Losing Interest In Gaining Interest

Another bill. The 407-ETR is now at $724.54. $13.91 in interest added this past month on an amount for which I have no responsibility.

That’s 23.5% over 12 months, Simple Interest.

But the 407-ETR compounds the interest.

In 12 months time they’ll be racking up another $186.12 in interest charges. That works out to a Simple Interest rate of 26.2%.

As long as the 407-ETR believes that it will receive payment on a bill, it is in their best interest to argue the case for as long as possible, hoping that you, poor consumer, will break down.

Remember always that the 407-ETR have a vast army of clerks, accountant-types, and lawyers ready to escalate whenever you are ready.

The time will come when you throw in the towel against a small and cohesive army of clerks. Then the 407-ETR will reap the returns on its investment.

I doubt that you will find a bank or credit union offering 26.2%

What to do?

Make a decision, today, that you will not, no matter what, pay the disputed portion of any 407-ETR bill.

Make them pay for the calculations and foot work.

Use every available free source of support - your local MPP, and colleagues in your work environment with genuine experience and ability.

Remember, always, the 407-ETR wants to drag out the complaint. It’s one of their primary sources of revenue.

It’s called milking the cash cow.

And you’re it!

18th December 2008

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