Thank You, You Stupid Idiots

Today, I take my car to the body shop to be painted. Someone, sometime and someplace decided to dump something (paint thinner, stripper, etc) on the back end of my car that ate away the paint (luckily the the primer was left). Not only that, it ate into the plastic taillights and bumper. I received a check from the insurance company for $1200 (after the $500) deductible.
However, I am only having the metal parts repainted and calling it good. That means the rest of the money will be applied to my car loan. The cost of this portion is $552. So, I would like to say thank you to the vandals for this wonderful $550 bill.

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Debt Validation - Some facts

This is a guest post by Sam, a member of creditmagic.org

Debt validation is also known as debt verification. This term denotes the authority of a consumer to dispute a debt and/or get authentication of a debt on paper from a debt collector. The authority to challenge the debt and get validation is an integral component of the rights of the consumer according to the Federal Fair Debt Collection Practices Act or FDCPA in the United States and is specified in §809 of this act.

Who is regarded a debt collector?

As per the Fair Debt Collection Practices Act, any entity or individual, as well as lawyers who are involved in collection of consumer debts on a regular basis are regarded as debt collectors. Hence, it is necessary for them to reply to appropriate requests for debt validation. On the contrary, the original lender and its staff usually do not come under the FDCPA. However, they might be controlled by other federal and state statutes. These statutes include the Fair Credit Reporting Act (FCRA) that was amended by the Fair and Accurate Credit Transactions Act (FACTA) in the year 2003.

Debt validation letter

A debt validation letter is sent to collection agencies, requesting them for validating a debt.

When can a consumer challenge a debt or request for debt validation?

At any point of time, a consumer can challenge a debt. However, according to the Fair Debt Collection Practices Act, if he sends a written application within a period of 30 days of the first written notification of the debt, then only the validation rights get activated. The FDCPA explains in simple terms particular words that should be included in the first written notification to the customer, especially that the consumer has 30 days to challenge the debt and apply for validation. Nevertheless, if the consumer fails to challenge the debt within this 30 day phase, this does not represent a lawful acknowledgment of the debt.

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16th Bank This Year

Well, it's Saturday and I am hurriedly publishing a post before work. So that must mean on e thing. You guessed it, anther bank has been seized by the feds. According to the FDIC press release:

Alpha Bank and Trust, Alpharetta, Georgia, was closed today by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank, National Association, St. Cloud, Minnesota, to assume the insured deposits of Alpha Bank & Trust.

The two branches of Alpha Bank & Trust will open on Monday, October 27, 2008 as Stearns Bank, N.A. Depositors of the failed bank will automatically become depositors of Stearns Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

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Cold Weather Moving In

I broke down this morning, and turned on the heater. I was hopping to not turn the heat on until the first of November.However, when my house got down to 63 degrees, I decided that I must go ahead and turn it on.

When I did though, the thermostat didn't want to work. After messing with it for an hour it finally decided to turn the heat on. Sounds like I will need to purchase a new thermostat. Which, when I do, I am going to replace it with a programmable one. My current thermostat is digital, but not programmable. So, I can not preset the thermostat to adjust the temperature according to the times that I am usually home or gone.

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Is She The One? The Quest For My Princess Continues....

On several occasions I have discussed my desire to meet someone special. Well, a few weeks ago, I was online and meet someone, and we have been talking everyday since. She seems to be a wonderful woman and I am eager to meet her. The only problem, is that she lives in Virginia and I live in Kansas. Still, though people from different parts of the country connect with the internet and it develops into something more. So whose to say it won't happen this time.

Perhaps, I will travel for the first time (since April 2001) in a few months and meet her. The logistics and timing must still be worked out, but we are both talking about the possibilities. However, it may be even more possible after reading an article on ABC News.

She, like me is opposed to credit cards and believes in using cash. Which is way cool, I never thought, I would actually meet someone like that. So, we will see. Anyway, I did want to update you all as I search for my Princess of Thrift. As my debts get paid down, I think I should begin considering budgeting for dating.

****Update...even if she isn't the one that will become my Princess, I still need to start budgeting for dating.****
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Mural Dedication - 2008

I am finally getting the mural dedication pictures uploaded. Sorry, it took so long. The newest 2 panels were dedicated in early September. Now, we are looking to next year, when we will start phase 3. Hope you enjoy the photos that Roy O'Neil took.


Speakers at the dedication speak from a portable stage, set up by the city.

The artist, David Lowenstein being interviewed by the local media.

A crowd of 50-60 people showed up for the dedication.

- Kevin Surbaugh

Economic Crisis - Is It Over? - Bumpy Ride Ahead

I was reading today an article that took on the economic crisis. Is it over? I have thought, even before the so called bailout, that there would be more failed banks from the sub-prime mortgage mess. A mess caused in part, by the intimidation and lawsuits from Acorn and Obama. (Obama took Citibank to court to force them to issue subprime loans)

Now, according MSN, it may go deeper then that. How? According to Gregory Larkin.

"The next meltdown will be in credit cards," says Gregory Larkin, a senior analyst at research firm Innovest Strategic Value Advisors.

According to the article there are several other economists who agree.

Adds William Black, the senior vice president of Moody's Investors Service's structured finance team: "We still haven't hit the post-recessionary peaks (in credit card losses), so things will get worse before they get better."

And the $700 billion mortgage bailout won't be a lifeline for credit card issuers.

So folks, buckle up, it's likely to be a bumpy ride.
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Another 2 Banks Fall

According to press releases from the FDIC, another two banks were seized Friday (Oct 10, 2008). First Meridian Bank was closed. According to the FDIC:

Meridian Bank, Eldred, Illinois, was closed today by the Illinois Department of Financial Professional Regulation-Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC approved the assumption of all the deposits of Meridian Bank by National Bank, Hillsboro, Illinois.

All depositors of Meridian Bank, including any with deposits in excess of the FDIC's insurance limits, will automatically become depositors of National Bank, and they will continue to have uninterrupted access to their money. Depositors will still be insured with the new institution. Therefore, there is no need for customers to change their banking relationship to retain deposit insurance.

Second, is the Main Street Bank. According to the FDIC:

Main Street Bank, Northville, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC approved the assumption of all the deposits of Main Street Bank, by Monroe Bank & Trust, Monroe, Michigan.

All depositors of Main Street Bank, including any with deposits in excess of the FDIC's insurance limits, will automatically become depositors of Monroe Bank & Trust, and they will continue to have uninterrupted access to their money. Depositors will still be insured with the new institution. Therefore, there is no need for customers to change their banking relationship to retain deposit insurance.

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Holdings Down - Personal Economy Is Up

Friday, I got my statements from my retirement accounts. First my TransAmerica acount, which was opened a few months ago, when I rolled over my former company's 401-K. I had rolled over $4,761.93 and paid $15 in fees. According to my 1st quarterly statement, I lost $733.71 or 15.4%.

I also received my statement from my current employers Simple IRA Plan, over the course of the last couple months, I have deposited $657.98 (includes employers partial match). With the down turn in the market, I lost $70.46, or 10.71%.

As with so many people, I am feeling the pinch in my retirement accounts. However, my individual stock holdings are seem to be doing a little better overall (as of Saturday).
My account, last time I looked was valued at #333.86, but now is at $266.86.
As many know I like Dave Ramsey, and he is against or advises against owning individual stocks, but many of mine are less then 1 share (at this point).

Westar Energy 0.7939 shares down $2.21 (-12.99%)

Pier 1 3.1441 shares down $14.31 (-71.34%)

Kroger 5.1986 shares up $35.03 (+39.54)

Coca-Cola 2.0001 shares down $3.4095 (-3.92%)

Berkshire-Hathaway 0.0087 shares up $7.89 (+31.56)

Over all my individual stocks was up from where I had purchased them by $23.00 (+9.69%). If I had the money. This would actually be a good time to increase my holdings in these stocks, so that I could ride them back up.

Getting away from the the market, my personal economy is up. That is because, I had the foresight, two years ago, to get out of debt. If I was still in debt like I was 2+ years ago, I would be in a world of hurt in this economy. I could be better, but I certainly could be worse. And, in the next few months, I will be debt free. Can't wait till the day I can be on the Dave Ramsey show yelling, "I'm Debt Free." Expecting that will be July, but hoping for March. I mean wouldn't that be great, if this blog turns 3, the same month I pay off the last of my debt?



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Considering Magic Jack

I was reading JW's blog over Need to be Debt Free and seems he has been considering getting a Magic Jack for a land line. Likewise, I have been considering the same thing, but wondered about receiving calls.
A question that seems to be answered by several of his readers. Perhaps they can be confirmed by mine. According to his readers, the computer has to be on 24/7 in order to make and receive calls. Doesn't sound like that would be be very secure. Opening yourself up to more possible internet virus'. Of course one could argue that a strong firewall would help with that. Still, I don't like having my computer on that much. I suppose one way around that would be to create a wifi network in the house and have a second computer just for the new phone. It should would save lots of money over a regular land line.

Then there is the guy on you tube, that says the service was choppy and difficult for the people on the other end to hear, and difficult to get a connection.


So now I have more questions now, then I had before. However, another guy sounds pretty positive in his You Tube video.



and other YouTube and and reviews that I have seen/read were mixed. I do like the guy below, that says, it's not a great replacent as your only phone, but is a great addition for outgoing calls.

So what do all of you think? Should I try this product?

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Question For the Presidential Candidates

Greetings, usually my posts here have to deal with money in some way. In fact, I usually try to stay away from politics on this blog. However, today I have non-partisan, non-political and yes a non-money question for each of the candidates for President. Will you help me, in making sure the candidates see this video, by taking a look at it yourself?



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Critical Hit

Would love to read your comments on this pic. Do you know where this pic was taken at? Leave your thoughts and answers in the comments.


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Cable Company Tries To Lie to Me

The other day, I finally was able to get a full spectrum of local channels with my digital converter box and antenna. The solution, was to purchase a different antenna. A Phillips DTV antenna, that sales for about $40. So once, I was able to pull in the digital signals, I called Cox Cable to discontinue the cable TV.
The lady, I got, asked why I was discontinuing the cable portion of my service. When I told her, she asked if I still wanted to, if I knew that I wouldn't have any reception come February without cable.
When I told her that wasn't true, she asked, "how do you figure?" Was this broad really that dumb? I couldn't have been the first to explain it to here.

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A question for President Bush, Senator McCain and Obama

This is an open question to the two major Presidential candidates and the current President.



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And that's my view, what's yours?

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Is your name Kevin? Do you like to write? Do you have a passion for politics? Would you like a place to share your thoughts? If the answer is yes, please email me, and let me know of your interest. I would like to make this a group blog and am seeking volunteers to blog with me.
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Thank You Ms. X

Thank you MS. X, the $5 was applied towards my debt retirement.

Never Have a Car Payment Again

Want a new car? It is possible to never have a car payment again. To find out how, in easy step by step terminology, this video explains how.




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Free Market Vlog Thoughts

The other day, someone asked what happened to my Conservative values? What happened to the idea of Free Market? Where the weak will be shaken out and the strong will survive. I still believe cash is the way to go, rather then credit. I mean if you can't afford it, then save up.

I haven't lost my Conservative values, but I do stand for the poor and unfortunately we do need some regulations to take care of the hand full of greedy banks/business' that want to take advantage of the poor with such things as ARM's and Payday Loan places. Watch my video, as I go into more detail.



I recorded the video last night 1-2 hours before the Senate voted 74-25 to pass the massive $700 billion bail out bill.
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My 1st attempt at a video post

Here is my first attempt at a video post. As you will be able to hear, I am very unprepared as I stutter my way through. However, that is something I can work on. What I can't figure out is why I am so dark in the video. Even though the background is pretty well lighted.



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What's Wrong With The New Bail Out Proposal

A couple of days ago, the U.S. Congress sent the bail out of Wall Street and the financial industry down in flames. Today, the U. S. Senate will take up the issue.

Senate leaders scheduled a vote today on a $700 billion financial bailout package after agreeing to add tax breaks and a higher limit for insured bank deposits in a bid to attract enough votes to reverse a shocking defeat in the House and send legislation to President Bush by the end of the week.
- Minneapolis-St. Paul Star-Tribune

So what is the plan?
Well, not much is really known. We do know it will raise government (FDIC) coverage for bank deposits from the current $100,000 to $250,000. We also know that both Obama and McCain are heading back to Washington to vote on the new bill. Other then that, Senate Leaders are not revealing the details of the bill.

Perhaps, it is my skepticism, but I do not want to support a bill that I don't know anything about. Does the Democratic leadership think this will keep people from calling them in opposition to the bill, so they can sneak it through? If so, and I hope not, then it shows how crooked they are. It would show, why this bill will be detrimental to the American public.

We need to solve the the problem, but the public MUST be informed. We cannot have something shoved down our throats.

As, I said a few days ago, any legislation should provide some protection to those people who were taken advantage of by predatory lenders and loan products. I agree, these people have to take some blame for even seeking loans when they knew they couldn't afford it, but it is even worse for these financial institutions that knew they were loaning to such credit risks but gave out sub-prime loans anyway. As such, any legislation should also ban such sub-prime loans as ARM's and predatory lenders as bad as Payday loan shops. Or at least severally regulate these predatory lenders and loan projects.

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