15 years. The parallel with his life was obvious.
Until it hits you between the eyes , he thought, you don’t realize the effect of poverty. When his credit rating began its descent, small gotchas popped out of the woodwork. The cost of his life insurance rose 20% - blamed on a bad credit rating. He tried to switch policies, but no new company would have him at any price. Again, his credit score was deemed the culprit.
Credit card companies suddenly increased their interest rates precipitously even though they were being paid every month. When Wyatt contacted the banks, they said that he was now a higher risk than before – regardless of his payment history. “I bet you guys showed up late for the battle and enjoyed bayonetting the wounded,” he had angrily scolded one call center employee. It didn’t help; they raised his interest rate again the following month.
Morgan tried to downgrade their satellite television to a basic cable package, but Comcable wouldn’t take them as a customer without a significant deposit. The amount of the deposit was more than what they would have saved with the reduced service. It seemed to Wyatt that everyone was dog piling his family, kicking them when they were down. Job interviews for positions he could handle with one hand tied behind his back led nowhere. Finally, a headhunter returned his call and laid it out on the table – no one wants to hire an accountant with bad credit.
He had checked into bankruptcy and couldn’t find a law firm that would take either his company or him personally as a client without extortionist-level retainer fees. The cost was so prohibitive; Wyatt wondered how anyone could afford to go out of business legally.
When the lease was up on his company car, he relegated to a used SUV. The “We Finance Here” car lot charged extraordinary interest rates that negated much of the savings over a new car. The repair bills for the constantly breaking vehicle resulted in i t actually costing him more than a new vehicle would have.
The role of the humiliation factor couldn’t be ignored. During the last few months the business had been operating, Wyatt had a lot of trouble focusing on work. It seemed like every night there was a new crisis at home, and the resolution was often demoralizing. Constant phone calls from bill collectors filled his voice mail, while endless emails offering money from loan sharks and payday loan hacks cluttered his inbox. Trying to work on a client’s books during this period was next to impossible, and he often wondered if the stress didn’t affect the quality of his work.
Wyatt turned into his neighborhood and noticed another house was up for sale. There were now nine homes listed on his street, four of which were in foreclosure. Thinking about a new start and leaving all this behind actually improved his mood. We’ll make things simpler , he mused.
Three days later, Morgan and he packed the last few remaining items in the house and locked the door behind them - one last time. Each of them anticipated the need to console the other, but that concern was completely unnecessary. Both were relieved this chapter of their financial ordeal was finally over.
The couple stood in the driveway and held hands for a brief, tender moment before driving both cars to the marina. Stopping at the mailbox, Wyatt conducted a small ceremony of placing an envelope containing the keys inside. The mortgage company could wait on the US mail just like everybody else.
On the way to the dock, they stopped by Sage’s apartment. For once, she was actually ready to go and hopped in her mother’s car. Morgan appreciated her daughter taking a few days off so the family could be together during the transition. Since the plan was going so smoothly, she thought about taking a little of the gold money and going shopping. As the two girls followed Wyatt’s SUV through Houston, their conversation centered on how to break the news that a detour to the mall
Until it hits you between the eyes , he thought, you don’t realize the effect of poverty. When his credit rating began its descent, small gotchas popped out of the woodwork. The cost of his life insurance rose 20% - blamed on a bad credit rating. He tried to switch policies, but no new company would have him at any price. Again, his credit score was deemed the culprit.
Credit card companies suddenly increased their interest rates precipitously even though they were being paid every month. When Wyatt contacted the banks, they said that he was now a higher risk than before – regardless of his payment history. “I bet you guys showed up late for the battle and enjoyed bayonetting the wounded,” he had angrily scolded one call center employee. It didn’t help; they raised his interest rate again the following month.
Morgan tried to downgrade their satellite television to a basic cable package, but Comcable wouldn’t take them as a customer without a significant deposit. The amount of the deposit was more than what they would have saved with the reduced service. It seemed to Wyatt that everyone was dog piling his family, kicking them when they were down. Job interviews for positions he could handle with one hand tied behind his back led nowhere. Finally, a headhunter returned his call and laid it out on the table – no one wants to hire an accountant with bad credit.
He had checked into bankruptcy and couldn’t find a law firm that would take either his company or him personally as a client without extortionist-level retainer fees. The cost was so prohibitive; Wyatt wondered how anyone could afford to go out of business legally.
When the lease was up on his company car, he relegated to a used SUV. The “We Finance Here” car lot charged extraordinary interest rates that negated much of the savings over a new car. The repair bills for the constantly breaking vehicle resulted in i t actually costing him more than a new vehicle would have.
The role of the humiliation factor couldn’t be ignored. During the last few months the business had been operating, Wyatt had a lot of trouble focusing on work. It seemed like every night there was a new crisis at home, and the resolution was often demoralizing. Constant phone calls from bill collectors filled his voice mail, while endless emails offering money from loan sharks and payday loan hacks cluttered his inbox. Trying to work on a client’s books during this period was next to impossible, and he often wondered if the stress didn’t affect the quality of his work.
Wyatt turned into his neighborhood and noticed another house was up for sale. There were now nine homes listed on his street, four of which were in foreclosure. Thinking about a new start and leaving all this behind actually improved his mood. We’ll make things simpler , he mused.
Three days later, Morgan and he packed the last few remaining items in the house and locked the door behind them - one last time. Each of them anticipated the need to console the other, but that concern was completely unnecessary. Both were relieved this chapter of their financial ordeal was finally over.
The couple stood in the driveway and held hands for a brief, tender moment before driving both cars to the marina. Stopping at the mailbox, Wyatt conducted a small ceremony of placing an envelope containing the keys inside. The mortgage company could wait on the US mail just like everybody else.
On the way to the dock, they stopped by Sage’s apartment. For once, she was actually ready to go and hopped in her mother’s car. Morgan appreciated her daughter taking a few days off so the family could be together during the transition. Since the plan was going so smoothly, she thought about taking a little of the gold money and going shopping. As the two girls followed Wyatt’s SUV through Houston, their conversation centered on how to break the news that a detour to the mall
Similar Books
