Books

  • Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.


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August 2010

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I have been using online bill pay for years now. It has really helped me in my journey to become debt free. I am nearly there, so check out my progress below.

Slave To the Lender Blog
http://slavetothelender.blogspot.com

Excellent blog! Thanks for stopping by. I agree that online bill pay is a great tool for consumers struggling to overcome their debts. Unfortunately, the changes BofA made to their online bill pay service last month have turned it into more of a liability. I'm going to find a bank that does online bill pay right and move my accounts there.

Here is the text I just sent Bank of America. I am really upset about this change. If someone finds a better banking solution, I'd like to know about it. -----
The new bill pay features just implemented are a great inconvenience. I used to be able to use the online account register as an up to date and accurate reflections of the transactions I had initiated. Everything was integrated in one place. Since now some checks will not post until cashed, I cannot depend on the balances on your site. I am in the process of converting all my banking transactions to QuickBooks so bills paid through online banking will automatically post to a check register within Quickbooks. On your sight, there is no way to easily view a group of pmts to see which ones are still "open" and not posted to the bank account. One has to click each one individually. I feel like we’ve taken leaps and bounds backwards in this electronic age. Additionally, the timing of such a change during tax season is incredibly short sighted and troublesome.

This is incerdible! Bank of America has done it again! Issues like this can lead to troubled credit problems as well. I have found this site to be helpful in clearing those issues http://www.brokencredit.com

I couldn't agree more. See my blog:

http://thecanes.blogspot.com/

Same exact conclusion as you (I just posted today). Let's do something about it (write a letter)!

I am so glad to see I am not the only one who is heart broken about this change- what is BOA thinking? I have been with them sine 1985-But I think its time to move on.

I am feeling the same way as you. I don't understand it. When I spoke to BofA today they said they made those changes because other people were complaining about the old way. I incured about $350 in overdraft fees this month all on the same day because I thought the money was swept out of my account and it wasn't. The money was still sitting there and I transferred it to a savings account.
I just opened up new accounts at Wells Fargo. They have assured me that the funds will be withdrawn from my account on the day after my scheduled delivery date. I hope they aren't full of it.

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