Pros and Cons of Pre-paying Big Bills? (mortgage) : LUSENET : TimeBomb 2000 (Y2000) : One Thread

I am wondering what you all think about pre-paying some of the big bills? For example, I was considering pre-paying several months of our mortgage, health insurance, credit debts etc.

If TSHTF, will it matter? Would that money be better spent on wheat? If a BITR, will it be wise? I am interested in your pro and con opinions in this matter.

Thanks to all contributors, I have learned so much from you all.

-- Mommacares (, July 01, 1999


p.s. My email is real but you have to remove the X (spam probs)

-- Mommacares (, July 01, 1999.

My opinion is that things are going to be so screwed up after 1/1/00 that it will be months before creditors even notice that you are not paying your bills, and years before they will be in a position to do anything about it.

-- Not me (Who's@asking.?), July 01, 1999.

My home is paid for, but I would not prepay anything.

-- Carol (, July 01, 1999.

Actually, I work for a financial services firm.

Bet on getting a statement, and bet on having to pay it.

We've been working full time on that for several years.

Many banks can't operate for more than a week without processing payments.

They'll notice.

-- JAW (, July 01, 1999.

momma, not only should you pre-pay all your bills you should make me a loan of...oh, lets round it off to $50,000. i'll pay you back right after the 1st of the year. don't worry we will draw up the loan agreement and store a copy of it on my mainframe. its the same system and software the irs uses.

an honest kiss to seal the deal,

-- corrine l (, July 01, 1999.

Corrine 1 you are SO wierd....

(yeah I know, don't feed the trolls)

chasin' the cat...

The Dog

-- Dog (Desert, July 01, 1999.

I've been thinking about this as well. At the moment, I'm inclined to get that money as cash, and see how things shake out after the rollover. Unlike "not me", I'm not so certain that the banking/financial system will go into a total collapse, and having that extra money in cash gives you more options and flexibility. If things do go Infomagic, the cash may provide (at least in the beginning) some much needed leverage. If it's a BITR, then use it to pay bills.

-- Bob (bob@bob.bob), July 01, 1999.

Say you want to pay bills after 1/1 and the banking system is up. Will the P.O. be operational? Does anyone know?

-- Mara Wayne (, July 01, 1999.

thanks dog. having read your numerous posts i accept your proclamation as the badge of honor i'm certain you mean to bestow. if i live to be a million i'll work till my dying day to live up to this esteemed recognition.

ruff, ruff you cudley c

-- corrine l (, July 01, 1999.


The banking/financial system will NOT HAVE TO go into a total collapse for what I said to be true. It will only take a 3 or 4 fold escalation of problems in an already overloaded, stressed, and malfunctioning infrastructure/economy to result in the months of confusion/years of litigation scenario. However, if total collapse happens, the slate will be wiped clean. Unfortunately, few of us would survive to enjoy it, and it would really not be that enjoyable!

-- Not me (Who's@asking.?), July 01, 1999.

Gosh, Corrinne, maybe you could store all of my tax backup files on your mainframe too?

I'll take your deep water well and generator as collateral on that loan. Hugs and kisses you silly goose

-- Mommacares (, July 01, 1999.


FWIW, my plans include paying real estate taxes in advance in case the town tax system breaks, and to make the payment early enough in advance to have the cancelled check back this year. I don't want a lien because they can't process payments next year. While at it, I'll probably pay a few months of phone electric bills in advance also. This does not work with credit cards; if you don't pay the whole thing off, the next payment still comes due the next month.


-- Jerry B (, July 01, 1999.

I plan on pre-paying my RE taxes this summer, when I have the money- rather than storing the cash in the bank- am concerned that when I try to withdraw several thou to pay it- there may/may not be limits set on that at the end of the year- and would rather pre-pay than have that cash around. Otherwise- the mortage is paid for- and just want to have phone/propane, etc up to date- but am not pre-paying otherwise. If I had a mortage- with other than a private sale- I would pre-pay if I could I think...

-- farmer (, July 02, 1999.


who told yu about the well and generator. that was to be a special secret.

-- corrine l (, July 02, 1999.

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