Complex case I have so I will not get into those details. I called the bank after 6 years to try and take care of this debt. It is past the SOL and the case is very complex so most CA's give up in a few months of having the debt. I think 7 CA's have represented the bank over the last 4-5 years. Well today I spoke with a head supervisor of the bank and they said I could not deal directly with the bank and I would have to call the CA that was representing them at this time.
I got brave and called the CA that the bank told me to call. The CA told me they no longer have the debt and gave it back to the bank. I called the bank back and said "ok now what"? Same supervisor talked to me a little about what I might settle for. Then I was told I would have to call back later in the week to see exactly where my account is now and what CA may have it.
So I guess my question is why on earth would the bank who still owns the debt and reports it would not just negotiate with me and my attorney directly? They have their own internal collection deparment. Instead pay some CA a percentage of what they collect. I would assume from what I read anywhere from 20-50% of what they collect. Does that just sound dumb or what? Give a CA that much money for doing absolutely nothing at all. The CA will still have to contact the bank to see if the bank would approve the settlement amount anyways.
This just frustrates me because I do not want to see some random CA get paid for doing nothing.
