Debt Settlement – 90 days of collections calls

If you are new to the blog, click HERE to start at the beginning of my story.

POST #14

waiting in line.
Image by ChrisM70 via Flickr

Nothing much happened here. It was pedantic. Kind of like waiting in line at the DMV before they started making appts. Remember that? You would get there at 7am and wait in line with 200 other poor souls for 4-5 hours. When you get to the desk it takes all of 10 minutes to deal with your DMV issue, but you had to jump through all those hoops. All formality. That was the first 90 days of debt settlement.
At some point the bank knows this is headed for debt settlement, and obviously you do, too. But you have to do the 90 days of dating before the bank will kiss you. That sounds weird, I guess. But actually, Wells Fargo took such pity of my situation that I feel like they both kissed me and hugged me.
Yes I did have to jump through the hoops and do 90 days of dating. But it was worth it. Debt settlement was worth the effort and the wait.
So for about 90 days, Wells left messages on my voicemail 4-5 times a week.  The messages were mostly from an automated system and all basically said the same thing. Certainly the calls from days 30-90 were incrementally escalated in sense of urgency, but nothing scary.  They wanted me to call them and they wanted a payment, but no one threatened me during this time period.
For my part, I called Wells Fargo reps every 2 weeks and told them the same story over and over again. Everytime, they tried to get me to make a payment.  I just kept telling them I was in a financial hardship and was unable to make a payment. There was very little conflict and very little to tell. I was surprised at how uneventlful it was. I kept a detailed log of every call made and updated my CRN rep to make sure I was on track. She assured me things were going as planned.
However, as I alluded to in an earlier post, it did get nasty in one of my negotiations. Surprisingly, this nasty conversation I am referring to was my first debt settlement.
In the next post, I’ll walk you through the debt settlement and my phone calls leading up to it.
Stay tuned. Stay afloat. Wealth and freedom are in your future.

Reblog this post [with Zemanta]