September 2007 - Net Worth

Oh Man, I don't even want to talk about how disappointed I am about this month's (ahem) increase*.

The biggest hit - in my opinion - came from the fact that I realized I had been including air conditioning on my car's worth estimate despite the fact that I have no A.C. in my car!

There is also the severe lack of cash due to paying all my bills basically over the weekend and today.

I also have remained committed to tithing - mainly cause I'm superstitious - but, also because It's good karma.

Hopefully, some of that good karma is starting to come back though. I called the Collection company today and asked them if I paid off the collection in full this week if they would take it off my credit. The collection agent asked me "let me talk my manager and call you back" she called me back 3 minutes later and told me "We can't take it off your credit...but will you pay it all anyway?"

I said "no, I'll pay off $420 with a check I'm sending today, and pay the rest of slowly" we then exchanged pleasantries and said goodbye.

here's where the negotiation kicked in without me even knowing it...

About 10-15 minutes later I get a call and it's the Collection agent "hi Reggie, it's Boopsie from Dooey Cheetum & Howe Collections. I just talked to my manager and we're willing to offer you a settlement-in-full offer if you pay $620 this week rather than the $420 you're about to send in."

In other words they are willing to knock off $600 off my debt since they finally found a 'live one' for the day.

I reluctantly accepted with the personal reservation to negate said agreement if I determine "settlement-in-full" on my credit ends up being worst then "paid-in-full". I'll charge the $200 to my new 0% card at the end of this week and then pay it off once I get the bill. But, honestly, does anyone know the answer?

Does settlement-in-full look worse compared to paid-in-full to lenders? Or are they all the same thing?

Obviously if they're the same thing it's a no-brainer here.

Anyway, I digress. Time to work on some goals for the month ahead.

Progress Report - week ended 9/16/07

Here's a brief update on my September 2007 financial goals:

1. Cut balance on medical collection by 1/2 or from $1619 to $809.50 - or less. - at this point, I'm on track to pay the balance off completely by Month's end. I didn't do so this weekend because of multiple expenses (Mom's B-day, dinner w/ GF, upcoming Concert) . However, a payment at the end of the month will do much less damage to the emergency fund and thus is still good to go.
   
2. Send in rebate so I can get my $50 back for my cell phone - Has been already sent. I just checked on my rebate by phone and online and it appears that they are still processing it or haven't received it yet.
   
3. Raise net worth above $8,000 - Still 'iffy' at this point. May be close by the end of the month.