https://www.kalzumeus.com/2017/09/09/identity-theft-credit-r...
I recently had a non-renewal on my homeowner's insurance so I had to get new homeowner's insurance. Through a whole bunch of stuff, I wound up effectively sending three payments to two separate insurance companies. I had to float about $7000 - $8000 for a bit.
The insurance agent I had found seemed to be a bit inept, so I wasn't confident they had everything set up properly. Because when I called my mortgage company, they had no clue I was changing insurance companies. They had already submitted payment to the old insurance. I eventually found out how to pay the insurance on my own and just did that. And how to update my insurance information online. Then my escrow paid the new insurance company. So now I had three payments to two companies. And I had to pay into my escrow to cover the double payment. I was prepared to fight both of these companies to get them to cut checks back to me, but just as I was steeling myself for a day of talking to hapless customer service agents, the refund check from the wrong insurance came in. Then a week later, the refund check from the second payment to the correct insurance came in.
But yeah. I wanted to make sure I didn't have a lapse in coverage and then had to cover my escrow shortage. I technically could have waited for everything to sort out, but I didn't want to find out what would happen if things hadn't landed right.
I don’t really understand what financially competent person is using affirm. Generally when it comes to buying small nonessentials, if you can’t afford to pay for it now, the prevailing wisdom is don’t find a way to buy it, just do without.
I’m also curious to hear what the experience is like when you need to return something that was bought with affirm? Do they cancel the loan quickly? It appears their cs dept is under trained and doesn’t have the tools necessary to do a good job.
