June 8, 2010

• Being unemployed sucks. With projects no longer coming in, my bank account balance is dwindling. I have two bills, my cell phone and my one credit card that has a balance. I don't use the cc, but I have a payment going there each month for a time share the ex and I bought together. The ex sends me money for it each month. Unfortunately I have been paying only 3/4 of the monthly charge and pocketing the rest so I have food money. Now my cc is almost maxed out. I have a payment protection plan on the card also. The monthly charge for that has hit about $60 a month. So, trying to be a bit more economical I called them today to cancel the plan. I had already activated the "emergency" payment sometime in the last few months just so I could use a benefit (for the first time in 4 years) before I canceled. As sales people they do their best to try and keep me paying into the protection. When I stated that I am unemployed and cannot afford the even cut benefits and reduce the charge they said well, you have a benefit to cover that. What?? I do? Being that our clients were forced to take their business somewhere else and I have not had work in the last 30 days I qualified for the unemployment benefit. They will make a payment today that covers the April through June minimum balances including the cost of the plan. From here on out they will cover my minimum balance (again plus the cost of the plan) for the next 12 months or until I become employed. No hit to my credit, no effect on my financials at all because I pay for the protection and have paid into it for 4 years.

  Talk about a load off!!! Whew. I was getting a little scared about not being able to pay in the coming months.

  So. Anyone with active credit cards who are offered these plans. I say go for it. When I got the sales call so many years I thought I would never use this. Well today I am glad that girl was such a good saleswoman and sold me on the whole package. If I get a job soon, I will not be canceling this plan to save money. Nope not after this.

  What a great way to start the day.

   

  • 4:05 PM
  • 2 Comments