Saturday, July 11, 2015

Downsizing the Store and is This Ethical?

In addition to downsizing "stuff" my sales have been not so hot plus I haven't been listing as much as previously. I got the "your store will renew on August 1st" email from eBay. After some calculations with their fee illustrator I will save about $30 a month going to the smaller store.

In addition it has been about 6 months since I received a free listing offer; I fully expect to receive more with the smaller store.

I have talked about our storage locker adventures in previous posts; last week I sold some beads and pointed them out in my Tuesday Total post. However, I have sold less than 2 dozen in a year and a half. I originally had a mixture of beads that were not part of a "set"; they sold in less than 2 days.

The last 3 days have consisted of unlisting, regrouping into misc lots of different price points and weights, taking pictures, and now getting ready to relist. I still have in total 360 of the small packages (They sell for about $8 a package on Amazon and Joannes. We started at $6 then $5 now $3.75. In these large lots we hope to get $2 a package or thereabouts.






These beads are so beautiful....I wish I was more crafty! The bead maker is local to us so my guess is the storage unit owner bought them wholesale (I hope anyway!)

Finally I have been going back and forth with this for months. In March I started calling the credit card company and telling them I won't be able to make the payments. (This was before I was even late). I have called over a dozen times each time reaching someone either completely incompetent or we don't speak the same language well enough to reach a deal.

I have spent hours and hours on the phone and am BEYOND frustrated. They are up to telling me my minimum payment is over 1K. I talked to hubby and while I have been making payments when I can they aren't much. The account is probably pretty close to collections. This last month they charged me $375 (or so) in fees and interest. Since everything we do (both business and personal) is now 100% cash based, I am not concerned about our credit score. We are thinking let it go to collections; by the time it does the office will be gone. We can negotiate a deal with them and dig ourselves out of this. However, I feel terrible letting it go to collections like I'm not ethically making the right choice. But I don't have more time and frustration to keep calling.

Any thoughts?



8 comments:

  1. Have you seen a credit counselor?

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  2. I would advise seeing a financial advisor. Letting a bill go to collections will really damage your credit score. Can you get rid of your cell and just keep a house phone? Cancel the cable or satellite? Do you still have the work van? Selling that and cancelling the insurance would help. It sounds like eBay is more stressful than profitable. I would suggest getting out of eBay for a bit after your office lease is up. Take a breather and regroup.

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  3. I agree with Erica, but Nancy has a great suggestion. We saw a credit counselor years ago. We both lost our jobs and were drowning. Seeing a credit counselor was the best decision we made. They called the credit companies and did the negotiations for us - and it didn't cost us a penny. Here is a link to some useful info: http://www.nolo.com/legal-encyclopedia/choosing-credit-counseling-agency-29794.html -- Good luck

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    1. Ms Goodwill explains it much better than I did! I saw a credit counselor too years ago when I had a lot of medical debt. It was super helpful. You have to be careful though because there are scammers out there. The link she provided explains how to find a good one.

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  4. Lots of good advice Grace, especially about taking a break from online selling.You need to eliminate stress in order to stay healthy. Ask me how I know.

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  5. Lot's of good advice here. The credit councelor will take the pressure of making the calls for you and taking a break may give you some time to regroup. I am on the verge of having to take a break from selling, too.

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  6. I saw a credit counselor years ago and eventually got out of the mess I was in. They do help..good luck! On another note, where are those beads for sale? My sister and be interested.

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  7. I remember hearing Dave Ramsey once say on his show that even if you pay a few bucks to the company, they usually will keep you out of collections. Credit counseling is okay if you find a good one. But from what I've heard, they do cost money and only do what you can basically do yourself..call and negotiate with the companies.

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