Recent comments in /f/personalfinance

therestarefake t1_iyee63f wrote

Reply to comment by MyFreeAccount in My 19yo nephew was at fault and uninsured in an auto accident. He received a bill for $54k from the opposing insurance company. by MyFreeAccount

Was he excluded from the policy for poor driving or driving under the influence? Or was he removed as a regular vehicle driver by the owner of the car? Two different things. The first means if he drove the vehicle the owners should know he won't be covered and they ( and he) will be sued. The second should still cover him under a standard liability insurance policy because the vehicle is insured, not the driver. It will not, however, cover the vehicle he was driving.

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SkyliteBlueSnake t1_iyedxkc wrote

Reply to Debt of Deceased Parents by GraciousBassist

Did you follow your state-specific rules on what an executor has to do to notify creditors? (this varies very much by state. Some states require the executor to put in some effort into tracking down creditors others only require that an executor take out an ad in an approved newspaper for a certain number of weeks). If you followed your state's rules on tracking down creditors and paid the identified creditors in the order that is required in your state, you can tell this debt consolidation company "too bad, so sad."

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Luxferro t1_iyed898 wrote

Reply to Medical Bill Sent to Collections that Provider Never Sent to Insurance by CookIntelligent6087

I had a collection agency contact me once a long time ago. It was related to car insurance. I bought a different car and switched my insurance to the new car, and they increased my rates like 2X the price. I shopped around for quote right away, and easily found a place for like 1/2 the cost. I then contacted them to cancel my insurance.

Months later they sent me a huge bill, which I refused to pay because they dragged their feet canceling the insurance. Then I got a letter from a collection agency about it. I explained that I have been a loyal customer to the insurance company for X years, and always paid my bills on time. Explained that I bought a new car and they tried to rip me off, so I found a new insurance company for 1/2 the cost they wanted from me. That I had called them right away to cancel the plan with them. That I basically refused to pay their bill because they were trying to rip me off.

I never heard from the collection agency again. My credit rating has been excellent my whole life. I'm not saying you should do this, but just sharing my one experience with a collection agency.

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SomeInternetRando t1_iyed76n wrote

Reply to Chase credit card limit increase by Scr0bD0b

The hard inquiry isn't too uncommon.

The mother's maiden name is a common (though terrible) identity verification step for banks.

But if the password is your login password, I'd pass, and probably switch banks, because that screams "we have terrible account security" almost as bad as "your password can't have these blacklisted special characters" or "password can't be longer than n characters". At that point, I'd err on the side of assuming my password is stored in plaintext somewhere in their system, and change it anywhere where I'm using the same password.

If, however, it's some kind of separate identification verification passphrase you set up when creating your account, that's somewhat common, and I'd trust it if you called the number on the back of your card.

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theoriginalharbinger t1_iyecqr5 wrote

Reply to comment by AlwaysNextGeneration in My mother passed away and my father told me to pay 3000 dollars for the W2 salary from my mother. by AlwaysNextGeneration

>From March 2013 to June 2013, my father came back to my mother's house, where I lived, and asked me to head to the Bank of America to get all the life insurance money.
>
>However, he told me that it wasn't the life insurance money. He said it was the money from the Will. At the same time, he asked my brother to give my money from the Will to him and transfer it to me. Thus, he stole my money from the Will, and I really thought I got my money from the Will.

Again, you're meandering into really pointless detail while skimming over the highlights.

Missing from this is "Who is the executor?" And it's still confusing, because you contradict yourself in your first sentence ("asked me to head to the B of A to get all the life insurance money" vs your second sentence "He told me that it wasn't the life insurance money. He said it was the money from the Will")

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theoriginalharbinger t1_iyecapw wrote

Reply to comment by MyFreeAccount in My 19yo nephew was at fault and uninsured in an auto accident. He received a bill for $54k from the opposing insurance company. by MyFreeAccount

Yeah, so chances are - and you should ignore everyone upthread saying "He should be covered!" because that isn't how it works - there is a requirement that all members of the household be either named as included drivers or specifically excluded.

This is done so that Sober Jane can't just get insurance for herself, and then toss the keys to her spouse, Drunken Bob With 3 DUI's, whenever he wants to drive. If somebody is a member of the household, there is specific treatment for that household member. That they "removed" him likely means that he is now specifically excluded as he is a member of the household.

Even if they do elect to cover him, you'd want to see what the property damage limits on the policy are. California is (drumroll) 5k property damage minimums. So even if they do have a policy in effect, it might be very very limited.

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