My already bad day was made a little worse today when I got a call from WA Mutual saying that they hadn't yet received my February payment. I checked my checkbook and discovered that I had mailed the check on the 5th of February.
Since they "hadn't received it," I called my bank and put a stop-payment on the check, which cost me $17.
After stopping payment, I called WA Mutual's 1-800 number back and after two fruitless attempts to reach a live person was told that I had to make a payment today in order to avoid being "reported to credit agencies." Of course, in order to make the payment I would have to pay an additional $10 for making the payment over the phone, and that was in addition to the $27.67 late fee that was assessed for being late.
Now I haven't missed a house payment in the 15 years I've owned this house, nor in the 17 years I owned my previous home, though I must admit I was assessed a $17 late fee for this house by Fleet when the payment was delayed in the Christmas mail rush.
I wonder why the late fee went up $10 when WA Mutal bought the loan from Fleet? I wonder why I can't just pay the bill plus the late fee the next month when I mail in my regular check without being "reported to the credit agencies?"
As I was doing taxes this year, I wondered why so many people had refinanced WA Mutual loans through another bank.
Are you surprised that I stopped on the way home from WA Mutual and enquired about refinancing the loan at another bank? I guess WA Mutual will be losing an 8% loan shortly. Somehow I would have thought that maintaining a good customer would have been more important than $37 in late fees. Maybe not.