How come BofA has not come a knockin'?

[TeacherMomma]

My BK7 was dismissed in September, and still B of A has not started collection activity. It is not listed as a charge off, or anything like that on my credit report - it is listed as closed and included in/discharged in the CH7. What gives? I assumed that the day Chase and AMEX started calling that they were soon to follow, but that was back in October and nothing.

I am settling with AMEX this month, and am prepared to settle with BofA and Chase too - but BofA has not made one shread of contact in any form.

Any experiences with this?

[DeadManCrawling]

BoA has many concerns. None of them are in order, none make sense. What would be priority to you and me is lost in their seven circles of corporate stupidity.

I am sitting on a house that was worth 600k and have not paid in over a year. My attorney says I could still be waiting in two years. These clowns have no idea what they are doing. I guess, in your case, that is a good thing, right?

I actually played their departments against each other for a while. I would periodically contact the loan retention people and fill out mod paperwork, then fax it to the foreclosure department. THis caused no end of grief between 4-6 people and a couple of supervisors. I thought I was buying time. Turns out, it wasn't necessary. Not only is the head unaware of what the ass is doing, the head is unaware there IS an ass.

Simply beautiful corporate environment I am sure. And people say no one screws it up worse than the government. BoA presents a newer, loftier, goal to attain in the realm of mismanagement and general tomfoolery.

They get my vote for most impotent corporation in world history.

Best,

-dmc

[TeacherMomma]

Thanks for the insight. I am not sure if I think it is a good thing or not.....if they KEEP reporting it as IIB, and then along the way to buy a car or a house it gets realized, then that isn't so great. I am ALMOST inclined to approach them to settle since I will have the funds to settle for 10 percent, which is what Chase and AMEX have offered. I never got such deals BEFORE I filed, only now do I get them. I tried to settle prior, but no. So anyways, I am just worried leaving it alone will come back to bite me somehow.

[aces67]

They may just not realize what's going on yet. I had a similar problem with HSBC. Sometimes once they receive the initial Ch 7 Filing they don't look at anything after that.

[catleg]

I think BofA would have trouble finding their butt with both hands.

Have you tried looking at your claims register from your bankruptcy case on Pacer to see if the claims have been transferred to someone else? Might at least give you a clue as to who to contact.

I've noticed a number of my OC's have sold debts, and on my credit reports it says 'purchased by another lender', but not by whom, and the only way to find out is to check my bankruptcy case claims register.

I'm not sure if it'll be easier or harder to work with a debt buyer, but you might be careful in contacting them as you don't want to self-incriminate if they sue you later. I think their normal M.O. is to sue just before the statute of limitations expires.

[momisery]

We need to toss in Wells Fargo too... After having them lose my paperwork for a short sale three times, my realtors 3 times our buyer was exhausted and walked. Let that happen to you twice, and then start working on a D.I.L. with them. You will simply go crazy. We would call and no one knew a thing on the DIL, then suddenly they were reviewing it, and suddenly it was not even there? Once we filed, WF called and wanted us to work out a deal where we pay 1800.00 and have a DIL... AHHHH I am doing a BK and you think I have and extra 1800 around after paying my Attorney? Really? So, we tried to do the DIL with them and would not ante up the 1800.00 and they said forget it, go ahead and go BK we will wait. Totally stupid! They could have had the house, the keys and been on their merry way. The place sits empty now, we can not insure it and it is in GA and we live in MO. BOA has the one here in MO we gave it up too, but we are still there, and I guess you could say we are in for a double header of fun... lol Not much you can do but laugh. Shadow inventory is all I can say....

[OHBOY]

Quote by 'TeacherMomma':
"I am settling with AMEX this month, and am prepared to settle with BofA and Chase too - but BofA has not made one shread of contact in any form."


Could you kindly give the details as to how the settling process worked for you, the (preferable....'pretty please') step by step approach.

Did the banks contact you, or the other way around.

Was the contact by phone or mail ? ( kinda wondering as I seldom answer the phone...)

Did you make the settlements 'subject to' anything... i.e.: that they can't sell the remaining debt, ect. ?

Did the banks have any stipulations ?

As I am also considering the settling approach, sure would love to hear the 'scoop'