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Now that we do not have anyone who is terminally ill in the family, we do not have call waiting. We're not real big phone people anyway. When I had it, I would tell the first person "hang on, I've got call waiting" and see who the scond call is and ask if I can call person #2 back when I have finished call#1.
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I'm living with my parents and they have call waiting with caller ID. If it's a call I need to take, I'll tell the person I'm on the line with that I'll call them back. I don't put people on hold to take a call.
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I don't have it and I hate it... EXCEPT that it is GREAT in an emergency (provided the person answers it). We do have a rule in our family that is if we are put on hold and they don't come right back, we hang up that that person calls you back.
Caller ID I hate too, never have had it, don't want it either. I have had people call me saying "You called here? Who are you and what did you want?"... After assuring them I did NOT call that number and arguing with them about it, I ask "Are you SURE you even dialed the RIGHT number that you saw on your caller ID?!!!"
This happened at my Mama's house the day I went to tell Mama my brother had died and I KNOW there were no calls made on that phone that day by me OR my Mama.... Grrrrrr! (to me that is extreemly RUDE to call and ask "who are you and what did you want?")