Examining Things
I was examining one day a financial statement from a mortgage servicer to a friend. We were trying to figure out where all the money went. I bought a car once and was trying to figure out why an $11,650 purchase added up to $16,324 out the door, and I was reading down the window sticker to see where the money went, and sure enough it was all clearly understandable in about five minutes. Naturally this was before America had even imagined having a CFPB, or 18,000 pages of regulations governing the purchase of an Oldsmobile. I don't think we even have Oldsmobiles any more. We encountered a lot of Code 168 Property Preservation, going back a few years. We were not aware at the time that our bank was helping preserve our property, although we would have certainly appreciated the assistance the time the icemaker sprung a leak and we had to quickly find the little chinese connection and get it replaced. An extra hand taping and painting is always welcome, but we recalled that we were the only property preservers on hand that day. Code 633 covered miscellaneous foreclosure and bankruptcy expense, and some of these charges were very prescient, as we had experienced no foreclosure or bankruptcy at the time. Actually, we were experiencing miscellaneous expenses, but we were very aware of who and how much, and were certainly unaware of our mortgage servicer in coral gables having his own expenses. Our trustee was also unaware, when he became involved much later on. Code 632 were charges for attorney advances. It appears we were being charged for a batch of attorneys, without a letter of engagement or a judge's order, the only two ways an attorney gets paid. We certainly don't know what these attorneys were doing, or where they were doing it. Attorneys don't work cheap, that much we do know. There were also some Code 630 attorney advances, obviously specialists. Code 766 covered miscellaneous repayments. We were trying to figure how many miscellaneous things we bought that year, or if we were still paying for the miscellaneous stuff. I remember my Oldsmobile had a lot of stuff added on, but even Generous Motors never attempted to market miscellaneous stuff. I'm sure they consulted with their lawyers if it were possible, and I'm sure their lawyers cautioned them properly. We also had some Code 601 Miscellaneous Corporate Disbursements. Code 745 went to Corporate Advance Adjustments and Code 147 went to Misapplication Reversal. There seemed to be only 766 categories of extras, and we were not charged any 400s or 500s so we fed everything we knew in the computer and started to compute them all up. Our computer crashed.
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AuthorDave McCrae is a retired engineer now settled in Oatmeal, Texas. I trained as a nuclear physicist and for a brief time was able to hold positions operating a small cyclotron, a large computer (CDC-6400 BITD) and as a medical researcher. After a weekend in Cleveland, and learning to weld, I left academia and joined Clan MacRae, constructing large buildings, setting complex machinery, devising manufacturing processes, and operating deepwater submersibles. I had too much fun, and made too much money. The cyclotron was kind of quaint, punch card computers are pretty much extinct, and we still have issues with cancer. Archives
November 2018
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