Betty The Restauranteur

[Argabarga]

I'm a firm believer in never attributing to malice what might be incompetence, and this is a prime example, yeah, you can attribute all kinds of nefarious motivations to her behavior, but, it's just as (if not more) likely that she's in so deep with so many creditors and is so numbed to people telling her "last chance" that cavalierly throwing around wads of cash at this open hand and that open hand in the hopes of making it all go away is just how the world works to her at this point.

[Tama]

I guess this is what I get for wanting to believe the best in people

When will I ever learn?

[mhkohne]

So a couple things happened this week.

She wanted you to make an assumption so she could contest things later. Your calling to confirm foiled her stupid plan.

[eltf177]

To me it sounds like, for once, Betty's trying to be responsible. And failing. She has no idea just how deep the problems are and whatever she inherited isn't going to be enough to dig her way out.

And not paying her insurance on time IS pure Betty, so all bets are off at this point. I still see foreclosure in Betty's future, she's just put it back again for a little while...

[Shyla]

How strange. I guess this is the inheritance? And then to just leave it on your desk with no instructions. Odd behavior, even from this woman.

[Ghel]

Tama, please tell me that was sarcasm.

I don't consider either of those latest things to be responsible. Yes, paying down the principal is good, but we'd rather have had her pay down the restaurant loan instead of the home loan. But leaving a check in the middle of my desk, in the lobby, where anyone could have found it, without even having her name on it or the envelope, made out to the bank... not responsible.

Also, paying the insurance premium at least two weeks after it was due (and expecting the insurance company to accept it) is not responsible.

[Tama]

Wow, Betty is being responsible. How long will this last?

She must know she's in deep shit and is in saving-this-mess mode. Probably will change back after she relaxes or things cool off..

[Ghel]

So a couple things happened this week. On Monday while I was gone to lunch, a money order appeared on my desk. It had no name, just a note on the envelope addressed to me to "take care of this and send a receipt to the house." $35,000.00, just left on my desk, with no instructions of what to do with it. It's a good thing I'm not an unscrupulous person. After the last of the tellers got back from lunch, I found out Betty had left it on my desk, but she hadn't given the tellers any instructions, either. I called Betty, and she said she thought I'd know that she wanted to pay down her house loan. (No, I can't read your mind.)

And then today, I received a letter from MN Fair Plan stating that they'd received the premium payment for Betty's home insurance, but since it was after the due date, they'd already canceled her insurance. They returned the premium and said if she still wants homeowners insurance, she'll have to start the process from the beginning. For a third time.

[eltf177]

I've created a new post in Sightings for earl colby pottinger about my inheritance story...

[taxguykarl]

Wow! Now ifwhen the IRS .... get their money...

Never underestimate the IRS in that area. They have their ways
As for employees, IIRC, Betty was cashing their paychecks out of the till...remitting withheld taxes was another story

[Ghel]

How soon before this happens again, though?

It could be pretty soon. As I mentioned upthread, people who get large sums of money tend to spend it pretty quickly, with little to show for it. And especially someone like Betty, who sucks at handling money anyway. And gambles.

Betty and her husband mentioned wanting to pay down the balance of their loans when they received this inheritance, which they haven't done. I can't say I'm surprised.

And what else is she in trouble for right now?

The restaurant loan is in good shape right now, but their home loan is not so good. Their first payment on the balloon renewal that I did isn't due yet, but I'm disappointed they didn't at least make their first payment when they got the inheritance money. Also, they haven't paid the first half of the real estate taxes on their house, which were due May 15, and there was the insurance debacle that I mentioned previously.

And besides the trouble with our bank, Betty still has multiple state and federal tax liens listed on her credit report. I'm sure she isn't taking care of those. She continues to have money taken out of her checking account by the IRS, but I'd be willing to bet that's current tax withholding and not paying back the earlier amounts she owes.

[sstabeler]

And how much interest is Peter charging now that Paul is paid?

I'm not so sure. the fact that betty has actually paid off the real estate taxes makes me wonder if Betty is just ridiculously disorganized, and is now trying to find a way out of the hole she's dug for herself. yeah, I'm an optimist, but if Betty really IS trying to get this sorted out...

[Jetfire]

And how much interest is Peter charging now that Paul is paid?

[Tama]

How soon before this happens again, though? And what else is she in trouble for right now?

[eltf177]

Wow! Now if the IRS and her employees get their money...