Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
US Bank gaffe causes 15 min personal panic
Old 07-13-2008, 11:06 AM   #1
Dryer sheet wannabe
 
Join Date: Jul 2007
Location: Nashville
Posts: 24
Send a message via AIM to tpcooper Send a message via Yahoo to tpcooper
US Bank gaffe causes 15 min personal panic

I come home from work Friday and have a notice from the post office that delivery of a certified letter was attempted, and I can either as for them to redeliver or I can go by the post office. I hate certified mail because I am never home during delivery times and of course I can't get to the post office near my home during my lunch break from work - too far. Luckily it was Friday, so I was able to go by yesterday.

I pick it up and am even more pissed because it is one of those perforated, tear off the edges envelopes, how important could this be, right?

The letter reads:

July 03, 2008

Dear Mortgagor:

This letter will serve as notice on your breach of your Mortgage encumbering the above referenced loan number.

You are in breach of the mortgage for your failure to pay the monthly installments due thereunder. In order to cure this breach of the mortgage, you must send certified funds in the amount of xxxx.xx for payments and $.00 for late charges, plus any additional payments that may come due within thirty (30) days from the date of this letter. If you fail to bring this account current, the full balance of the loan will be accelerated.

You are hereby notified that we will be making periodic inspections of the property in accordance with the Mortgage or Deed of Trust to protect our investment. Foreclosure and public sale of the property in accordance with the applicable State Laws will follow if this account is not current within (30) days. You have the right to reinstate the mortgage after acceleration pursuant to the terms of the Mortgage and you have the right to assert in any foreclosure action the non-existence of a default and any other defense you may have to acceleration and foreclosure.

Unless you notify this office within thirty (30) days after receiving this notice that you dispute the validity of this debt or any portion thereof, this office will assume this debt is valid. We urge you to protect your investment by promptly bringing your account to a current status. Please govern yourselves accordingly.

Sincerely,
Susan Beets
Manager
Collection Department
800-820-0024


So after fuming for a few minutes knowing I had been paying, I decide to cancel my plans for the day and head home to start digging up my evidence. After a few more minutes I decide to call the phone number even though it is Saturday.

The message is:

If you are calling in reference to a certified letter that you have received dated July 3 demanding the full amount due, please be advised that letter was sent in error. We apologize for this error and our office is preparing written apologies.

It also goes onto say my credit score has not been effected by the error. Then it invites me to leave a message to be returned. The system then says the voice mail box is full.

Apparently a lot of people got these letters, and might not be as good humored as I am.
__________________

__________________
tpcooper is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-13-2008, 11:16 AM   #2
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,846
What a nightmare!!
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 07-13-2008, 01:37 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Feb 2006
Posts: 1,183
Care to tell us who the bozo lender is? I would not want my kids or friends going to them!
__________________
crazy connie is offline   Reply With Quote
Old 07-13-2008, 02:31 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Quote:
Originally Posted by crazy connie View Post
Care to tell us who the bozo lender is? I would not want my kids or friends going to them!
Well, the title says US Bank... so I'm guessing it was them.
__________________
Marquette is offline   Reply With Quote
Old 07-13-2008, 02:56 PM   #5
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
Or call the 1-800 number in the OP - Sure they will be happy to own up. BTW ask for Susan.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 07-13-2008, 03:00 PM   #6
Dryer sheet wannabe
 
Join Date: Jul 2007
Location: Nashville
Posts: 24
Send a message via AIM to tpcooper Send a message via Yahoo to tpcooper
Yeah, the loan was originally SunTrust but as I understand it was sold to and is now serviced by US Bank.

Yeah, I thought about editing out the name and number like I edited out the mortgage amount, but figured I wasn't doing anyone any harm on posting a form letter like that...I'm sure the automated phone system makes it very difficult to actually reach Susan. :-)
__________________
tpcooper is offline   Reply With Quote
Old 07-13-2008, 04:26 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
I think it is a good idea to publicly trash corporate screw ups like this.

Susan appeared to be formerly the owner of a mortgage company. If enough people on enough forums post similarly form letters first her name will associated with this on google searches. Then if there are lots of screw ups then googling "US Bank mortgages" will eventually work its way up the search results. I am sure even old line banks have somebody watching their google results.
__________________
clifp is offline   Reply With Quote
Old 07-15-2008, 08:13 AM   #8
Dryer sheet wannabe
 
Join Date: Jul 2007
Location: Nashville
Posts: 24
Send a message via AIM to tpcooper Send a message via Yahoo to tpcooper
9,000 Mistakenly Warned Of Mortgage Default - Money News Story - WSMV Nashville

I agree with the one guy though, I hope they will accept my written apology if I do ever miss a payment because of a computer glitch...
__________________
tpcooper is offline   Reply With Quote
Old 07-15-2008, 08:37 AM   #9
Full time employment: Posting here.
CitricAcid's Avatar
 
Join Date: May 2008
Posts: 546
Quote:
Originally Posted by tpcooper View Post
9,000 Mistakenly Warned Of Mortgage Default - Money News Story - WSMV Nashville

I agree with the one guy though, I hope they will accept my written apology if I do ever miss a payment because of a computer glitch...
Works one way, doesn't work the other way. By the way, was it Susan's fault or the bank's fault? By the looks of it, isn't Susan just part of a third-party collection agency? It could be that the bank, incorrectly, alerted the collection agency of thousands of false defaultees but it may not be her company's fault. Not rushing to their defense, but not sure which side is to blame here
__________________

__________________
CitricAcid is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Do you do your 30 min of aerobic exercise per day? LOL! Health and Early Retirement 76 08-01-2008 09:27 AM
We Didn't Start the Fire~3 min of history mickeyd Other topics 11 11-06-2007 08:40 PM
Personal Umbrella versus Personal Excess Liability policies ? Linney FIRE and Money 25 11-28-2006 08:06 PM
DCU 16 month CD @ 5% APY $5k min MJ FIRE and Money 15 08-28-2005 11:04 PM
Anyone Have Any Personal Experience with CORUS BANK? ShokWaveRider FIRE and Money 2 05-11-2005 08:40 PM

 

 
All times are GMT -6. The time now is 07:11 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.