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{ 15 comments… read them below or add one }

1 Simon Halls

I agree with one of the comments about keeping things simple. Of course, everyone has their own mindset and methods but for me a couple of basic accounts do the job for me without needing lots of seperation.

Good luck with things though Khaleef.

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2 KC @ genxfinance

Ouch. That was rough. They couldn’t have given you a few days extension? Like we’re not already stressed out enough already with other things, right?

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3 Khaleef Crumbley

Crazy, right? But I am playing ball on their terms, so I have to deal with this until I get out of debt.

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4 Eva

Well. It’s official. I’m sticking with the envelope system after reading this! :-)

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5 Khaleef Crumbley

I would say that you should keep your finances as simple as possible! You don’t want this headache, Eva :)

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6 DJ - MoneyforCollegePro

Man, shutting down your accounts for missing the payment deadline by a few days? That is rough! I would definitely suggest a new credit card company. We used BoA, and they were horrible, but have since moved to Chase, and they have been much much easier to work with.

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7 Khaleef Crumbley

Yeah, I can’t believe that they did that! And the sad part is that they didn’t even contact me about it. I know it’s my fault for missing the statement email, but I wish they would have at least reached out to me before shutting down the business account.

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8 Grayson @ Debt Roundup

When it rains, it poor’s. I think PayPal just does its own thing when they wish. Sorry to hear about all of the problems.

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9 Khaleef Crumbley

That’s what it feels like. I just hate that they did it on such a large transaction. But I am making sure that some good comes out of this. It has really lit a fire under me!

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10 TTMK

Nobody needs stress in their lives, much less added stress. Debt does add it, and I definitely think about the comparison to servitude. Hope things brighten up there, Khaleef!

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11 Khaleef Crumbley

So true. We have definitely come to hate debt more and more recently because of things like this.

Thanks, Ray!

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12 A Blinkin

I’m a sucker for simplicity so I only have a few accounts. I don’t like the idea of having everything separated (emergency fund separate from savings, etc.). It’s crazy how convenient automation is, but it can also cause quite a few headaches.

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13 Khaleef Crumbley

This is why we hate this debt so much. It is so frustrating to manage all of these accounts and transactions. Especially, since we are extremely tight with our spending now – but we are paying for past mistakes.

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14 Matt Becker

Sounds like a pretty frustrating ordeal. I know with our checking account, we have a savings account linked so that any accidental overdrafts from checking would just be taken from savings. We also keep a buffer in our checking account. We count the savings account as part of our emergency fund.

For the late payments and overdrafts, I would definitely call the banks and make sure they don’t charge you anything or report the late payment to the credit bureaus. If you normally don’t have these things, they should be pretty willing to do this to keep you happy as a good customer.

Good luck getting everything straightened out!

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15 Khaleef Crumbley

That’s how we have things set up for our personal accounts, but for some reason I never took care of that for the business. I will make sure to do that.

I plan to call the bank on Monday to make sure I don’t get charged for that. I can’t believe they would only give me several days from the statement to make the payment!

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