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Need urgent assistance with US Bank/Phillip Cohen account


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Hi all- I am a loan officer and I am working on a client's file that has an extremely critical situation.

Background: Client had a joint US bank checking account in 1999 with her boyfriend at the time. Later, boyfriend applys for and opens a credit line in his name with US bank. They break up, Client closes the account, and is never told about the credit line, which of course the BF walks on.

Fast forward to present.

They are tyring to buy a house and the FHA underwriter wants a creditor letter to explain the chargeoff, now about $5,000.

The client and I have probably spent about 10 hours on the phone with US Bank and their designated Attorney Phillip COhen and Associates. US Bank refuses to speak with anyone regarding the account, stating that "it is in chargeoff/recovery status". Recovery department will not release any info related to the debt and refers to Phillip Cohen.

Everyone with access privledges to view the account states that my client's name does not appear on the account as a cosignor or gaurantor, just as a reference. She even offered to pay the collection to the attorney who said they could not accept payment, due to her not being on the acount!

What we cannot wait for: Disputes. The client already disputed the account, but the rate lock we have for him expires soon and cannot be extended due to the volatile market (was already extended once). We don't have 30 days.

We've tried calling 8 different numbers at US Bank, 3 for Phillip Cohen, faxing, emailing, going to the US bank branch it was opened with...came up with nothing.

Suggestions?

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Phillips & Cohen are debt collectors only. Don't worry about them too much. If US BANK is not cooperating, ask for a supervisor and threaten to contact the OCC Office of the Comptroller of Currency and the FTC. The OCC will get on them quickly.....Hopefully with enough time to keep the rate locked in. But your complaint with the OCC is with US Bank only. Your client should only have to prove the the credit bureau reporting the inaccuracy that it is not his/hers to have it removed.

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Yeah, I knew that Phillip Cohen etc was debt collectors; the frustrating part is whenever we get ahold of someone in US Bank who can actually reference the account, they say "we cannot speak about this account, all commuinication must go through our attorney blah blah blah". Yet, oddly enough the attorney isn't reporting anything to my clien'ts credit. Since they(attorney) doesn't have my client's social attached to the file, I can only assume US Bank is to blame for this. MY client gave US bank her social when she applied for the checking account; when the credit line went delinquent they must of figured it would be a sweet idea to slap it on her credit too.

Such an irritating catch 22. "Hi I need information on this account, it's being reported to my credit" "are you on the account" "no, thats the whole problem" "well then sorry we can't release any information" xhitwallx

The other issue is that there [apparently] 8 different divisions/telephone numbers at US Bank that handles these types of accounts. Each claims it's another's responsability. Some can or cannot access the account. All are equally surly and unwilling to help. I will try your suggestion loanshark and escalate it as high as we can; this is also a violation under FCRA, FDCPA etc.

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