Ok long but need help. I had an equity loan in Florida that was paid three years ago with WAMU. Last year I called to inquire about a credit card so I could start my own business. The operator told me I was already approved at 4.7 for 150K. I said great. They sent me a credit card, with no credit card agreement. I used about 38K to start my business, and was making my payments on time perfectly.
Then 3 months later, I get a letter stating I needed flood insurance on my home. I called and asked why because I live in the Mountains. They told me it was for my home in FL. I told them I sold that home and hey freaked out on me and demanded payment in full at once. They said they gave me the card based on the equity in the home,and it was an equity card, not a credit card. I told them the equity loan was paid in full at time of sale, and account was closed. How could they do this?
They started to accuse me of fraud and said they would be contacting authorities. I told them, why not just switch the account over to a credit card and simply work things out this way. They refused and told me they would be seeking criminal charges.
This freaks me out, I had to hire a criminal attorney for the first time in my life (which by the way, a good criminal attorney won’t even talk to you for under 5K). Then I had to hire a credit attorney on top of that. All this stress caused me to have a heart attack and put me in the hospital.
Finally WAMU admitted it was there error because they could not show any credit agreement in writing or verbally, so they offered to work out a payment plan. But by this time, because of my heart attack, and the attorney fees, my company went under, and I was broke so I decided to declare bankruptcy. I litterally just finished my credit counseling two weeks ago and awaiting my certificate. And my attorney was planning to file a law suite against WAMU for what they put me through.
Now WAMU was seized by the FDIC, then purchased by JPMorgan. So, my quesiton is this. Since I can’t sue WAMU now, and JPMorgan won’t be able to provide a credit card agreement in writing or verbally or even verify the purchases because WAMU could only provide 1 for 800 dollars, can I have it dismissed? Should I go back to the credit attorney or deal continue to deal with the attorney who was preparing the law suite?
I have all documents of communication between WAMU and my attorneys, and while this has been going on they still hit my credit score and have collection companies call me. Each time a collection company calls, I give them the name and phone number of my credit attorney and then they don’t call back. But like a month later, another collection company does. Suggestions – who should handle this and will I have the option to sue anyone for their errors?
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