So. Back in 2002, I had my bank in PEI refinance-whatever my two student loans (federal and provincial) to a lower interest rate. Back when my car was stolen, my VISA was in it, so I cancelled that VISA and they sent me another one. There’s your history.
The thing I was hoping for good vibes on:
Rob and I have never been rich but we have been able to live pretty well with both our salaries. Bills paid, food bought, rent paid, with $25 here and there to put into my RSP. However, because I’m sick and not working (and no, I can not go back to work right now, I’ve agonized about that), and my last paid sick day was on Jan. 26th, I’m no longer receiving any money. I do have salary continuation insurance but the earliest that will start to pay out (because they are a business, and their business is making money, not really helping people who are sick) is the beginning of March– and possibly not even then, depending on how long it takes them to do the paperwork. Rob’s pay is all well and good, but since he lost those three days due to the snowstorms last month, his last paycheque was at least $300 short of what it usually is. We’ve paid the rent for this month, have $20 left in the bank, and have bills coming in which we have no way of paying at the moment. When my insurance kicks in (anytime between the beginning and end of March), we’ll have plenty of cash, I guess– well, we’ll have 70% of my salary beginning on Feb. 15th– but until then? We have one more cheque of Rob’s coming in next week which will not cover our my bills (my student loan, lights, power, scheduled payments on various other things), so our payments will bounce, resulting in $50 NSF charges etc. etc. etc. Please don’t start pitying me or anything, I’m not in a “poor poor pitiful us” mode or anything like that, I’m more angry. You’ll read why in a minute.
So, on Tuesday, I went to apply for a loan. Not at my bank, because for some reason I thought I shouldn’t (don’t ask me why and it really doesn’t matter right now), but at Wells Fargo Financial. I figured if I could get a loan right away, we could cover those bills, not have it show up on any sort of “hey these people make their payments late” list, and we’d be able to pay back the loan within a month (or two at the outside) and above all not have payments bounce which would result in possibly hundreds of dollars worth of NSF fees. When I was in there, the guy and I went over everything, we looked at the credit report he was getting on his computer, and he was telling me everything on there, and I was like “yes, I have a visa. Yes I have a sears card. Yes I have 2 student loans, one federal, one provincial”. You know. Like you do. He told me he could see absolutely no problem with me getting this loan. I left, still worrying, because that’s what I do.
Didn’t hear from the guy yesterday (he’d said I’d hear from him yesterday or today) so this morning I called. He wasn’t in the office yet but he did call just now.
Oh, guess what? My credit report is showing that I have TWO visas, and FOUR student loans. And that one of my visas (the one I cancelled 2 years ago? And had the balance transferred to my new visa?) and two of my student loans (the ones I had refinanced? And the balance went to my “new” student loans?) are DEFAULTING. Like, I haven’t paid them in three years.
THEY DON’T EVEN EXIST!!!!
So basically what I can do right now is go to the credit bureau people — which luckily enough the credit bureau for the Maritimes is in Halifax– ask for a copy of my credit report, and tell them that hey, those two things? They’re a mistake. They’ll change it, but it will take SIX MONTHS for that change to show up on my credit rating.
SIX MONTHS.
Yes, and this is helpful how?
Rob, right now, is inventorying our groceries. I’m trying to figure out how long we can drive around on the 1/4 tank of gas that’s left. We’re basically fucked, and I’m very upset, because even though it’s not my fault because I can’t help being sick I still feel guilty.
Okay, that’s that for now. Thank you for reading the whining. Whee!
HERE IS A SONG! RIGHT CLICK AND SAVE AS! IT IS AN ANGRY SONG! SO LISTEN UP!
That sux. I hate credit reporting agencies. They’re quick to report the negative and take their sweet time to report the positive. Been there.
Aww, Louise. I know you say you don’t want pity (and I believe you) but I can’t help but feel bad for you! Anything I can do to help?
SEND CHOCOLATE
Oh, wow. That all just, sucks.
you probably already know this, but most places (bell etc) will be more than understanding if you just call them and explain the situation. as long as you have told them up front they don’t report to a credit agency that you were late, and they hold the automatic payment so that you don’t have to pay an NSF fee. you can in fact even do that with your mortgage (if you have one).
Hello. You don’t know me. But I have to agree with mainja. I don’t know that the US can be that different to things over here in Blighty, but you absolutely MUST phone the people who’ve sent you the bills and explain why you’re about to have difficulty paying them. They should be cool about it – especially as you say that there’s money on the way – and, yep, they therefore shouldn’t report yo ass to any credit agencies. (There is a word for credit agencies. A rude word, beginning with c.)
Ak! That is awful. I should really request my credit report too- I bet there are things that are wrong…
Could your parents let you borrow a little money?
Oh no, I’m so sorry! That’s tough. We’re going through something similar (although not as extreme) because we bought our house based on both of our salaries when I had a well-paying job and could still work full-time. Now that I physically can’t work full-time, we’re in a constant struggle to keep from going under.
Best of luck! I wish I had some helpful suggestions, but my thoughts are with you.
Hey Louise. Sorry I haven’t kept up with reading your blog lately. I haven’t kept up on much. I’m sorry to hear you’re having such a hard time. Finances suck ass – even when you have money coming in, it never seems to be enough!! Urgh! I hope things work out for you soon!!
{{{{Louise}}}}