One Penny -- how far can you go? - Page 3
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  1. #31
    Registered User Preston's Avatar
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    Income: 2158.52
    EF: $200
    Amex (last month): 225.11
    Amexcurrent month) 715.71 - Can now close acct.
    Shell MC: $920
    Boa: 12.67
    Student Loan: $85.03

    All funds spent.

    Next Paycheck: Budget $1650
    Mortgage: 700
    Boa: 35
    Elec: 75
    Timeshare:$244.68

    Extra: $595 Apply toward debt

  2. #32
    Registered User NikoSan999's Avatar
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    Wouldn't the "Extra: $595 Apply toward debt pay off US Bank Visa: $4395/$4950?"
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

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  3. #33
    Registered User Preston's Avatar
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    Quote Originally Posted by NikoSan999 View Post
    Wouldn't the "Extra: $595 Apply toward debt pay off US Bank Visa: $4395/$4950?"
    My wife had oral surgery ($3000 roughly) Which I chopped between a few different CC's and what I was able to save for it (I knew it was coming but I am trying not to touch the EF for it) so the $595 will most likely go toward that but I am also waiting for the insurance check to come in, which would give me more money and the $595 would then be applied to snowball. Snowball on hold right now and I should really update my sig file.

    I do rough estimates until the actual payday, since we are paid by the hour and all. This is the toughest stretch for me.

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  5. #34
    Registered User monkeywrangler71's Avatar
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    Quote Originally Posted by Incognito View Post
    I'm not sure of the details, but every country has its own government regulation regarding business practises and banking.
    All I can say is, in Canada I personally have had no problems with pre-authorized billing, and questions/problems have always been fairly and quickly dealt with by the service reps.

    One thing I'm still wondering about, don't your US banks charge your account for preparing your monthly statement and sending it out to you, or are you picking it up in person at the bank?

    Because in my financial institution, unless you have specificially stated that you will pick up your statement, they send it in the mail, and then charge the stamp and handling fees to your account every month. In that case, you cannot have only 1 cent in your account, because it would be overdrawn simply by the statement fee. (hence my first reply to this thread)
    Preauthorized payments are basically the same as giving the company an infinite number of post-dated cheques. If there is an error in the details the bank can fix it (eventually), but if you cancel the service and the company continues taking their money out it is not the bank's fault. You will need to put a stop payment request on every month, or close your account. Major utility companies are not typically a problem, mobility & cable companies are. Basically, any company that habitually makes it difficult to end their service. Personally, I don't let anybody automatically debit my account except the bank. I saw too many people have to close their accounts because of it.

    I don't know what bank you're with, but I've never heard of waiving statement fees for picking them up. The cost of sending your statement back to the branch, filing it, storing it, and digging it out to give to you when you come in would be much more expensive than having the processing centre mail it out to you. In fact, I believe our bank charges extra for this service. The savings for the bank occurs when you opt for electronic statements, because then they don't have to pay a processing company to produce them at all. That's why banks offer free online services and free electronic statements.

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