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I recently had a frustrating problem that was hurting my
credit record and driving me to distraction. I complained to the
appropriate regulatory agency, and finally the issue was
resolved.
Here's what happened. In April, my husband and I sold a
piece of property. Prior to closing, we received a payoff
statement from the lending company. This amount was used to
distribute funds at closing and everything seemed settled.
Fifteen days after closing, the lending company sent us a
letter saying that an error had been made and we owed them more
than $1,000. Four days later, we got another letter saying that
we were late making our monthly payment, and they were charging
late fees. My husband called and talked to five people. One said
that amount was a mistake and we would get a new statement.
Within the week, we received a new payoff amount of $700, and we
mailed them a check. In the letter we enclosed with the check, we
requested documentation that they were not damaging our credit
because of their accounting error.
Then we started getting phone calls, followed by a letter
telling us we had better take action to avoid losing our home to
foreclosure. The first phone call said we owed several hundred
more dollars. The second phone call said we'd missed our May and
June payments and were delinquent.
At this point, we notified the regulatory agency with
oversight for national banks. We wrote a detailed letter to the
Comptroller of the Currency and included copies of all documents.
Just recently, we received a letter from the lender telling us
that "all adjustments have been made." They also enclosed a
letter to all credit bureaus indicating that there should be no
derogatory information in our credit file.
I found the information about the Comptroller of the
Currency in the Consumer's Resource Handbook. You should have
your own copy. It's free from CRH, Consumer Information Center,
Pueblo, CO 81009, or from the CIC web site: www.pueblo.gsa.gov.
You will find examples of complaint letters and various Consumer
tips.
Most important, you can find the names, addresses and phone
numbers of state and federal agencies you may need if you have a
problem that is not being resolved.
For more information, contact your local
Colorado State University Extension office.
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