Author Topic: Your most hateful creditor  (Read 783 times)

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Flyingifr

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Your most hateful creditor
« on: September 28, 2017 11:40:54 PM »
I thought it might be fun to start a discussion of OC's who went out of their way to make us hate them. Not CA's or JDB's - that's their job. I'm talking about OC's only.

It's OK to mention OC's names, but keep info about yourself vague if there is any chance this may come back to bite you. I'll start - I have 4 examples:

Who do I hate? Let me give you the list and why.

Amex - in the 1960's I was in High School and my father stole my identity, opened an Amex card in my name, used it and stiffed them. 50 years later and Amex still will not give me a card because of that. Never mind that I was a child then.....

Citibank - if ever a Bank from the Nether Regions existed, they are it. In the 1970's I had a savings account and a credit card with them. I lived in New York City at the time. One day in the mail I get a letter from Citibank telling me that they no longer do business with non-residents of the USA and attached was a check for about $6 which represented what was in my savings account minus what was charged on my credit card. **bleep**? I was born in Brooklyn, NY just across the East River from this bank. Citibank had revoked my US citizenship.

First Bank of New York (gone now, thank God) - I took the $6 check from Citibank to them along with about $250 in cash and my next paycheck and opened a savings account there. They required "signature verification" which means my old bank (Citibank) was asked to verify that I am who I said I am and that my signature matches the one they have.  Six months later, my balance is in the thousands and I want to take about $50 out of the bank - my first withdrawal. They won't let me do it. Why? Citibank never returned the signature verification!!!! I told them to now close all my accounts (I now had three accounts) and just give me the cash. They did it for the two newer ones but refused to do it for this account. I told them I am not leaving without my money and they can call the FBI and explain to them why they won't give me my money. I eventually got the money and left and my bank became a coffee can in my freezer for the next three years.

Chase - They started my own personal credit crisis in 2007. I had a card with them that was at 10% utilization, no late payments ever on anything. All of a sudden on my bill there is a notation that they reduced my CL to my balance plus $50. As I continued to pay it down, they balance-chased me right down to $0. That shot my utilization from 10% to 95%. That dropped my credit score and Wells Fargo, Bank One, Harris Bank, Discover and Bank of America all followed suit in Balance Chasing. That tanked my scores completely and Wells Fargo closed my HELOC. This all took 5 months to happen and 8 years to recover from. Now you know why I created Debtorboards. Now you know why I hate all lenders.
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

I think of a telephone as a Debt Collector's crowbar. With such a device it is possible to pry one's mouth open wide enough to allow the insertion of a foot or two.

Debtors Exams are the perfect place for us Senior Citizens to show off our recently acquired Alzheimers.

Founder of the Credit Terrorist Training Camp (Debtorboards)

credit_h

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Re: Your most hateful creditor
« Reply #1 on: September 29, 2017 02:42:52 AM »
That tanked my scores completely and Wells Fargo closed my HELOC. This all took 5 months to happen and 8 years to recover from. Now you know why I created Debtorboards. Now you know why I hate all lenders.

Isn't that illegal? I recall a few banks were hit with class action lawsuits for closing people's HELOC. We even got a settlement from our lender as part of the class action even though we missed 2 months of payment and the closing was legitimate.

Bubbles

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Re: Your most hateful creditor
« Reply #2 on: September 29, 2017 06:58:12 AM »
I guess what comes to my mind isn't specifically credit related, but this experience:

First time ever credit problems. One day the home phone started ringing non-stop from Chase. Unplug phone from wall. Went in to relax, watching something light on cable TV, but there were non-stop text messages that Chase was calling. (Cable TV and phone with same provider.)

Closed land line phone service. That also fixed problem of constant text messages on TV.

Haven't had a land line since.

And before long, put up an antenna for TV, the way God intended.

delandra

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Re: Your most hateful creditor
« Reply #3 on: September 29, 2017 03:24:12 PM »
Visions Federal Credit Union in Upstate NY.

Why do I hate them?  They behave more like a "too big to fail" national bank than a regional credit union, with fees on top of fees.  My favorite fee, as a new account holder, was $6.00 for using my debit card "too many times in a month."  Err, excuse me???

Why did they earn my entry in this thread?  When I ran into trouble, as a young man, and defaulted on my debts, most of my OCs (big names, like Capital One and Bank of America) were fairly professional about it.  Yes, they sent CAs after me, and BoA sold my debt to a succession of JDBs, but that was just business, nothing I took personally.

Visions had their scumbag local attorney call my elderly Mother, demand my contact information, and threaten to put her into jail when she refused to give it to them.  He sent a PI to her house, doubtless to look for me, and the guy made a big show out of being seen by her, trying to intimidate her.

All of this over a $1,400 installment loan!

It finally provoked me into calling him -- which I'm sure was his intent -- whereupon he tried to tell me that my forthcoming Chapter 7 didn't apply to Visions, because they're a Credit Union, and you can't include a Credit Union in bankruptcy.  If you try, it's a Federal crime, and you'll go to jail, so why don't we work something out now?

If I knew then what I know now that dude would have been writing me a big fat check.  As it was, I knew enough to know he was full of it, but I did not know I could go after him for these lies.

So yeah, Visions can drop dead, and my only regret is I didn't owe them MORE money when I filed.

BrokeBob

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Re: Your most hateful creditor
« Reply #4 on: September 29, 2017 03:36:45 PM »
I have plenty on the list.

There are two where I managed to get some revenge.

First, a local Credit Union in Madison, WI.  They foreclosed on a rental property I had.  I tried a short sale, but they rejected the short sale, and foreclosed on the place. 

Revenge was twofold.  First, the place sat empty for six months, and finally sold for $10k less than the short sale price we offered.
Second, they messed up the forms.  Even though in their filing they said I would not be liable for the difference (they can foreclose in half the time in Wisconsin that way), they put I was liable for the difference in the forms.  That wound up costing them a few thousand in taxes, and saved me a few thousand in taxes.  Later, when I worked in the banking industry, I had to prove they made a mistake, and they fixed it in the credit reports and wrote me a letter.


Another where I got revenge, the "Australians".   
Around the time my wife and I defaulted, we had to very quickly change phone providers.  We had VOIP, and the local tower was on a water tower.  Amazingly, the water tower caught on fire, and we lost our service.  To change faster, we had to change our number.
The "Australians" decided to do some illegal skip tracing, and made my wife think her account had been hacked.  All that just to show we were still at the same address.  A few years later, I took them and the Z crew to arbitration.  NDA, so I can't tell you how that turned out. 

Flyingifr

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Re: Your most hateful creditor
« Reply #5 on: September 29, 2017 07:41:22 PM »
Isn't that illegal? I recall a few banks were hit with class action lawsuits for closing people's HELOC. We even got a settlement from our lender as part of the class action even though we missed 2 months of payment and the closing was legitimate.

At the time it was not illegal.
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

I think of a telephone as a Debt Collector's crowbar. With such a device it is possible to pry one's mouth open wide enough to allow the insertion of a foot or two.

Debtors Exams are the perfect place for us Senior Citizens to show off our recently acquired Alzheimers.

Founder of the Credit Terrorist Training Camp (Debtorboards)