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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (25443)	1/27/2005 9:03:08 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

Personally, I find letting the credit card company or utility company withdraw their payment directly from my checking account entirely satisfactory. All of the companies I deal with deduct the payment on the very last day, or even several days after the due date, and always credit the payment as on time. As an example Bank One, soon to be JP Morgan Chase, credits the payment on the date due, immediately reducing my balance, but doesn't increase my available balance until their withdrawal actually clears my bank a few days later. Very reasonable. If they fail to deduct the payment one month, as SBC telephone did once, it is their fault and their problem to solve. One phone call from me, when I received the new bill showing the previous month's amount being past due, unleashed the hounds of hell within SBC. I even suggested they charge themselves a hefty late fee. Credit card companies will routinely deduct either the "full monthly balance" or the "minimum monthly payment" - your choice. I have them deduct the full balance, but if my cash flow was irregular, I could sign up for them to deduct the minimum payment and make supplemental payments myself depending on that month's circumstances. Since the minimum payment would still be up to them to facilitate on a timely basis, it wouldn't matter when my payments are made or credited. I highly recommend this. The only bill I don't pay this way is the annual payments to Farmers Insurance. To sign up for auto-deduct with Farmers, they insist you change your insurance billings to a Monthly basis and they charge an additional fee for this. At some point this may induce me to switch to another insurance company if they don't fall into step with modern times. Let *them* worry about being paid ontime, so *you* can better focus on putting money *into* your checking account. If nothing else, it make a long holiday worry free. .

To: Crimson Ghost who wrote (25443)	1/28/2005 12:24:19 AM
From: ild	Read Replies (3) \| Respond to of 110194

<<< woes for the financially strapped and people living paycheck to paycheck>>> Then how come that most financial companies have been reporting improving credit quality of consumers. Interesting that personal bankruptcy filings fell just 3.5% yr/yr from 2003. This compares to 5.2% and 14% yr/yr increases in 2003 and 2002, respectively.