Category — finance

This is in regards to this post:
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=953931

A quick cliff-note of the updates since:
-Other driver decided to settle using insurance
-Filed a claim with insurance
-No payment received; always "pending approval"
-They also say that they would not pay for the entire amount due to "pre-existing" conditions
-I informed other driver that I was planning to file Small Claims suit
-Filed Small Claims suit for $2,500 which not only included the original damages but all my time off work to insurance adjusters, repair shops, and expenses attributed to such trips. (My work place is 130 miles away from any major metropolitan area)

I have assembled 3 copies of all the evidence/paperwork that I'll be presenting tomorrow. One for myself, the defendant, and the judge. I have never been to a Small Claims court before and the only thing I currently know is to dress properly and follow whatever I'm instructed. Any tips or info from others who has gone to a Small Claims would be greatly appreciated. Thanks.

Link

I thought CK is based upon the TU report.
Had an inquiry yesterday and this morning I got an email notification from TU about it.
(I got free monitoring from TU because of a class-action lawsuit. This monitoring does not include a score.)

Now I just went to CK to update my score there. No change. CK does not show the new inquiry yet.

CK claims/ pretends (?) to pull information once per day if so desired. But it seems that they do not really get the data right away.
I will go back to CK tomorrow if they have the new inquiry then..

Thought I share this data point about CK, I did not see this discussed prior.

-Peter

My wife and I recently were awarded a large lump sum payment. I'm not going to go into what happened but I can tell you that the award is in the 8 figures. I was thinking of taking a good chunk of the funds and investing it in real estate. I was thinking of purchasing a couple 4-6 unit apartments close to a large university. My reasoning was that a property near a university would be easier to get tenants into (insulated from the downturn in the economy)and the value of the property would also be insulated from any hiccups in the economy.

My goal is to purchase about $2.5 Million of property to generate about $200K/year and live off of that. I would use the vast majority of the lump sum payment for philanthropic endeavors and a decent trust fund for the kids. I am 33 years old and my wife is 30 and we make about $250K/year combined and have no plans to quit work (at least not in the next 4-5 years). Does the real estate plan sound feasible? Are there any issues that we should look out for? I was thinking of purchasing the properties out right (i.e. no mortgage), does that make sense? Thanks for any advise.

I learned something new today (by way of US Bank)...

I wasn't sure if there was a BT or CARD Act thread where this should appear, so if the mods feel like merging this somewhere, please do.

I opened a new US Bank card on 2/28 (post CARD Act) and initiated a BT to CapitalOne. I have since gotten the card and all the disclosures, but didn't see the transfer on the US Bank website (total credit is still available to me, etc.) I called them out of concern that the xfer got lost somehow, but they show it as pending in their system. Why it isn't reflected on their consumer website is beyond me.

Anyway, the rep indicated that due to the CARD Act that all BTs initiated on new accounts are subject to a 10-day holding period from the date that the account is opened (in my case, 3/4) until the BT is sent to the target bank. She indicated that this period was to ensure delivery of the account disclosures to the consumer prior to the transfer being completed. I'm not sure if the CARD Act provides for some type of "right of rescission", but if the rep was accurate, this is an obscure CARD Act data point that I was previously unaware of...

Noticed that the number of cards went down @ citicards home page, and decided to check which cards they removed. It looks like PremierPass Elite cards are now gone too.

https://www.citicards.com/cards/wv/filter1Search.do?constituent=...

Ok. So I know that I can withdrawal from my IRA and pay zero penalties/fees IF and only if it is 100% paid back within 60 days. My question is there a limit on the number of times/year I can do this? I want to use this to float some money out for about 40-55 days for another AOR. I'm just curious how many times per year and/or if there is any limit on the number of days in between transactions? Does anyone know if Chase has their own rules which may differ from government/IRS?

Could I?...
Withdrawal a huge chunk on April 1 and repay 55 days later. Say around May 25th
Then..
Repeat again on June 1st??

I'm fully aware that I will not be earning any interest (or losing) at all while the money is not in there and that I'm taking a massive risk. It's all on me. I'm just curious of the legalities behind it.

Story on BOA Ending OD Fees

Can't wait for deadbeats alleging BOA is allowing babies to starve when the grocery purchase is denied.

I'm looking for an online bank account that I can use as a "hub" (transfer money between online bank accounts). It needs to be fast (no 2 or 3 day delay), can be linked to many accounts and gives a decent rate. I've used Etrade in the past but they transferred me to discover bank. I've been reading reviews in this forum on many online banks but it seems that all of them have a 2 or 3 (up to 5) day delay (ally, capital one, etc). Any help is appreciated. Thanks!

Their site is posting this message today. May want to check your CC if you've made a purchase from them.

A few of our customers recently reported to us that information from credit cards they used on the Monoprice website had been misused. We promptly began an investigation with the help of expert computer forensic investigators to determine if any card data had been stolen from our computers.

To date, the investigators have found no evidence that card information has been stolen from Monoprices computer network. As a precaution to ensure that our customers information is not at risk, we have taken our website offline temporarily while we and our investigators complete the audit of our computer network.

We want to ensure that there is no security vulnerability in any part of our computer network system. We notified local and federal law enforcement agencies, our credit card processing business partners, and all credit card companies that some of our customers reported concerns regarding their card information to us.

We also advised these entities that we are working with outside security specialists to determine if there was breach of our computer system. We will post additional information when it is available. We regret any inconvenience that our investigation and the temporary suspension of the Monoprice website may have caused you. Thank you so much for your great support. Thank you for your understanding and shopping at MonoPrice.com.