I read the news articles
today about the bank run on IndyMac out in California. A
few other banks have failed this year as well. Of
course, I do not have more than $100,000 in my bank
account so I do not have much to worry about bank
failures and banks being taken over by the Feds as
anything under $100,000 is insured by the F.D.I.C. (up
to $200,000 for married couples). Of course, I do have a
small claims court judgment against me for about $12,000
that is worrying me a great deal. I am just waiting for
the day when I check my bank account online and find out
that the creditor has electronically withdrawn every
penny from my account, and I have checks bouncing left
and right. Plus, I have a brokerage account that might
have the same thing happen in order to settle that debt.
For this reason, I am looking at my options for handling
my bills without using a bank.
I am not talking about
paying the small claims court judgment which is for past
due condo association dues. I am talking about the bills
that I intend to pay like my utility bills and my credit
card bills and my car payments and my rent checks - my
daily living expenses - the important things, not past
due condo association payments.
I am really worried that the condo association will take
money out of my account; and if I put more money in my
account, they will take that money out too until they
have their judgment paid in full. Meanwhile, I keep
getting hit by insufficient funds fees by the bank and
returned check fees. I have to find some way to avoid
this.
I cannot start paying
cash for everything. Keeping a ton of cash at home is
impractical. Plus, I cannot send cash payments through
the mail. No one accepts those these days or at least
they discourage them these days. I am going to start
exploring my options. There must be some way other than
just living on cash. Let me know if you have ideas.
Email me (Noah@ShortOnChange.com)
or post a comment on the blog page. Thanks.
| Comment from G.Mack 07/18/08 |
| Noah, obviously you aren't
aware of "pre-paid credit cards". You can buy
them from any CVS or grocery store. Or you can
get some really good deals online. Plunk some of
your spending cash on those babies, and voila
you have the means to pay your bills, buy gas,
etc. Also you can do what most po folks do, go
to the local ACE cash store which usually also
has a "utility bill" option. YOu can pay cash to
pay all of your utility bills through them. Also
some CVS pharmacies or other neighborhood stores
have this bill paying option as well. Now you
have to pay a small transaction fee for some,
but your bill gets paid. Or go to your local
Post office and buy Postal money orders and
snail mail your payments in that way. Just some
suggestions from a single mom, who's had to
struggle to make ends meet. Hope it helps. |
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