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Letters to the... - 1370°C

May. 25th, 2006

10:22 pm - Letters to the...

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Dear Irish Broadband,

I cancelled my account with you via email in September. I returned all of your equipment. Clearly, I can't still have service with you when you have that equipment back. It was strange enough that you sent me repeated invoices for months after i'd cancelled, and never responded to a single one of my "no really, i'm not your customer anymore" replies. It was stranger still that one of your techs finally responded to my service complaint that my 2gig connection was running at ISDN speeds 2 months after i stopped being your customer. But really. Today you send me an email saying i can check the status of my account online with your new and improved website? Americans may have invented bureaucracy, but the Irish perfected it.

love,
FeO


Dear CitiBank,

You should be very glad that i'm reasonably sane and good with money. The fact that you keep upping my credit limit without asking me wouldn't be a problem on its own. However, the fact that you do so when you can likely do a credit check and find out what i've made in the last few years *is* a problem. Right now, my credit limit on one card is more than i've made per year for about 10 years. This year, i will make more, but you don't know that yet. I have more money on my credit card right now than i'd like, but nowhere near a ridiculous amount of debt. If, however, i were to take you up on your offer and buy, say, a Yaris with my credit card, you'd be screwed because i couldn't afford to pay you back. I'd likely do something legal that would jack my credit rating but make it so that i didn't have to pay you. Perhaps you want to meditate on this.

head-shakingly,
FeO

Comments:

[User Picture]
From:pixink
Date:May 26th, 2006 01:33 pm (UTC)
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Perhaps you want to meditate on this.

That made me giggle a lot!
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From:_wirehead_
Date:May 26th, 2006 09:41 pm (UTC)
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citibank does the same thing to me. and every time they raise the credit limit, they send you stupid notes like "treat yourself to a vacation!!"

they are gambling on the fact that you will not declare bankruptcy, though. they want people like me, who just carry balances and pay interest on them.
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[User Picture]
From:sinaesthesia
Date:May 26th, 2006 10:39 pm (UTC)
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Even if you do declare bankruptcy, the company will write it off. There is actually a certain percentage of money that credit card companies expect to write off every year as an 'expense.'
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[User Picture]
From:ferrousoxide
Date:May 26th, 2006 11:55 pm (UTC)
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But then doesn't their insurance go up?
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[User Picture]
From:sinaesthesia
Date:May 27th, 2006 12:01 am (UTC)
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Not usually, they've got clauses against that type of thing. There is a pretty good explanation of everything here.

Since most charge offs can be sold to debt collection agencies, the credit card company still gets the money in the end, regardless of whether or not the card holder pays it.



(Reply) (Parent) (Thread)
[User Picture]
From:ferrousoxide
Date:May 27th, 2006 01:39 am (UTC)
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So the debt collection agencies just pay the cc companies even if they don't end up collecting any of the debt?

I just don't know how it works with big places like this. I know at small businesses, they get nothing until the debt is actually collected, and then the collection agency usually takes a huge percentage of what's collected anyway.
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[User Picture]
From:sinaesthesia
Date:May 27th, 2006 01:43 am (UTC)
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I'm guessing that what the debt collection agencies pay the cc companies is significantly less than the amount for which they go after the debtor.

I believe you on the small businesses, though. Big businesses can afford certain protections that the average-joe-business-guy can't.
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[User Picture]
From:ferrousoxide
Date:May 26th, 2006 11:55 pm (UTC)
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Yeah, i guess it's kinda silly that i'm annoyed about 3k in debt. That's really pretty tiny, all things considered. I just hate the whole idea of debt.
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