Good Lord, do I know how everyone here feels. For 3 years I have been trying to get away from this mess!
First off, starting in early 2000 my loan was sold to Equicredit. In the months following the sale, payments were misplaced and/or credited to the account late.
This caused late fees to build up, and payments were not being credited to the account correctly. After a long battle, this culminated in mid-2001 with us having to file Chapter 7 to save our home. After the bankruptcy, we had a few minor problems with Equicredit.
In June our mortgage was sold to Fairbanks, and here we go again! We have always Quick Collected our payments through Western Union, which should be received by the payee no more than one hour after the transaction. Now I am receiving late fee statements from Fairbanks, and my payment is not being posted to my account until three to four days after I have Quick Collected the payment. I spoke with a customer service rep today named Danielle, and she tells me that payments are posted to accounts at midnight of the day received. Then I asked why it states on the phone that they are not posted until three or four days after the date on which they should have been received. I got ten different kinds of excuses and a brush-off.
Let me also point out that the only time I ever receive any kind of statement from this company is to tell me my payment is late (which it never should have been). I have never received a monthly statement!
I cannot wait until August, when my 2 years are up on my bankruptcy! I will be making a more educated choice this time in the financial institution I choose, and it will NOT be a company that buys and sells mortgages!
They are all a bunch of rabid dogs looking for a profit and not caring who they screw in the process!!!
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