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Quick background: this SC bought his house about 2 years ago, and we financed the mortgage. About a month later, he realized the house needed some repairs, so he took out a small unsecured loan. Since he bought a small house, and housing prices were (and still are) low in the area, the payments for the two loans total only about $500. He set up automatic payments out of his checking account with us.
Today, the second loan went past due. I called him and explained the situation.
Me: Your second loan is past due. There's not enough in your checking account to make the payment.
SC: But I only deposit $400 every month.
Me: <suppressing a sigh> In previous months, you've had enough of a balance to make both payments. This month, there wasn't enough. (In fact, he was overdrawn at the beginning of the month before he made his $400 deposit, but I didn't bother to mention that.)
SC: Ok, well, I can make a payment next Thursday.
Me: Ok, I'll make a note.
I looked at his checking account. Technically, I suppose, he only deposits $400 at the beginning of each month in the checking account, but he has also made other deposits at various times that have brought his balance up enough to make the payments. He and his wife also make various purchases throughout the month that often draw the checking account down to near $0. Funny enough, this month, they had several payments go to ChatGPT and Midjourney subscriptions.
It sounds like this guy is one of those customers who never looks at his statements. He'll probably try to blame his wife for overdrawing their account. But if he doesn't look at his statements, some of that blame goes to him.
Today, the second loan went past due. I called him and explained the situation.
Me: Your second loan is past due. There's not enough in your checking account to make the payment.
SC: But I only deposit $400 every month.
Me: <suppressing a sigh> In previous months, you've had enough of a balance to make both payments. This month, there wasn't enough. (In fact, he was overdrawn at the beginning of the month before he made his $400 deposit, but I didn't bother to mention that.)
SC: Ok, well, I can make a payment next Thursday.
Me: Ok, I'll make a note.
I looked at his checking account. Technically, I suppose, he only deposits $400 at the beginning of each month in the checking account, but he has also made other deposits at various times that have brought his balance up enough to make the payments. He and his wife also make various purchases throughout the month that often draw the checking account down to near $0. Funny enough, this month, they had several payments go to ChatGPT and Midjourney subscriptions.
It sounds like this guy is one of those customers who never looks at his statements. He'll probably try to blame his wife for overdrawing their account. But if he doesn't look at his statements, some of that blame goes to him.
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