We are just watching out for our bottom line



So some time ago my father in law passed away. It came, as these things always do, at a most inconvenient time (sarcasm). In order to provide for all the needs of our relatives a loan was taken against my 401k.

Subsequently I left that employer and had to pay of the remaining loan. My wife took a loan against her 401k to do that. Not the best financial planning but ......

Now my wife attempted to pay off her 401k this month. She contacted the 401k provider and got the payoff amount and payoff date. Any payoff made before the date specified would not incur further interest. We made the payment prior to that date, and yet the company still charged her the interest amount for the following month.

We are in the middle of the battle to find out why. Im sure they were just watching out for their bottom line, hoping that we wouldn't catch this minor and insignificant additional fee.

Gee - I love modern society.

Posted: Mon - August 14, 2006 at 12:51 PM   If this blog entry was of use to you, why not show your appreciation by donating to support the site? Just click on the MAKE A DONATION button on the right hand side of the page! It's all handled by PAYPAL.
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