So just a quick update on my license problem. At first I thought it would cost me about $1,200.00 to have it reinstated. Paying a fine of $500.00 to the Virginia DMV and making a downpayment of $500.00 on a judgement from Gieco.
Well it turns out after checking with DMV , that I don't have to pay the $500.00 fine but just a $86.00 re-instatement fee. So with that good news, I sent in the $500.00 to the collections lawyers office and then called to make payment arrangements. Then was told the $500.00 wasn't enough, but instead needed to pay the amount in arrears as well. Meaning I need to apply an addtional $1,600.00 as well before I can re-instate my license.
Suprisingly I'm not upset or angry, as the situation I'm in is due to my poor judgement and past mistakes.What I do feel good about is that , there is $500.00 less for them to charge me interest on. (The interest rate on this judgement is 9.0%) To make my point the judgement was entered on Jan 2001 for $3050.00 and I've incurred over $900.00 in late fees and interest! Talk about learning the hard way. I made the $500.00 payment on 02/24/09 and plan on making another payment on Friday for $400.00.I feel good paying off debt after years of ignoring it.
Another quick update.......
March 2nd, 2009 at 12:09 am
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It won't be long till the whole license thing is a mere memory ! The lessons/habits you've learned from it will keep you in great financial shape for years to come :-)
p.s. Welcome !!
March 2nd, 2009 at 03:31 pm 1236007898