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Personal Finances / Credit Cards and Consumer Debt
|Subject: Venting Time ( I apologize in advance)||Date: 3/24/1998 1:30 PM|
|Author: Mike7279||Number: 935 of 310619|
Time to vent ... (with hopefully some lessons mixed in)
I recently ordered my credit report from Equifax and Trans Union (Experian won't let you order on the Internet). It was very interesting. First, a number of my dad's loans are listed on my credit report, including his mortgage. (It is a wonder anyone lent me anything based on these two sizable mortgages.) Those mistakes are somewhat understandable because I'm a Jr. and he is a Sr. It is just going to be a pain to clean it up, but I can deal with it.
I WAS surprised to see that none of my creditors (except one who I'll get to later) reported me as paying late. Yes, I admit it. During my college days, my first few years of work, and even today, my wife or I occasionally forget to send a payment in on time for one stupid reason or another. It is quite embarrassing and frustrating to get a call or a letter from a credit card company saying "We haven't received your ...." Well, we've all got them. We check our checkbooks and budgets, maybe look around and behind the desk to find the darn bill and whisk it off that day. No big deal, many times you don't even get charged a late fee and if you do okay its my fault I'll pay the fee. So again, I was pleasantly surprised to see a pristine credit report from Equifax and a clean slate from Trans Union, except for ONE little blemish.
>IN PRIOR 30 MONTHS FROM LAST UPDATE 6 TIMES 30 DAYS LATE<
What, I've NEVER been 30 days late on a bill in my life. WHO had the audacity to say that I was 30 days late - was it American Express (I've heard they are sticklers) - nope. Perhaps, the old Bank because of that one car payment that fell behind the desk - nope not them either. Well, it has to be one of those cards I had in college - nope, nope, nope. Who then? UI-OSAC, that's who. Who the hell is that? Well, it turns out that it is the good old State U. Yep, that same alma matter that hits me up every month for contributions to benefit the old girl. The same place that calls me every year for the annual phonathon, the same place whose Dean of the Law School regularly invites me to business luncheons. The same place I religiously donated money to. The same place I designated (note past tense) as contingent beneficiary of my IRAs, the same place who would have received 1/4 of my estate under my trust if my family passed away, yes the same place whom I convinced my wife that we needed to contribute more money to because we now are beginning to have excess resources. The same place I've recommended to my clients who are looking for charities to donate money to (I'm an estate planning attorney).
You see, I had these two $1000 loans. The monthly payment i