Need Advice On CLC Consumer Services

[KayLake]

All,
Not sure if everyone is familiar with CLC Consumer Services but they are a servicing company for collecting payments and in my case for collecting payments for PNC Bank for my second mortgage. I see that I can still access my account when I put in all of my account information. It still has the same loan balance as when it did almost 2 years ago. Does anyone know if this is an indication that my loan has not been charged off? It even has the next payment due date as being almost 2 years ago. I'm just very curious as to why they would still be servicing a loan that hasn't had a payment for so long. At this point you would think there would be all the late fees attached. Anyone?

[bankwhipped]

All,
Not sure if everyone is familiar with CLC Consumer Services but they are a servicing company for collecting payments and in my case for collecting payments for PNC Bank for my second mortgage. I see that I can still access my account when I put in all of my account information. It still has the same loan balance as when it did almost 2 years ago. Does anyone know if this is an indication that my loan has not been charged off? It even has the next payment due date as being almost 2 years ago. I'm just very curious as to why they would still be servicing a loan that hasn't had a payment for so long. At this point you would think there would be all the late fees attached. Anyone?

CLC stands for "consumer Loan Center" and is part of/ a division of PNC bank. I received a settlement offer, 1st letter said PNC 2nd was CLC/PNC all letters had same address and funds were to be payable to CLC/PNC Bank hope this helps.

BTW offer was (for them anyway) very reasonable and unexpected. 1st offer approx. 15 percent. Eventually settled for 3 payments within 90 days for Approx. 10 percent. Large Heloc, no payments or communication for over 2 years, in FC with 1st, underwater, unsolicited, recourse, financials were not required.

By law, they have to charge off after 6 months, does not mean that they can't continue to collect or sue if recourse.

[KayLake]

bankwhipped,
That is encouraging news for me! So you never contacted them initially? They came to you? If you don't mind could you tell me how long between the first and second offer it was? Also, do you think because you were in foreclosure with the first they jumped at the chance to settle as oppose to getting nothing? They are so damn hard to work with. Thanks for sharing your input! It is really appreciated!

[bankwhipped]

bankwhipped,
That is encouraging news for me! So you never contacted them initially? They came to you? If you don't mind could you tell me how long between the first and second offer it was? Also, do you think because you were in foreclosure with the first they jumped at the chance to settle as oppose to getting nothing? They are so damn hard to work with. Thanks for sharing your input! It is really appreciated!

Everything I had ever heard about them is that they are impossible to settle with. My 1st filed FC over 2 years ago and I am in a recourse state so I don't think that scared them into settling. More likely, we have been unable to rebound from business losses and were forced into defaulting on everything so a check of our credit report 2 years latter would not have given them any hope that if they wait they may get something. If anything, they probably realized that if they sued, we would file BK so they made a reasonable offer. The offer was good for 30 days, came as a total shock to us, called them about 3 weeks latter and explained that although we would like to settle, we were unable to come up with the full amount, offered them about 5 or 6 percent, they said the lowest they have ever seen a settlement for is 10 perct. and that he would try to get that approved and extend the due date.
a few days latter received adjusted offer for 10 perct. payable in 3 equal pmnts for the next 3 months.
Although this is still very difficult for us, we did not want to be forced into BK and we always felt they they eventually would so we had no choice but to settle. Have made 1 pmnt., 2nd we can manage but 3rd will be a problem but we will come up with it somehow.

We saw this as a blessing and did not want to pass it up. Approx. 200k forgiven and with the tax forgiveness possibly ending this year we wanted this behind us.

Before charge off they were calling daily, after CO they dropped out of site, no letters and as far as I know no calls ( no messages) until we received this offer in writing and within a month we had an agreement.

I would wait for them to contact you. If you initiate contact, you place yourself at a disadvantage and they will be more resistant to a reasonable settlement as is true with any settlement with any debt holder.

[KayLake]

bankwhipped,
Thank you for sharing your story. Very glad for you that you will have this behind you very soon. My situation is a bit different since I have already been discharged in a chapter 7 and the fact that they cannot contact us. I HAVE to make the initial contact with them so they know they can contact me for offers of settling. I will, however, not make any offer when I let them know they can contact me. My letter will simply state that they can contact me for settling the lien. The only problem I can see is how will I ever know if they did get my letter? Would you be willing to share the address of the department the letter come from? I know others have told me it is the short sale department but I would really like to address my offer of contact to the one that you have. Thank you so much! Again, thanks for sharing your story. I wish you all the best!

[bankwhipped]

bankwhipped,
Thank you for sharing your story. Very glad for you that you will have this behind you very soon. My situation is a bit different since I have already been discharged in a chapter 7 and the fact that they cannot contact us. I HAVE to make the initial contact with them so they know they can contact me for offers of settling. I will, however, not make any offer when I let them know they can contact me. My letter will simply state that they can contact me for settling the lien. The only problem I can see is how will I ever know if they did get my letter? Would you be willing to share the address of the department the letter come from? I know others have told me it is the short sale department but I would really like to address my offer of contact to the one that you have. Thank you so much! Again, thanks for sharing your story. I wish you all the best!

I would send certified, return receipt requested

Consumer Lending
Consumer Loan Center
PNC Bank
2730 Liberty Ave
Pittsburgh, PA 15222-4746