IBM LBPS - WARNING: They will report credit if you apply for a loan mod
Why did Chase sell my loan to this horrid servicer?what a way to wreck your banking business.
I have never missed a payment, but was trying to modify my loan to a fixed rate because it will soon adjust and I was unemployed for a short period. Since I am upside down, I can't do a traditional refi. After doing loads and loads of paperwork and going through a long drawn out process, they offered a ridiculous temporary reduction of payment that forces you to become delinquent. I did not accept the offer and did not sign anything agreeing to it and continued to make payments as usual and guess what?
Low and behold, I did a credit check and they are reporting me on the credit bureaus as being in a modification/work out. I have never been late! I tried to correct this with the CS dept after being on extremely long holds. They said that I have to put in my request in writing which I did over a month ago.
I am on hold again with them now.
I am thinking about suing.