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DeviantlyD -> RE: Homeowner Forecloses on Bank (6/5/2011 12:07:12 AM)
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quote:
ORIGINAL: ClassIsInSession
The banks are completely out of control. Washington Mutual used to have all of my business, personal accounts, business accounts, mortgage and even a credit card. So one day they decided to let a guy 1300 miles away, 10 years older than me, different race with improper ID take all the money out of my primary account. I caught it with 15 minutes because I check my bank balances frequently. So I do the whole "by the book" report the fraud to the bank, the 3 credit bureaus, the police dept locally and in the city it was completed in etc.
So then the fraud department makes me spend 60 hours on the phone, sends me a letter calling me a liar in writing, refusing to refund the money, and holds it 3 weeks releasing it only after a detective in the state the fraud happened said he got the video tape from the branch and thought they were going to catch the guy.
By then, since they had essentially all of my money for a month, I had late fees on everything, and my credit cards, including there's jacked my interest from 7.9% to 29-31%.
As if that weren't enough insult and injury....and all of which they said sorry about your luck to, they then started calling on my mortgage by the 3rd of the month each month, dozens of times insisting I pay over the phone immediately, even though I have a grace period till the 16th each month.
Finally, I used the Fair Debt Collection Act and sent them registered letters return receipt to stop the calls. Still the persisted, 87 times in fact, until I talked with a VP at JP Morgan Chase and told her that a)In Texas, it is legal and admissable in court to record any conversation on my phone with or without knowledge or consent and b) because I had not one but two signed receipts showing they had received a cease call letter twice, that each call was a seperate injunction I could file worth $1000 a pop out of court.
Needless to say, the calls stopped, and if they hadn't, I wouldn't have had a mortgage to worry about because they would have paid it off for me.
I'd love to find an attorney that could take the fine print contracts that we all sign off on (and that get updated by mail in your bill periodically changing the terms) that would write a contract from the consumer to the company, changing the terms unless they respond in writing by 2 days after they receive the letter. It would be great to get a contract like that if it would hold up in court, then post it on the web for free for everyone to use.
Something like that would cause the banks to either bleed to death from having to staff up to handle the influx of change in terms letters or by knocking off all of their highly lucrative shenanigans.
Banks forget that they have a fiduciary responsibility to safeguard your money...that's what banking is primarily for, to safely store your money.
Wow. That is just scary. Were you able to take any legal recourse for liable since they called you a liar in writing? What made you decide not to pursue the $1000 against them for each of the times they disregarded your "cease calls" letter?
quote:
ORIGINAL: DarkSteven
I dunno. In egregious cases like this, in which a bank essentially tries to take something that is not even theirs, we ought to be able to charge the company C level officers criminally.
I couldn't agree more. The article stated this wasn't the first time this had happened. If so, banks need to take responsibility for their careless actions and be held to the same standards everyone else is held to.
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