Confessions of a Laid-off Lawyer

Just Your Average Joe Blogging Away His Debt—In One Year or Less

Debtor’s Revolt

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Total Black: $66.62
Total Red: $230,649.18

Dealbreaker, a self-dubbed Wall Street tabloid, posted an article today titled “Bank of America Making Great Strides in Customer Satisfaction.”  It included a YouTube vlog by Ann Minch wherein she took Bank of America to task for its “usury and plunder.”  Minch claimed that Bank of America “jacked” her interest rate up to thirty percent despite having good credit and being under the limit.  In her vlog, Minch calls for a debtor’s revolt.  I’m all for it.  In What is This, Sarcasm? and On and On and On, I expressed my own frustration at Bank of America’s voodoo accounting practices.  The practices of personal banking and credit lenders have really gotten out of control.  Minch’s vlog and a comment posting a link to a newspaper article both show glimmers of hope that the banks are getting the message.

Personal finances today got me feeling a bit one-step-forward/two-steps-back.  Especially since so much of my paycheck was taken by bank fees.  It’s lead to me being out of money . . . again.  And the cats are out of food too.  Unfortunately, pay won’t come through again until Friday morning.  I’ll be taking my coins to TD Bank to get them counted for free.  Part of the problem is that I didn’t earn a lot last week.  And I lost 1/3 of it in insufficient funds fees.  I haven’t yet called Bank of America to see if I can get any of them reversed.  If so, that’s thirty-five dollars back in my account and means I can pick up my dry cleaning and buy cat food.  But mostly my difficulty, as I mentioned in Feelings and Finances, is managing cash flow.  That’s what happened again this week.  Without knowing it, I spent most of my money on lunch and dinner meals over the past week.  And I forgot how quickly it adds up to buy meals when you’re working, especially when each meal runs upwards of about $10 a piece, i.e., approximately $20 a day, so about $140 a week.  Once I get paid on Friday, I’ll need to find time to get to a supermarket to buy groceries.  I’ll have to leave work during the day or find a twenty-four hour store.

Being back in the same boat so quickly has got me feeling down.  My debt has gone up and my income, despite having a pretty well-paying job, hasn’t increased either.  Debtors are calling multiple times a day.  Thankfully, I’m out the door before 8am now so I don’t hear them any longer.  But, I do come home to their answering machine messages.  They’ve started leaving them—and a few were actually by human beings not computer voices.   That’s always a bad sign.  But I get that I’m just being impatient.  I should be getting about $1,400 on Friday.  Hopefully next Friday I’ll have upwards of $2,500 for that week.  Realistically though I might have to use much of the next two paychecks to cover rent.  September’s rent hasn’t been paid yet and October’s is due on the 1st of the month.  Getting paid the $1,500 by the colleague I spent all of August working for would make a huge difference.  It’s also taken every ounce of self-discipline to not call my mother and ask for a loan.

Tomorrow is only a day away.  (I just have to say that for the next two.)

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