Must RANT!!!!!
Elite HDF Member
Joined: Apr 2007
Posts: 4,984
Likes: 8
RE: Must RANT!!!!!
Lewd Dude
I agree we finance many things for the same reason you do. why use my money if home depot is going to give me 6 months zero interest of i can finance acar for 2 percent less than a CD will pay. We dont even keep our mad or emergency money in normal savings accounts they are locked in CDs.
Now for a question, your payment is made the day the envelope is post marked. I would ask if they recieved the payment yet and the date on the envelope. I do agree if you have a problem with them pay it off or set up and auto pay. good luck.
I agree we finance many things for the same reason you do. why use my money if home depot is going to give me 6 months zero interest of i can finance acar for 2 percent less than a CD will pay. We dont even keep our mad or emergency money in normal savings accounts they are locked in CDs.
Now for a question, your payment is made the day the envelope is post marked. I would ask if they recieved the payment yet and the date on the envelope. I do agree if you have a problem with them pay it off or set up and auto pay. good luck.
Road Warrior
Joined: Oct 2006
Posts: 1,830
Likes: 8
From: Retired and living in the mountains of NE PA
RE: Must RANT!!!!!
I'm on my second bike loan with Harley-Davidson/Eaglemark and have never received anything but trouble-free service from them and great rates to boot. I opted to use their DirectPay option (automatic deduction) both times. It works flawlessly and is worry-free. Regarding the fees for one-time online or phone payments, it states quite clearly and up front what those charges are on each and every monthly statement.
Road Warrior
Joined: Sep 2007
Posts: 1,314
Likes: 5
RE: Must RANT!!!!!
Sorry dude, but the postmark has nothing to do with when a payment is considered as being made. The payment is considered made when the mailroom or accounts receiveable clerk either stamps the payment as received, or posts it to the account. Not only do you have to allow for mail delay, but some places can even have a day of delay after the payment is in the office, but before it has been processed.
Road Captain
Joined: Apr 2007
Posts: 600
Likes: 16
From: Arizona
RE: Must RANT!!!!!
No wonder this economy is in such a mess. Check by mail, phone payments, auto-withdrawls... hasn't anyone except me just paid the damn bill through online bill pay as soon as the statement comes in the mail? Posts within three days, no auto withdrawls, no bs, can check online if the payment was received. I haven't written/mailed a check to pay a bill since 1998 and have never once had a problemusing online bill pay.
Seasoned HDF Member
Joined: Jan 2007
Posts: 20,616
Likes: 4,440
From: anacoco, la
RE: Must RANT!!!!!
so let me get this straight, your first payment was 'lost in the mail' ie hd never got it. and you're mad at them because of it? you do know that there is a 20 day grace period after the payment due date that they do not consider it 'late'?
i have enough time that if my check does not clear the bank in a reasonable amount of time, that i could send them another and it would still get there in time. if you don't want to pay the stop payment fee, then don't. it sounds like you have enough in your stash account that if the check were to suddenly reappear, then you would just be one payment ahead. (and really, is 6.00 really all that to get pissed off over? its not like you would be paying it every month negating your apr savings?)
i have enough time that if my check does not clear the bank in a reasonable amount of time, that i could send them another and it would still get there in time. if you don't want to pay the stop payment fee, then don't. it sounds like you have enough in your stash account that if the check were to suddenly reappear, then you would just be one payment ahead. (and really, is 6.00 really all that to get pissed off over? its not like you would be paying it every month negating your apr savings?)
Road Warrior
Joined: Sep 2007
Posts: 1,314
Likes: 5
RE: Must RANT!!!!!
Time2ride...Have you ever talked to your bank to find out how payments are actually made after you go online to them and do an "online payment"? I have with my credit union, and according to them they, and most banks that handle "online" bill paying, once they receive your online transaction, then they cut a check, and guess what...drop it in the mail. That's the biggest reason I don't pay bills online, you have to have the money in your account at the time you do the online transaction, but you still have a mail delay to the company you are making the payment to. The bank has the use of your money for those few days, which is part of the reason they can offer it as a free service.
Skratch....the 10 or 20 day grace period you might get for not reporting a late payment usually only relates to being reported to credit reporting agencies as a documented late payment. 1 day late is enough to void your agreement on a loan regarding a special interest rate. If you are 1 day late on a credit card payment that offered you zero percent interest for a year guess what, you just lost you zero percent and your rate will go up to whatever it says in the itty bitty small print on the credit card agreement.
Skratch....the 10 or 20 day grace period you might get for not reporting a late payment usually only relates to being reported to credit reporting agencies as a documented late payment. 1 day late is enough to void your agreement on a loan regarding a special interest rate. If you are 1 day late on a credit card payment that offered you zero percent interest for a year guess what, you just lost you zero percent and your rate will go up to whatever it says in the itty bitty small print on the credit card agreement.
Outstanding HDF Member
Joined: Jul 2007
Posts: 2,068
Likes: 0
From: North East
RE: Must RANT!!!!!
ORIGINAL: electaRICK
thats how banks survive?? give you more $ for saving... loan $ for practically nothing,,
makes sense to me,,,,,,,
put everything on your credit cards... pay even more intrest,,,,,, thus make MORE $$$$$ by saving !!
perfect sense!!! thanks L dude!
thats how banks survive?? give you more $ for saving... loan $ for practically nothing,,
makes sense to me,,,,,,,
put everything on your credit cards... pay even more intrest,,,,,, thus make MORE $$$$$ by saving !!
perfect sense!!! thanks L dude!
Road Master
Joined: Sep 2007
Posts: 818
Likes: 1
From: S/W Ohio
RE: Must RANT!!!!!
OH MY GAWD! [sm=yikesomg.gif]
Now we have Bankers on Harleys!
When did they give up their BMWs???
Why wasn't I told about this?
Oh, the humanity...............
Ride well,
Jim
Now we have Bankers on Harleys!
When did they give up their BMWs???
Why wasn't I told about this?
Oh, the humanity...............
Ride well,
Jim
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Tourer
Joined: Sep 2007
Posts: 355
Likes: 0
From:
RE: Must RANT!!!!!
Man, You folks need to hide your blood dripping fangs or we're going to have to play the tittie song again. Come on Spring!
My old man always told me if I couldn't pay cash then I couldn't afford it. I did that all thru my single years. Never financed a dime. When my first wife and I went to buy a house, they said sorry, you have no credit history.
So I started getting small loans, made a few payments, then paid them off. I ought to have great credit. Nope, not enough long term history for a large loan.
Paid 50% cash for my house, financed the other 50%. I was able to get a loan with that amount down, a good interest rate, and build credit history. I have a Visa I pay off "almost" every month. Now my credit history is there and I can buy way too much if I desire.
Long story short, if you go around paying cash for "everything" then your screwed when you need to borrow money. Next lesson, Lewd Dude is correct, on many loans (not all)your better off using their money and keeping yours where yeilds the best return.
Oh, almost forgot. My finance company sold to another group and then payments were taking weeks to post. They called me once asking where my payment was. It was mailed way before the due date. Anyways. I gave them a check number and did an electronic check.
So, we started spending the extra $1 or $2 and get signed delivery notification. The next time they called, I sent them the delivery notice and told them if they can't enter the payment into the system on time it wasn't my problem. They pretty much left me alone after that.
My old man always told me if I couldn't pay cash then I couldn't afford it. I did that all thru my single years. Never financed a dime. When my first wife and I went to buy a house, they said sorry, you have no credit history.
So I started getting small loans, made a few payments, then paid them off. I ought to have great credit. Nope, not enough long term history for a large loan.
Paid 50% cash for my house, financed the other 50%. I was able to get a loan with that amount down, a good interest rate, and build credit history. I have a Visa I pay off "almost" every month. Now my credit history is there and I can buy way too much if I desire.
Long story short, if you go around paying cash for "everything" then your screwed when you need to borrow money. Next lesson, Lewd Dude is correct, on many loans (not all)your better off using their money and keeping yours where yeilds the best return.
Oh, almost forgot. My finance company sold to another group and then payments were taking weeks to post. They called me once asking where my payment was. It was mailed way before the due date. Anyways. I gave them a check number and did an electronic check.
So, we started spending the extra $1 or $2 and get signed delivery notification. The next time they called, I sent them the delivery notice and told them if they can't enter the payment into the system on time it wasn't my problem. They pretty much left me alone after that.