Letter from US Bank

[toomuchdebt1]

I got this letter, can they actually research your properties?

Dear
We are currently in the process of searching and verifying any property that is owned by you. The search may include, but is not limited to, the following: automobiles, business assets, homes and land. This information will be compiled and retained to aid in future collections efforts against this account.

When this search is complete and all property is verified, we will consider forwarding your account to our legal department for disposition.

[Faust]

Sure, why not? It's public record, anyone can look.

Sounds like a scare tactic.

[frogger]

This is one of the most effective collection letters that is used. As Faust pointed out, they can research anything they can find. If the $$$ is enough, they might even hire someone to look harder.

The reason this letter is so effective is that it scares so many people. Take it for what it's worth. It's another letter in the long line of collection letters.

[frogger]

may include

we will consider[/I]

And take note of the way things are phrased.

may include - did not state "will include"

we will consider - did not state "we will"

It's a "threat" without being a threat. If they threaten you with the hard language, then they MUST follow up with it.

Wording of these letters is a big deal.

[catleg]

I got this letter from them too. US Bank is a pretty frisky OC, one of the few who did a "block party" and called my neighbors to try and "locate" me, yet in the end, they were the first to pull the plug and sell my account to a JDB.
I think US Bank does a fair amount of business in payday loans and their collectors are definitely from the wrong side of the tracks in St. Louis.
Naturally this fine institution has money invested in it by pigman "first to the trough" Warren Buffett.

[frogger]

US Bank is a pretty frisky OC, one of the few who did a "block party" and called my neighbors to try and "locate" me

If they're going to block party you, at least they could bring the beer!

[debtprison]

Write over the letter using red crayon the words "Good for you!" and then send it back in any postage prepaid letter which they provided.

[jwmc1]

How much do you owe them?

[toomuchdebt1]

how much do you owe them?

$10,000.00

[747LUVR]

I owe US Bank $10k too, got the same exact letter. Nothing happened....dont sweat the small stuff. LOL