A-hole money lenders! (Rant)

[pianodoctor]

I needed some expensive dental work done costing more than my budget would allow. The dentist hooked me up with a "0%" health care loan from Chase, explaining that she (the dentist) will pay 5% to Chase to get the deal done. Fair enough. I needs my toofers and this seemed the only way.

I also have an HSA. For those who don't know, it's like an IRA but the money can only be spent on health care. You deposit the money each year (there are limits, like an IRA), and they give you a debit card for health care expenses. The HSA servicer said I can use it for this purpose.

I figured I can service the health care loan partly with some new money, and the remainder with HSA money. I figured I'd pay the first X months payments out of cash, and then the remaining Y months using up the HSA (the total amount owed exceeded the amount in the HSA). My tax accountant concurred this is the best plan.

So I called Chase to ask them how to make the payment via the HSA debit card (the bill they send me each month does not give the option). Bottom line is they won't. They don't take HSA debit cards they say. It's check, bank transfer, or nothing. They could set it up so I can make a direct tranfer from the HSA account, they say, but it will have to be done by phone separately for EACH months payment, with a $15 charge for EACH call.

Incredulous, I said that HSAs are very common, a lot of people must be wanting to pay with their HSA. That's what they are for. Nope, never heard of that, they said. I am the first I am told. Yeah, right.

A-holes.

[don]

Re: A-hole money lenders! (Rant)

As we watch the slow motion car crash of senior's lifetime savings transferred to our 'betters'.

My in-laws, hard workers all their lives, were in good shape for retired small business people when ZIRP stripped them bare. My mother-in-law's anxiety grows by the month, as the last of their 5-year CDs matures and seed corn spending grows.

They've entered the "hope we die before we run out of savings" cohort.

[KGW]

Re: A-hole money lenders! (Rant)

Our ranks grow and grow...
perhaps we will grow so heavy,
we will crush them.



(In the spirit of the "Sarariman" poems)

[KGW]

Such as this:

Cost-cutting measures
My motivation too
is cut


職安で　
Shokuan de
知った顔見た
Shitta kao mita　
あ、上司
a, joushi

[doom&gloom]

Re: A-hole money lenders! (Rant)

I needed some expensive dental work done costing more than my budget would allow. The dentist hooked me up with a "0%" health care loan from Chase, explaining that she (the dentist) will pay 5% to Chase to get the deal done. Fair enough. I needs my toofers and this seemed the only way.

I also have an HSA. For those who don't know, it's like an IRA but the money can only be spent on health care. You deposit the money each year (there are limits, like an IRA), and they give you a debit card for health care expenses. The HSA servicer said I can use it for this purpose.

I figured I can service the health care loan partly with some new money, and the remainder with HSA money. I figured I'd pay the first X months payments out of cash, and then the remaining Y months using up the HSA (the total amount owed exceeded the amount in the HSA). My tax accountant concurred this is the best plan.

So I called Chase to ask them how to make the payment via the HSA debit card (the bill they send me each month does not give the option). Bottom line is they won't. They don't take HSA debit cards they say. It's check, bank transfer, or nothing. They could set it up so I can make a direct tranfer from the HSA account, they say, but it will have to be done by phone separately for EACH months payment, with a $15 charge for EACH call.

Incredulous, I said that HSAs are very common, a lot of people must be wanting to pay with their HSA. That's what they are for. Nope, never heard of that, they said. I am the first I am told. Yeah, right.

A-holes.

ask your dentist to take the HSA, and pay the loan amount in to your Chase account. tell them if that won't work, you understand, but the next dentist will probably agree beforehand. Then get a new dentist. Or... go to a dental school if you can and get the work done cheap by students under dental faculty.