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Financial flub and furniture updates

January 7th, 2015 at 08:42 am

We messed up Frown Technically, it was SO, but we're in this together, so I'll say we. To be fair, it was an honest mistake. Apparently, Navy Federal has two account numbers. On NYE, he set up the rent and Verizon payments. He used the account number listed on our bank statement. Yesterday, we found out our rent payment was returned and since it was now past the 5th, we also owed late fees in addition to the insufficient funds fee. The account number on our check is different from the one on the statement... We immediately called Verizon to see if we could back that payment out before it got returned, but we were unfortunately too late. Verizon wouldn't do anything about the insufficient funds fee (20), but I was able to resubmit the payment in time to avoid late charges as it was due yesterday. I spoke to the apartment manager yesterday and he said he'd see about getting each of the charges halved (it was $40 for the returned payment and $212 late fee). As of yesterday, the returned payment fee was halved. I'm not sure if that means they won't be reducing the late fee or if they're waiting for my payment to clear first/still deciding. I'll follow up with it in another day or so.

As for the furniture, the mattress delivery was cancelled due to weather (not their fault, but still extremely frustrating...). Rescheduled delivery is tomorrow. But the awesome news, we invested in a couch (12 months 0% interest) and weren't expecting it for about a month, but I just received a call that it was in!!! Delivery is scheduled for Saturday. Payments for the couch are out of our joint account, and I plan to pay it off in 8 months just to be sure there are no residual amounts by the year mark.

So, by the start of next week, we should have our bed, couch, and my dog!!

7 Responses to “Financial flub and furniture updates”

  1. snafu Says:

    Ouch! what an expensive mistake. What will it cost to have NSF protection from Navy Federal? I'd check one of the four credit reporting services next month to see if it has affected SO's credit rating. Perhaps it would help to check bank balances weekly until you're both more familiar/experienced with these new to you accounts.

  2. PatientSaver Says:

    So sorry you got all those late payment penalties. A $212 late fee sounds a little extreme. I wonder if it's even legal. I was curious why you're referring to the couch purchase as an investment. Investments are items that have the potential to grow in value over time, like a house or perhaps collectible art. A couch, like a car, begins losing value the minute to get it home.

  3. pjmama Says:

    That stinks! An honest mistake, yes. No less frustrating, though. At least you have some things to look forward to! Enjoy your new furniture!

  4. debt-free by thir-ty Says:

    Snafu, I haven't looked into that, but it wouldn't have mattered in this case. There was plenty of money in our account, but since he used the wrong 'account number', it returned the payment because that account doesn't exist.

    PatientSaver, I thought it was insanely high too. I was particularly upset because had I known sooner that it had declined, I would have immediately repaid it correctly and would have been able to avoid the late fee. And you're absolutely right...investment was a bad term. I simply meant that we purchased one intending to be a long-term piece for us (as opposed to my Ikea loveseat that we're currently using...).

  5. LuckyRobin Says:

    I consider good quality furniture that will last for many years (or a lifetime) to be an investment. My dresser and bedroom furniture are high quality, solid pine. I expect they will be around longer than I will and will be handed down. Our sofa will last at least 20 years the way it is built. So to me that is a good investment. It has long-term benefits. It may not give you a profit, but the return on use is high.

  6. FrugalTexan75 Says:

    That is a huge late fee for one day! Yikes!

  7. debt-free by thir-ty Says:

    LuckyRobin, that is how I meant it when I used the term, but I definitely see PatientSaver's perspective on its lost value.

    FrugalTexan, I know, right!! It's 15% of my rent. I'd thought it was steep when reviewing the lease, but since I never planned to pay late, it didn't seem like that big a deal. Rest assured, I will now submit payments on like the 20th, so I can be absolutely sure everything is set by the 5th...

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