Did Not Get The Re-Finance Loan

I called the credit union this morning and they did not approve my loan for the refinance.  It had nothing to do with my credit, or so they said. It was due to the fact that according to their calcualtions and payoff figures, my car is worth less than the loan.  Like way less according to the Credit Union. According to my on line research, it's worth a bit less than what I currently owe, but not as much as the CU said. Since I have an insane interest rate of course I owe "more". They did say that if the loan had originated with them, they do refinance car loans for customers in good standing. My loan did not orginate from the CU. The CU said they mailed me a rejection letter, which I'll probably get in the mail today or tomorrow. I'll read it, make sure it says what they told me on the phone and then shread the letter.

Ah well, I'm not going to argue with them, I gave it a shot, that's all I could do.  I guess I'll just motivated myself to snowflake extra money towards paying off the car.

Car Refinancing And Looking at My Budget

This is actually a multi part post, this post has generated my next couple posts that have been swirling around in my brain.

I filled out the application for the car refinance to take to the credit union tomorrow. I also had to take a look at my income and boy did I surprise myself! I work about 7.5 weekend out of every 8. My income should break down like this.

Paycheck 1 from "Full Time Job": Cell phone, land line, 1/4 groceries, 1/2 gas for the month, car insurance, health insurance co-pay and have some extra for misc (savings, utilities).

Paycheck 2 from "Full Time Job": Should cover mortage payment, student loan, 1/4 groceries, 1/2 gas and most remaining utilities with some extra.

Paycheck 1 from Part Time Job: Should cover my car note with room to spare (and in the future it will be snowflaked toward the principal.)

Paycheck 2 from PT Job: Should cover taxes and remaining 1/2 food.My part time job does not deduct taxes, so I need to plan for tax time next year.

Paycheck 3 from PT Job: Should be straight savings/Efund.

Paycheck 4 form PT Job: Fun $$, hobby expense and putting cash towards animal care (food, vet, etc) with some leftover.

The leftovers from Full Time Job should (and have in the past) paid for my car note, but I specifically took my current weekend job with the above plan in mind.

This has not happened. And I'll explain in my post tomorrow. I sort of had this figured out in my head, but did not follow through with it for a couple reasons. I had some unexpected household bills (greater utilities costs due to our frigid January, I kept my heat on higher than I normally would have when I was away each weekend), putting money towards my trip in March, not getting paid while on my trip (I lost 2 weekends of work), replacing parts of my wardrobe that sadly needed to be replaced, routine car maintenance, and my three month experiment of money and friends.

My experiment was expensive, but it was an experiment I needed to conduct and I'll share with you the outcome and some decisions I've made with my life based on this experiment. What I can tell you was it was a large eye opener for me, a large expensive eye opener for me, but I am very glad I did this experiment and grateful for the outcome.

Hope you all had a great Holiday weekend!

Step One-Get the application

I stopped at my credit union on my way home yesterday and picked up a car refinance loan application.  I'll sit down this weekend and fill it out. I figure I have NOTHING to loose (maybe a couple points on my credit score) and drop it off at the credit union one day next week.  I'm not looking for the rock bottom interest rate, I'm just looking for a better rate than I currently have.  

I'll let you know what happens. 

The Letter I Sent Out Today at Lunch~Need I Say More?

Dear X Bank

I am writing to follow up on my phone request to be taken off your marketing call list. I recently purchased a car and X Bank is the lender. I have received between April 3, 2008 and April 15, 2008 twenty six phone calls on my caller ID and not one phone message. Six of which were on my Caller ID on April 15th alone. This is after I had asked twice to have my phone number removed from the call list.

The first time the young lady said she needed to verify my information, but proceeded to try and give me a marketing speech. When I asked what information she needed verified, she asked if I had a pen and paper handy to jot down some information. I told her I already had a letter from X Bank outlining the terms and conditions of my loan and again what information she wanted verified. She never told me what information she wanted verified. I then told her to please remove me from the call list and that X Bank was welcome to mail me any information about their products and services. The young lady who called last week wanted to know if there was an alternative phone number that I could be called at. I told her no, no phone calls period, home or work. I had this same phone conversation three times, the most recent this evening when I received a phone call from someone named Marjorie. Marjorie even started the conversation by saying I see in our records you have refused phone calls.

I did not refuse phone calls, I asked to be taken off the marketing list, especially since no one was able to tell me what information they wanted verified, not even the manager I spoke with this evening, Alan M....... In fact, Mr. M....... told me that it is policy to ignore the first request to be put on a no call list. I believe that is illegal and against both state and federal law to ignore the request to be taken off of a call list if a customer so wishes. Mr. M....... supposedly assured me that after this evening, I would not be bothered again.

Not once in the 23 times that I did not answer the phone did X Bank leave a message informing me that they needed any information verified, not once. If it was so important that information needed to be verified, then XBank should have been able to leave me a message at least once.

I am sending a copy of this letter to my States Attorney General's Office.

The call list (all numbers start with xxx-xxx)
April 15th 7:48 PM 3508
5:24 PM 4033
4:26 PM 5011
2:54 PM 3533
1:24 PM 3508
10:51 AM 5011

April 14th 1:48 PM 3508
12:23 PM 3533

April 12th 3:24 PM 4003
9:29AM 5011

April 11th 7:56 PM 3533
1:49 PM 3508

April 10th 8:42 AM 5011
1:42 PM 5011

April 9th 12:22 PM 3508
8:38 AM 4003

April 8th 6:14 PM: 4003
1:43 PM 3508

April 7th 8:28 AM 3508

April 6th 11:28 AM 5011

April 5th 4:40 PM 4003

April 4th 9:28 AM 4003

April 3rd 4:55 PM 4003
1:13 PM 4003
9:07 AM 5011

They Still Keep Calling.......

My phone rang again last night and this time instead of just picking it up, I looked at the caller ID. Which was good, it was the car loan folks, I jotted down their number and posted it by the phone (yes at times I have NO life) probably wanting to waste my time again selling me a product I have no interest in. Since they did not leave a message, I can only guess it's a marketing call and not to "verify my information" as they keep saying.

I'm just wondering what part of please-don't-call-me,-just-mail-me they don't understand.