it got my hopes up. Maybe the bank rules had changed a bit. Maybe they were easing up in light of the "hard times" that banks are having right now (brief moment of silence and reflection as I shed a single tear for the plight of the banks...right).
Anyway, I decided to call them. The following was my first call, to Bank of America, which I wrote down immediately after hanging up while it was fresh in my memory. Productive? We'll see. Humorous? I thought so - you be the judge.
My name is Angela - how may I give you excellent service today?
I'd like to get a lower interest rate and I'd like to know what I need to do to make that happen.
Well Sir, I'm looking at your account and this is the best rate we have for your account at this time.
You don't have a lower rate available for my account?
No Sir, this is the best rate for your account at this time.
I assume that other people have lower rates; what do I need to do to get a rate like theirs?
This is the best rate we have for your account at this time.
Yes, for my account - I heard you the first three times you said that. But when you say, "for my account" it leads me to believe that other cardholders may have lower interest rates, so my question to you is, what do I have to do to get their rate?
Just keep paying your bill on time, Sir.
All I have to do is pay my bill on time and I'll get a lower rate?
I can't guarantee that, Sir.
You said this was the best rate for my account; on what criteria do you base that decision?
We don't have access to that information, Sir.
Please transfer me to the department that does have that information.
We're unable to share that information with you, Sir.
Your company won't tell me how they came to the decision regarding my interest rate?
No, Sir.
So there's nothing that anyone can do?
No, Sir.
What if I just paid off this card and cancelled the account; would that be cool with you?
That would be fine, Sir.
Really?
Yes, Sir.
Let me talk to your supervisor, please.
If I can get your name and number, I'll have my supervisor call you back within 24 hours.
Okay, but first I'll need your name - who am I speaking with?
Angela.
Angela, what is your last name?
Angela.
Your name is Angela Angela?
Yes.
What call center are you located in, Angela?
Hunt Valley.
Hunt Valley where?
Hunt Valley, Maryland.
Thank you for not saying Hunt Valley, Hunt Valley Angela, because that just would've been silly. What is your supervisors name?
His....um his name.....it's.....Misss.....his name....Misterski. Mr. Misterski.
And he'll call me back within 24 hours?
Yes, Sir.
Do you think "Mr. Misterski" is gonna call me back? Yeah, I'm not holding my breath either. That's okay - I plan on calling them back on Tuesday. And two days after that. And two days after that, and on and on and on until they get so sick of hearing from me that they do reduce my rate. It's a little maneuver I like to call, "The Human Hairshirt" (hairshirt, from Wiki - a garment made of coarse cloth or animal hair. In more modern religious circles, the word has come to simply mean an object that can be worn to induce some degree of discomfort or pain.) While I'm not trying to cause anyone pain, I've found that some minor discomfort can go a long way toward getting what you want. And, for all the discomfort they've caused all of us over the years, I consider this simply returning the favor. Reciprocity. I love it.
I'll keep you posted.
Anyway, I decided to call them. The following was my first call, to Bank of America, which I wrote down immediately after hanging up while it was fresh in my memory. Productive? We'll see. Humorous? I thought so - you be the judge.
My name is Angela - how may I give you excellent service today?
I'd like to get a lower interest rate and I'd like to know what I need to do to make that happen.
Well Sir, I'm looking at your account and this is the best rate we have for your account at this time.
You don't have a lower rate available for my account?
No Sir, this is the best rate for your account at this time.
I assume that other people have lower rates; what do I need to do to get a rate like theirs?
This is the best rate we have for your account at this time.
Yes, for my account - I heard you the first three times you said that. But when you say, "for my account" it leads me to believe that other cardholders may have lower interest rates, so my question to you is, what do I have to do to get their rate?
Just keep paying your bill on time, Sir.
All I have to do is pay my bill on time and I'll get a lower rate?
I can't guarantee that, Sir.
You said this was the best rate for my account; on what criteria do you base that decision?
We don't have access to that information, Sir.
Please transfer me to the department that does have that information.
We're unable to share that information with you, Sir.
Your company won't tell me how they came to the decision regarding my interest rate?
No, Sir.
So there's nothing that anyone can do?
No, Sir.
What if I just paid off this card and cancelled the account; would that be cool with you?
That would be fine, Sir.
Really?
Yes, Sir.
Let me talk to your supervisor, please.
If I can get your name and number, I'll have my supervisor call you back within 24 hours.
Okay, but first I'll need your name - who am I speaking with?
Angela.
Angela, what is your last name?
Angela.
Your name is Angela Angela?
Yes.
What call center are you located in, Angela?
Hunt Valley.
Hunt Valley where?
Hunt Valley, Maryland.
Thank you for not saying Hunt Valley, Hunt Valley Angela, because that just would've been silly. What is your supervisors name?
His....um his name.....it's.....Misss.....his name....Misterski. Mr. Misterski.
And he'll call me back within 24 hours?
Yes, Sir.
(I gave her my name and number here)
Thank you.Do you think "Mr. Misterski" is gonna call me back? Yeah, I'm not holding my breath either. That's okay - I plan on calling them back on Tuesday. And two days after that. And two days after that, and on and on and on until they get so sick of hearing from me that they do reduce my rate. It's a little maneuver I like to call, "The Human Hairshirt" (hairshirt, from Wiki - a garment made of coarse cloth or animal hair. In more modern religious circles, the word has come to simply mean an object that can be worn to induce some degree of discomfort or pain.) While I'm not trying to cause anyone pain, I've found that some minor discomfort can go a long way toward getting what you want. And, for all the discomfort they've caused all of us over the years, I consider this simply returning the favor. Reciprocity. I love it.
I'll keep you posted.
Friday, November 2, 2007
Debt Daddy's Better Half
So I know you've all been wondering - Is Debt Daddy taken? Could such a prime example of fiscal mismanagement and poor grooming still be on the market? Still looking for his special someone?
Well, sorry to disappoint, but yes Virginia - there is a Debt Mommy, and she's quite the special bit of something, she is. Stunningly beautiful and amazingly intelligent, this wonderful woman gets all my jokes, still loves me despite my myriad foibles, and manages to keep all the Debt Family trains running on time. And while fabulous wife, excellent mother and helluva homemaker were all quite worthy accomplishments, she has just done something that tops them all, putting the veritable cherry on the Debt Mommy Sundae -
She lost her job!
Isn't that Great!!
Uh-oh, Debt Daddy's gone and lost his mind (which we should've realized was already starting to happen when he claimed that the cancelling of HBO's acclaimed hit, "John From Cincinnati" was part of a vast right wing conspiracy). He's finally snapped - doesn't know up from down, good thing from bad thing, great from awful...the poor, pathetic creature.
Yes, I know - I sound crazy, but hear me out (and don't get me started on "John from Cincinnati"). My wife has worked for (names changed, identities protected, yada, yada - you know the drill) Spastic Colon, Inc. for many years and, despite her stellar performance, has never been fully appreciated for the superstar that she is. When Spastic Colon, Inc. announced that they would be moving Debt Mommy's job to outer Fubarstan, Debt Mommy hit the ground running and set a new standard for the term "proactive".
She searched for jobs online at all hours. She interviewed like a mad woman. Like a non-union NYC actor with no survival job and a loft rental to pay for, she did not stop "auditioning" until she got "cast in a new show". And, before you could say "beans and rice, rice and beans", my beautiful, dutiful bride had not only found a new job, but one at more money, with better benefits, and with a company that actually seems to realize and acknowledge what a talent she truly is.
Debt Mommy will be soon be working for Totally Awesome! Enterprises and, while I can't go into specific details, let's just say that the financial benefits, both from the old company and the new, are going to accelerate our debt payoff in a way which simply would not have been possible if things had remained as they were.
Early on in this blog, I had mentioned my search for the metaphorical "debt snowplow" to dig us out of the financial embankment in which we were buried. Who could have known that it would be my wife, Debt Mommy herself, bringing it to me, secured to the top of her minivan, wrapped in a huge red bow (and just in time for my birthday!).
So now, if you will, please join me in a round of applause for the gal who's my pal, the girl who rocks my world, the mom with aplomb, my wife for life - you know her, you love her - and doesn't she just look fabulous on that white horse with the cavalry riding behind her? - Give it up for the one, the only - - Debt Mommy!!
You rock, babe. :)
Well, sorry to disappoint, but yes Virginia - there is a Debt Mommy, and she's quite the special bit of something, she is. Stunningly beautiful and amazingly intelligent, this wonderful woman gets all my jokes, still loves me despite my myriad foibles, and manages to keep all the Debt Family trains running on time. And while fabulous wife, excellent mother and helluva homemaker were all quite worthy accomplishments, she has just done something that tops them all, putting the veritable cherry on the Debt Mommy Sundae -
She lost her job!
Isn't that Great!!
Uh-oh, Debt Daddy's gone and lost his mind (which we should've realized was already starting to happen when he claimed that the cancelling of HBO's acclaimed hit, "John From Cincinnati" was part of a vast right wing conspiracy). He's finally snapped - doesn't know up from down, good thing from bad thing, great from awful...the poor, pathetic creature.
Yes, I know - I sound crazy, but hear me out (and don't get me started on "John from Cincinnati"). My wife has worked for (names changed, identities protected, yada, yada - you know the drill) Spastic Colon, Inc. for many years and, despite her stellar performance, has never been fully appreciated for the superstar that she is. When Spastic Colon, Inc. announced that they would be moving Debt Mommy's job to outer Fubarstan, Debt Mommy hit the ground running and set a new standard for the term "proactive".
She searched for jobs online at all hours. She interviewed like a mad woman. Like a non-union NYC actor with no survival job and a loft rental to pay for, she did not stop "auditioning" until she got "cast in a new show". And, before you could say "beans and rice, rice and beans", my beautiful, dutiful bride had not only found a new job, but one at more money, with better benefits, and with a company that actually seems to realize and acknowledge what a talent she truly is.
Debt Mommy will be soon be working for Totally Awesome! Enterprises and, while I can't go into specific details, let's just say that the financial benefits, both from the old company and the new, are going to accelerate our debt payoff in a way which simply would not have been possible if things had remained as they were.
Early on in this blog, I had mentioned my search for the metaphorical "debt snowplow" to dig us out of the financial embankment in which we were buried. Who could have known that it would be my wife, Debt Mommy herself, bringing it to me, secured to the top of her minivan, wrapped in a huge red bow (and just in time for my birthday!).
So now, if you will, please join me in a round of applause for the gal who's my pal, the girl who rocks my world, the mom with aplomb, my wife for life - you know her, you love her - and doesn't she just look fabulous on that white horse with the cavalry riding behind her? - Give it up for the one, the only - - Debt Mommy!!
You rock, babe. :)
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