bookkeeper
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Joined: Mar 30, 2012 13:40:42 GMT -5
Posts: 1,689
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Post by bookkeeper on Aug 3, 2019 10:14:14 GMT -5
So, the deposit is in my bank account. $7578. Be aware, that ACH deposits can be reversed for a number of days after the initial transaction. If this is an error and they correct it, the originator will reverse the entire amount and run a new ACH deposit for the claim less deductible. What I am saying is, don't get caught short in your checking account if you pay the well repair and the insurance company decides to reverse their error. I know all about this because I had an employer reverse my entire paycheck without telling me. This all happened after I had personally stopped by the bank and verified my payroll deposit.
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Deleted
Joined: Apr 25, 2024 5:35:24 GMT -5
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Post by Deleted on Aug 3, 2019 10:23:54 GMT -5
So, the deposit is in my bank account. $7578. Be aware, that ACH deposits can be reversed for a number of days after the initial transaction. If this is an error and they correct it, the originator will reverse the entire amount and run a new ACH deposit for the claim less deductible. What I am saying is, don't get caught short in your checking account if you pay the well repair and the insurance company decides to reverse their error. I know all about this because I had an employer reverse my entire paycheck without telling me. This all happened after I had personally stopped by the bank and verified my payroll deposit. Uh...ouch. That would be bad! I think I will transfer some money from my HELOC to just sit in checking for a week or two. I just mailed the check to the well company Thursday night, so they probably won't deposit before Monday.
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Deleted
Joined: Apr 25, 2024 5:35:24 GMT -5
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Post by Deleted on Aug 3, 2019 15:07:19 GMT -5
Be aware, that ACH deposits can be reversed for a number of days after the initial transaction. If this is an error and they correct it, the originator will reverse the entire amount and run a new ACH deposit for the claim less deductible. What I am saying is, don't get caught short in your checking account if you pay the well repair and the insurance company decides to reverse their error. I know all about this because I had an employer reverse my entire paycheck without telling me. This all happened after I had personally stopped by the bank and verified my payroll deposit. Uh...ouch. That would be bad! I think I will transfer some money from my HELOC to just sit in checking for a week or two. I just mailed the check to the well company Thursday night, so they probably won't deposit before Monday. Why not just call and ask on Monday? I've been pleasantly surprised most of the times when I've done that. And when I haven't been pleasantly surprised, at least I was thanked for my honesty. I just don't like the idea of something waiting to happen.
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jerseygirl
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Post by jerseygirl on Aug 3, 2019 15:33:50 GMT -5
Our home insurance now has a $40 year rider that covers all our appliances, well and generator. Think it’s $500 deductible Fabulous feature and about less than a month after we signed up our well pump had to be replaced also water heater that broke due to running dry when well broke
Peace of mind!!
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Rukh O'Rorke
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Joined: Jul 4, 2016 13:31:15 GMT -5
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Post by Rukh O'Rorke on Aug 3, 2019 17:23:16 GMT -5
I have the money to pay cash. It will make me very sad. Very. very. sad. Point of the thread was just me thinking out loud about comments I've heard over the years about keeping no savings and using credit cards for emergencies. well - it's not like using the cc for the emergency is the end of the emergency. It then has to be paid. so - if no EF and someone is living close to paycheck to paycheck, a 7500 on the credit card may take an awfully long time to pay off, and that may change their tune a bit. If they are putting 1k or more into various nonretirement accts/month - not really a biggie. But if they don't have an EF because they only have maybe 2-300/month in play after all monthly obligations are paid, that 7500 will take a very long time to pay off. And if other emergencies crop up, as they tend to do, then they are off on a spiral. But - that said - can you cash advance and get the 0%? Or cash advance on one card, then balance transfer another to get 0%? Not you in particular, just in general. I haven't been one to do the 0% offers, but I did just get one in the mail today. I was going to shred as usually, but then I set it aside, just in case. Ussed to be things were so chaotic for me, I'd be sure to mess up the terms somehow. Maybe I can pull if off these days?
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 3, 2019 17:36:00 GMT -5
Well, I have a feeling I'm going to deeply regret this, but I filed a claim with insurance. oh no!!!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 3, 2019 17:38:13 GMT -5
Could you talk to your agent and get info on how it might affect your rate and likely outcome? Maybe they've got experience with these types of claims? I called once just to ask if basement flooding was covered as we had the city system back up. The answer was no. they jacked up my rates about 500/yr. I never involve insurance if I can handle. not for car, house, etc.
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Rukh O'Rorke
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Joined: Jul 4, 2016 13:31:15 GMT -5
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Post by Rukh O'Rorke on Aug 3, 2019 17:41:02 GMT -5
INSURANCE IS PAYING 6K!!!! Holy crap, that was the easiest claim ever. They didn't even ask for a receipt or the number of the well guy! Just wiring the money to my account (and increasing my premiums $240 ish dollars a year starting next Feb). So. Relieved.
wow! fantastic!!!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 3, 2019 17:45:46 GMT -5
I'm so late to this party......hope my comments weren't too incongruous.
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Deleted
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Post by Deleted on Aug 3, 2019 21:20:29 GMT -5
Could you talk to your agent and get info on how it might affect your rate and likely outcome? Maybe they've got experience with these types of claims? I called once just to ask if basement flooding was covered as we had the city system back up. The answer was no. they jacked up my rates about 500/yr. I never involve insurance if I can handle. not for car, house, etc. Insurance companies freak out about flooding. Hail and lightening they're a lot more relaxed on. Most people around here never have to buy a new roof because you're almost guaranteed to get it replaced for hail damage every 20 years or so.
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Deleted
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Post by Deleted on Aug 3, 2019 21:24:08 GMT -5
Ussed to be things were so chaotic for me, I'd be sure to mess up the terms somehow. Maybe I can pull if off these days? I say don't risk it. Back in April I opened a 0% for 14 months card to put a bunch of big ticket items on. I've done nothing but pay in full the past 15 years, but now after only 4 months of carrying a big balance (8K), my finances are just going to sh**. It just spiraled out of control so fast.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
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Post by Rukh O'Rorke on Aug 4, 2019 9:01:56 GMT -5
Ussed to be things were so chaotic for me, I'd be sure to mess up the terms somehow. Maybe I can pull if off these days? I say don't risk it. Back in April I opened a 0% for 14 months card to put a bunch of big ticket items on. I've done nothing but pay in full the past 15 years, but now after only 4 months of carrying a big balance (8K), my finances are just going to sh**. It just spiraled out of control so fast. One of the reasons I am loath to do it is that I am looking to maybe refi the house and the student loans. i don't want any unnecesary hits on my credit. But - if I can do those 2 refis - and then open the card, I may do it. I have about a month before the offer runs out. Not sure about the SL refi. But definitely want to do the mortgage with rates on the downward. Just reread the offer, and all purchases are 0% for 18 months. I think I should do it. I will charge all food and incidentals on that while I pay off the IRS and then have some time to pay off this card. OO - I could do some home improvements maybe ooooo! Yep - going to get myself in trouble here! Sure - I could get caught, but I'm caught now, so there's that!
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CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
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Post by CCL on Aug 4, 2019 10:06:55 GMT -5
So, the deposit is in my bank account. $7578. Be aware, that ACH deposits can be reversed for a number of days after the initial transaction. If this is an error and they correct it, the originator will reverse the entire amount and run a new ACH deposit for the claim less deductible. What I am saying is, don't get caught short in your checking account if you pay the well repair and the insurance company decides to reverse their error. I know all about this because I had an employer reverse my entire paycheck without telling me. This all happened after I had personally stopped by the bank and verified my payroll deposit. This happened to us, too. Payroll deposit was doubled. Most coworkers spent the money the same day. They were in for a rude awakening when the error wss corrected overnight!
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CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
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Post by CCL on Aug 4, 2019 10:11:01 GMT -5
I say don't risk it. Back in April I opened a 0% for 14 months card to put a bunch of big ticket items on. I've done nothing but pay in full the past 15 years, but now after only 4 months of carrying a big balance (8K), my finances are just going to sh**. It just spiraled out of control so fast. One of the reasons I am loath to do it is that I am looking to maybe refi the house and the student loans. i don't want any unnecesary hits on my credit. But - if I can do those 2 refis - and then open the card, I may do it. I have about a month before the offer runs out. Not sure about the SL refi. But definitely want to do the mortgage with rates on the downward. Just reread the offer, and all purchases are 0% for 18 months. I think I should do it. I will charge all food and incidentals on that while I pay off the IRS and then have some time to pay off this card. OO - I could do some home improvements maybe ooooo! Yep - going to get myself in trouble here! Sure - I could get caught, but I'm caught now, so there's that! I'd do it to pay off IRS, but not for any extras, just wait on those.
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Rukh O'Rorke
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Joined: Jul 4, 2016 13:31:15 GMT -5
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Post by Rukh O'Rorke on Aug 4, 2019 10:31:28 GMT -5
Be aware, that ACH deposits can be reversed for a number of days after the initial transaction. If this is an error and they correct it, the originator will reverse the entire amount and run a new ACH deposit for the claim less deductible. What I am saying is, don't get caught short in your checking account if you pay the well repair and the insurance company decides to reverse their error. I know all about this because I had an employer reverse my entire paycheck without telling me. This all happened after I had personally stopped by the bank and verified my payroll deposit. This happened to us, too. Payroll deposit was doubled. Most coworkers spent the money the same day. They were in for a rude awakening when the error wss corrected overnight! What on earth ? Crazy! What did they think? it was a bonus?
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Deleted
Joined: Apr 25, 2024 5:35:24 GMT -5
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Post by Deleted on Aug 4, 2019 12:32:59 GMT -5
Be aware, that ACH deposits can be reversed for a number of days after the initial transaction. If this is an error and they correct it, the originator will reverse the entire amount and run a new ACH deposit for the claim less deductible. What I am saying is, don't get caught short in your checking account if you pay the well repair and the insurance company decides to reverse their error. I know all about this because I had an employer reverse my entire paycheck without telling me. This all happened after I had personally stopped by the bank and verified my payroll deposit. This happened to us, too. Payroll deposit was doubled. Most coworkers spent the money the same day. They were in for a rude awakening when the error wss corrected overnight! Well that was just plain stupid. They had to know they would fix that. Even just spending your entire normal paycheck the same day seems nuts to me.
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CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
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Post by CCL on Aug 4, 2019 14:28:07 GMT -5
Yeah. People are pretty stupid. They figured the company wouldn't notice, but also thought there was no way the deposit could be reversed. I didn't spend the money anyway, but just to educate myself, I asked the bank manager. He said, yes, they could reverse deposits, but it had to be exactly the same amount. So that's what the company did, took back the first deposit and deposited the correct amount.
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Deleted
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Post by Deleted on Aug 4, 2019 18:04:40 GMT -5
State Farm just sent me an email asking me to rate my experience.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 17, 2019 14:45:49 GMT -5
and - how was it? Did I miss something with your wondering emoji there?
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Deleted
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Post by Deleted on Aug 17, 2019 22:03:08 GMT -5
and - how was it? Did I miss something with your wondering emoji there? I was wondering if I should tell them that I thought it was pretty awesome that they didn't even charge me a deductible or ask for a receipt.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
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Post by Rukh O'Rorke on Aug 18, 2019 10:15:21 GMT -5
lol, no - don't mention that!!
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