Have been dealing with GMAC mortgage for a year in trying to get them to correct the way they list my account with the credit bureaus. Have spent innumerous hours dealing with every department to no avail. They clearly made an error and will not fix it. Their error is making it impossible to get another loan for a new home purchase and thus pay them off! They are morons not to fix this problem. They would get the entire loan paid if they fixed this issues with the credit bureaus. See the 2 letters to them below for full explanation.
Letter 1:
GMAC Mortgage, JoAnn, Voice of the customer dept. 5/17/07
Fax 866-271-5481
JoAnn, I have not included all pages of my bankruptcy filing. There are 30 to 40 pages. The entire filing was sent to EVERY creditor when I filed on 10/13. There is also a letter dated today from my bankruptcy attorney.
I have included relevant pages. 1 page is: Debtor's Statement of Intention. It clearly shows Citizens Bank (auto loan) and GMAC Mortgage and has the block checked that says: Debt will be re-affirmed pursuant to 11 U.S.C. ~ 524 (c). Citizens Bank sent a letter of re-affirmation and I signed it.
I had 22 unsecured creditors & none of them had been paid in the 90 days prior to filing chapter. I included the page reflecting creditors paid in last 90 days. GMAC and Citizens are the only ones listed as continually paid without any late payments because I knew I wanted to re-affirm these.
Of the 22 unsecured creditors, four sent requests to re-affirm although not noted in Debtor's Statement of Intention. GMAC did not.
I wanted to re-affirm. It was indicated in bankruptcy paperwork that I requested to re-affirm. I would have re-affirmed if GMAC sent documents. Because GMAC insists on listing on credit reports as included in bankruptcy, I am unable to get a conventional loan from ANYONE. It is considered as bad as a foreclosure although NEVER late on a payment.
I have written the credit bureaus and GMAC each at least twice about this. I spoke to GMAC innumerous times. I have told at least ten different people at GMAC about this issue to include; bankruptcy dept, collections dept, foreclosure dept, customer service dept and as you are aware, yourself.in the last six weeks I have spent over 30 hours dealing GMAC and was constantly caught in the quagmire of your ever circling phone system.
I hope you will immediately get this cleared up at the credit bureaus so I can get pre-approval for another loan, sell my home and pay GMAC in full.
Tom K. Kole
Letter 2:
GMAC MORTGAGE CORPORATION 5/21/07
100 Witner Rd
Horsham PA 19044-2211
Letter 2:
Dear Sir/Madam,
Please see attached information. I have been unable to get this problem resolved through numerous attempts with virtually every department within your company.
Clearly your bankruptcy department made a huge error. A client advised them of filing of bankruptcy and clearly indicated a desire to re-affirm. They failed to send out documents to re-affirm the debt.
Your company had a client who clearly expressed a desire to re-affirm and your company had an opportunity to have that client who re-affirm.instead your company is left with a client who is able to include his debt in his bankruptcy at his choice for the entire life of the loan.
If he chose to stop paying you anything it would take you a year to get him out of the property. You would then own a home in the middle of Maine deep in the woods. You would be saddled with the burden of selling the property and regardless of the loss you took the client would owe you NOTHING!
Instead of sending re-affirmation documents which the client asked for and would have signed, no re-affirmation documents were sent. The client paid EVERY payment on time. The client even has his payments deducted direct from his savings account AND has extra taken out towards the premium.
Even though it was GMAC failure to send re-affirmation documents and the client made ALL payments on time, you are punishing him by listing the debt with the credit bureaus as included in bankruptcy.
Because of this, the client can not get any loan to pay GMAC the entire outstanding balance as he wishes to.
Not only is this unfair it is a ludicrous position for GMAC to take. It is a stupid business decision. As currently listed on the credit bureaus, to lenders, it is as bad as a foreclosure. This causes one to consider enduring a foreclosure and saving the money for the year it would take you to get him out of the property. After all, his credit could not be any worse than you have already made it.
Talk about cutting off your nose to spite your face. This arbitrary rigid corporate inflexibility to typical of a company incapable of adapting to individual circumstances as needed.
Your help with this matter would be appreciated.
Tom Kole
Tom
milo, Maine
U.S.A.
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