So I got a certified letter from WAMU a few days ago. I was not at the office when the letter carrier came by, so they left a notice saying I could pick it up at the post office.
At The Post Office
I go into the post office today, and hand the lady the notice. She goes to the back, and brings back a letter from “risk containment”. I can see the letter in her hand, and it looks just like one I got last week just in the normal mail.
As she is about to hand me the letter, she notices that there is no postage on the letter. WAMU didn’t put any postage on the letter!
“oh…they forgot the postage. I can’t give this to you unless the postage is paid. (the letter is literally 5 inches from my hand at this point)”
“How much is it”
“$5.30″
“oh, frack that (ok, I didn’t say that out loud, but that is what I was thinking). No thank you.”
What a waste of my time standing in line at the post office. I already got a copy of that latest letter at my home address. Silly WAMU. I can’t waste 5 bucks right now just to get a letter you forgot to put postage on.
The House
“Sold” sign went up on the house today! Looks like everything is on track. I’ll be glad to get the house debt out of the way and be able to focus 100% on the rest of it!
{ 5 comments… read them below or add one }
wamu is shit.
Congrats on the short sale. That’s a significant step forward for you. I look forward to hearing how your latest business ventures are faring.
How much of your debt will be taken care of by the house? Or is the 300k+ not including what you owe on the house? I’ve been so impressed with your determination. Best of luck to you!
The 300K+ is not including any house debt. I’m also assuming that I will have no tax liability on the forgiven debt due to insolvency. We’ll see.
Above all other creditors, keep the IRS top priority. From what I understand, they’re the most ruthless.
It’s easy to set up a payment plan with them. Set one up, do an auto-draft every month and pay extra as you can. It’ll take time to get paid off, but it will keep them off your back.
And, if I were you, I would put together a business plan for expanding your business and shop it around to some angel investors. It may be difficult to gain people’s confidence, as honesty requires full disclosure of your personal situation. But, if you can set up a corporation, LLC, etc. then you that will help protect your investors.
If you can get investments in very minimal amounts and kick start the expansion of your business then you could dig yourself out much faster and the investors could make a reasonable return as well.
In your business plan, provide details about what you learned with your current business: start up costs, operating costs, sales efforts, return on investment, etc. If it’s a solid business and a smart investment, I think that, with the right legal structure in place, a smart investor might feel comfortable providing a small amount of capital.