You Think They Lost Your File? Think Again.

“It has been over a year and not even a letter, a bill, or any form of communication at all… I think they lost my file. I going to wait and see what happens.” Please, people, let me dispel this notion as it is an extremely unlikely scenario and a totally self-destructive way to act. This is wishful thinking; it just does not happen, ever.

I have been doing this for thirty years, representing thousands of borrowers. Never, ever has a file been lost. It may take two years but when your number comes up and you are in their crosshairs you will know it. When the case is so old, frequently the banks resort to immediate hardball by suing, sweeping any existing accounts they are aware of, or by doing whatever their lawyers conjure up. Remember, they are saying the same thing also, just from a different perspective: “We have not heard from the borrower in default for a year and a half, let’s go get them.”

Being proactive is to your advantage and leads to a viable solution but only when you are proactive with a plan that will work. Hiding and hoping does not work, at all. Forget this notion, it will cause you much pain and suffering. Besides, you can make very little progress while waiting to see if anything does happen, so what’s the point? The liens remain, the mortgages remain, the loan documents were filed and there is no escape, just delay. It may seem endless but the end does come, I assure you, and then you have a larger problem as there is no evidence of credibility on your part and the banks are out to gun you down. Rightly so.

Way too often I hear, “I think I will wait and see.” There is no surprise. I will tell you exactly what will happen now if you take this approach so you need not wait and see. Foreclosure and liquidation of assets, collection on personal guaranty… that’s what will happen. There, now you know. No need to wait. Much, much better is a direct call and a plan to resolve, a plan based on the banks’ needs and requirements, a plan that will work for both the bank and the borrower. This is what we deliver.

Let’s get on board and work this out. We can do better for you, far better than what will happen if you wait and see. It’s like waiting for the hangman. He shows up and then what?