Complaint / Review
Capital Management Service - Resurgent Capital Services LP
$1500 lien we're trying to pay. Refusing to give us a settlement figure. Delaying our closing, $60 interest IN ONE DAY! Ripoff

We have a $1520 lien on our house from an original Citibank debt that has been sold to Capital Management Service. We are refinancing and called CMS to ask for a settlement statement so that we could finally honor the debt.

First, they refused to give my husband any paperwork, saying that he needed to send them a check BEFORE they would release any information. He passed their info to the loan officers to see if they could get a statement.

They refused to give the loan officer any info either, saying that the payoff amount changes form day to day and they don't know how much it's going to be. He passed them over to the closing attorney to see if they could get any sense out of them. This was yesterday (Thursday) and we were supposed to close today.

They refused to give the closing attorney information too, she even offered to wire them the money directly so it would post the next day. Again, they refused to release a settlement statement, so she noted the figure for that day $1920. The original amount was $1520 in September.

Today she called back to see if she could get the settlement amount and figure out approximately how much the debt would be by Tuesday when they receive the check. Yesterday, the debt was $1920, which, if you calculate the interest and fees over 2 years, it comes out at just under 55c a day. Today, the settlement figure was $1992! That's 55c a day for 2 years and $72 OVERNIGHT!

The lender, closing attorney had to have a conference call with them and they have agreed to send out a settlement statement on Tuesday. Apparently, the woman who's job it is to do them is on vacation (how convenient). They have asked the lender to set aside $2500 for the magical mysterious figures this woman is going to conjure up as Tuesday's final figure.

I am so incensed by this behavior. This is EXTORTION! They know that they are holding up our closing and that we will probably pay the amount just to get our transaction completed.

Is there anything I can do to force them to fax over a settlement statement on Monday?

And after that, who do I report them to?