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Web Secrets Revealed Will Change Your Finances
Does your credit card give you freedom?
Debt Freedom
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The first action I took, involved getting in contact with the loan officer. He never called me back, so I demanded to speak to anyone that worked for the company. I was able to speak to a loan officer and I explained my situation to him, but he of course played the blame game.
One woman that I had spoken to, was empathetic towards my situation, but everyone else wasn't. The woman that worked for the company said "I couldn't believe he wouldn't tell you about the interest rate".
She was very compassionate, but at the same time I was pissed off. I explained to her that I had the loan out for about four to five months, and I asked her what should I do?
She insisted that I use one of my credit cards to balance transfer the remaining amount of money that I owed to their account. I tried doing that, but it was difficult. I bet your thinking, how can something as simple as that be so difficult?
Nothing Seems To Go Your Way
Well, it was. Have you ever noticed that when you get into a bad situation, nothing ever seems to go your way. In fact, it even seems the harder you try, the worse and worse the situation gets. I never did do the balance transfer.
Instead, I took out a cash advance. I called my bank (whom is U.S. Bank) and I explained my situation to a woman over the phone and she eventually said she could help me. However; my interest rate would change to 21% percent.
That sounded great compared to the 96% percent interest rate. So I excepted the agreement and the money was wired into my checking account. I then faxed the loan company and told them to wire the money out of my checking account.
The money was wired out of the same checking account that they used to wire their money in. Before they took any money out of my account, I demanded them to fax documentation over to my bank, stating the exact amount that was due. The papers came and then they got their money.
I was approved for a loan for the amount of $2,600 and I only spent $800 dollars and the rest I kept in my checking account. I ended up waisting $1,600 from my own pocket, because of their high interest and the daily fee from the loan. Right after they got their money I changed my account number and my recite came in the mail about a week later.
Don't Ignore Your First Thought
Now I could play the blame game and continue to blame the company and the loan officer for everything, or I could own some responsibility for this myself. What made me take out the loan in the first place ?
My wants got in the way, but by grace I was able to discover the problem ahead of time. Could you have just imagined what kind of debt I would have been in, if I would have ignored my first thought to research the company!
I didn't care about the cash advance that I had taken out on my credit card. I knew that 21% percent was still high, but it sounded a whole lot better than the previous rate.
I was very fortunate to be able to spot the problem early and try to do something about it. Billions of people get scammed all the time, because they trust what someone else says and they don't read the fine print. Don't make the mistake I made.
We can read all day about how to stay out of debt? How to protect our credit cards? However; nothing can compare to using common sense. Common Sense would tell anyone that taking out a loan, whether you need the money or not is risky.
I don't want you to get the impression, that you shouldn't read about how to protect your credit and etc. I just wanted you to know, that debt effects the rich and the poor, and targets the individuals with the most needs and wants. If you have a story that you would like to share, please leave me a comment.
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