primitive responds to letter from collection agency

[franksolich]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8119337

Oh my.

Who's been president since before February 16, 2009?

Wasn't he supposed to have this all straightened out by now?

After all, the primitives said he would.

njlib  (649 posts)     Fri Apr-09-10 01:05 PM
Original message
 
My response to a collection letter. Any suggestions before I print & mail?

To whom it may concern:

I am in receipt of your correspondence dated April 4, 2010. Let me provide you with some background regarding my outstanding balance with Bank of America.

I have been unemployed since February 16, 2009. Upon losing my job, I withdrew my 401k money and was able to make my payments, well over the minimum which can be verified by checking BOA's records, for the first 5 months or so of my unemployment. While I was collecting the maximum amount allowable under NJ state law, it is still less than half of what I made when I was working.

I don't know if you've been keeping up with current events, but the job market is dismal and our elected representatives decided a two week vacation took precedence over extending unemployment benefits to those who've completed their current tier. My tier 2 emergency benefits were exhausted April 5, 2010. Even if they approve me for an extension into tier 3, I'll still be trying to live on about 40% of what I was earning while employed.

After paying the mortgage and car payment, I'm left with about $200/month for utilities, food, car insurance, gas, etc. My house is in such a state of disrepair, it probably isn't even worth my outstanding debt to BOA. I don't have a money tree in my yard, I don't have a magic wand to magically make a mountain of money appear on my kitchen table, and I'm too old to turn to a life of crime or the world's oldest profession. Now, what do you suggest I do?

BOA can reduce my outstanding balance to 40% of the current amount, which is probably closer to what is actually owed if the ridiculously high interest/penalty fees are deducted, and we can set up a payment plan. BOA can calculate what was my personal percentage of the TARP funds they received and apply that towards the outstanding balance, which I'm sure would be more than enough to cover it, and then refund me the difference.

My personal preference would be for BOA to find me a job that pays a decent living wage, maybe CEO so I could earn millions in salary and bonuses.

I am honestly at my wit's end and don't know what BOA and every other loan sharking, blood sucking financial institution expect people to do.

I am sending a copy of this to BOA and look forward to something other than a form letter in response.

Thank you.

So, is this OK to send?

If I were a primitive, I'd send it.  Air mail special delivery certified mail.

Ian David  (1000+ posts)        Fri Apr-09-10 01:10 PM
THE SKUMBAG PRIMITIVE, #14 TOP PRIMITIVE OF 2009
Response to Original message

1. Don't even HINT that you're thinking of walking away from the mortgage or defaulting. 

If you're going to walk away or default, then get legal advice and just do it.

That's the sort of thing you want to do o YOUR terms and YOUR timetable- you don't want them to foreclose or harass you on THEIR schedule.

Also, I wouldn't tell them your home is in disrepair. They might accuse you of intentionally damaging "their" asset.

Otherwise, this looks good to me (although I am not a lawyer, nor do I play one on TV).

elleng  (1000+ posts)        Fri Apr-09-10 01:11 PM
Response to Original message
 
2. Its great, and I'd send it WAY UP at boa, not just collector.

As its so good and affective, I'd delete loan sharking/blood sucking stuff. You've gone SO FAR with civility, I'd suggest keeping that tone.

joeybee12  (1000+ posts)      Fri Apr-09-10 01:12 PM
Response to Original message
 
3. If this is your first letter, I wouldn't put the blood-sucking part in...

...play nice and see what kind of response you get, then ratchet up the rhetoric if need be. Good luck.

HopeHoops  (1000+ posts)      Fri Apr-09-10 01:15 PM
Response to Original message
 
5. I'd change the "blood sucking financial institution" part to...

..."****ing asswipe blood sucking dildo-headed financial mafia". But that's just me.

grasswire  (1000+ posts)      Fri Apr-09-10 01:16 PM
THE FARMERETTE UP OVER THERE IN WISCONSIN
Response to Original message

6. after you fix it...

...I would also send it to your local news reporters and your U.S. Representative. At the bottom of the letter, indicate that you are copying it to those people.

Leverage, baby, leverage.

walldude (1000+ posts)        Fri Apr-09-10 01:16 PM
THE NOW-SELF-EMPLOYED WALLPAPER PRIMITIVE
Response to Original message

7. From experience... 

Pull out the "insults", might make you feel better but does no good. I also agree with the poster above who said to remove the part about the house being in disrepair, you don't want to give them any ammunition...

njlib  (649 posts)     Fri Apr-09-10 01:17 PM
Response to Original message
 
8. Sorry, I should've clarified...

This is regarding a credit card debt of $5,900 and has nothing to do with my mortgage, which gets paid every month with an automatic deduction from my checking account. My mortgage payment history is spotless.

I mentioned it just in case a lien would be their next step...and yes, good points about the blood-sucking reference!

Greyhound  (1000+ posts)        Fri Apr-09-10 01:18 PM
Response to Original message
 
9. If you send this you will likely regret it. 

Nothing you wrote compels any action on their part and gives them evidence to use against you in what appears to be an inevitable court case.

Please talk to an attorney before taking any actions. The laws are stacked heavily against you and this kind of written evidence only serves them.

No, no, just mail it as it is.  It's a great primitive letter.

pinboy3niner  (185 posts)      Fri Apr-09-10 01:20 PM
Response to Original message
 
10. One thought . . .

You might close with a statement to the effect that you are very interested in working with them to achieve a resolution that is mutually satisfactory.

No, no, just mail it as it is.  It's a great primitive letter.

asjr  (1000+ posts)      Fri Apr-09-10 01:20 PM
Response to Original message
 
11. Leave that letter as it is. That is the best letter I have seen in ages. Absolutely made my heart soar!!!

Yeah!!!  Send it, baby!!!

Bluebear  (1000+ posts)        Fri Apr-09-10 01:21 PM
Response to Original message
 
13. Change "My house is in such a state of disrepair" to "My house is not worth what I owe on it" so they don't claim that you wrecked "their" house.

CountAllVotes  (1000+ posts)      Fri Apr-09-10 01:23 PM
Response to Reply #13
 
15. I'd leave the house out altogether

it has nothing to do with the $5,900. credit card debt which is the issue.

Cronus Protagonist  (1000+ posts)      Fri Apr-09-10 01:22 PM
Response to Original message
 
14. Print it and burn it

From someone who used to work at BofA, so take it for what it's worth. There's nothing in there that will produce any results, but if it makes you feel better, print it and hold a burning ceremony. There's no sense in putting something in writing that could come back and bite your ass later. If you eventually are able to get a loan modification, this letter would not be an asset. For your own good, don't send it to anyone at BofA.

No, no, no.  Send it.  It's a great primitive letter.  Send it.  Right now.

[AllosaursRus]

Me thinks said DUmmie has defaulted on a credit card, not the mortgage. For a while there a couple of years ago I was getting an offer from BofA for a credit card at 5% with a credit limit for 5 grand every month! I finally told them I had all the cards I needed and to please take me off their mailing list.

Ya think this NewJerkyLib maybe took the money and ran? Now cannot keep up because it was living week to week even before unemployment?

If ya spends more than ya make, this is what happens, Jerky!

[The Village Idiot]

lol.

Fight on, DUmmie!!

[NHSparky]

Is this their idea of "speaking truth to power?"

[JohnnyReb]

Leverage, baby, leverage....now there's a fact. It takes a lot of leverage to get a DUmmie off his ass and into some type of productive action.

[SSG Snuggle Bunny]

I don't have a money tree in my yard, I don't have a magic wand to magically make a mountain of money appear on my kitchen table, and I'm too old to turn to a life of crime or the world's oldest profession. Now, what do you suggest I do?

Yes, because only the government and rich people have those.

You have an obligation to pay your debts because the money loaned to you came from some other working stiff's deposit.

[AllosaursRus]

Yes, because only the government and rich people have those.

You have an obligation to pay your debts because the money loaned to you came from some other working stiff's deposit.

Way too many DUmmies thought during the almost free credit boom, it was free money. They did treat it like a money tree!

I think this is the consensus around here DUmbass!

[USA4ME]

Oh man, that whole thread is a gift wrapped prize!!  Great find.

This was funny:

Greyhound

.... gives them evidence to use against you in what appears to be an inevitable court case.

Inevitable court case?  Over a $5900 credit card debt??  Not in this lifetime, dimwit.

Primitive njlib, being that you are a NJ lib I automatically know you're about as stupid as it gets.  Let me fill you in on your best bet.  This is going to show up on your credit report as deliquent and the outstanding balance will be reflected.  IOW, should you go to buy a car or some major appliance that requires installment payments, or should you wish to apply for another mortgage either on your existing home, an investment property, or if you sell the current home and try and buy another, this chargeoff will severely hinder you being able to acquire credit, or prevent it all together (in the case of a mortgage).  Best thing for you to do is to call the credit card company and see if you can get them to take a reduced lump-sum payment to make it all go away.  Try telling them you'll pay 25% of the balance and negotiate from there.  After a year of it being a settled deliquent account with a zero balance, you'll be OK.

Or better yet, just send the letter.

.

[GOBUCKS]

What a great letter! The DUmmy should send it by all means, as quickly as possible. There's no doubt it will cause a huge stir at the highest levels of Bank of America. The DUmmy will likely get a quick, apologetic response from people in authority at both the collection agency and the bank. It's well known that collection agencies will normally forgive a debt if they realize the debtor is having trouble making payment. And Bank of America will be worried about the possibility of losing DUmmy njlib as a return customer. There will be all kinds of high level meetings to brainstorm ideas on what they expect people to do. It's doubtful the DUmmy will be offered a CEO job, but a zero balance and a clean credit history would be a nice start.

[DumbAss Tanker]

Sounds like BOA should sue, get a default judgment when dipshit doesn't show (Or win in ten minutes if he does, and ask for all additional court costs) and slap a lien on the idiot's house for everything.

[AllosaursRus]

Sounds like BOA should sue, get a default judgment when dipshit doesn't show (Or win in ten minutes if he does, and ask for all additional court costs) and slap a lien on the idiot's house for everything.

It doesn't even go to a collector until you're already waaaaaaaaaay behind! I doubt B of A is going to give a rusty!