Okay so heres the short intro.
2 years ago Original loan app was with bank of America, got turned down for credit so I guess Key Bank decided to pick it up. I never once filled out any information for Key Bank. I asked for a verification of debt in regards to a car loan with an original creditor. They sent a photocopy of the bank of america loan agreement, payment history and checks. I sent back the 9 page VOD and changed a few things. Removed the copyright stuff, added some stronger language on only accepting the original bona fide signature note and added 4 stronger questions to the offer of performance. (check the mbna turns to attorneys post to get an idea of what I asked for).
Heres what I got back along with the photocopied crap again. Any and all thoughts would be helpful. there are a couple a questions at the end of the letter. Oh yeah ICE thanks for the warning on this before hand; just because I went through with it doesn’t mean I wasn’t listening or paying attention I’m waiting for the tom schauf books and figured I’d give it a shot before they got here. Cant learn anything without trying.
KeyBank law group KeyBank USA, National Association
Dear mr. X
This letter is in response to the following packet of documents dated sept 13, 2004 that you sent to keybank: a “private international administrative remedy demand” which contained a request to validate your debt, a tender of payment and other miscellaneous items.
Please be advised that keybank is a bank and, as such, is exempt from the provisions of the fair debt Collection practices Act (FDCPA) since we are not considered to be a “debt collector,” as defined by the act. 15 USC Section 1692g. Further, since you have not been contacted by a “debt collector” section 809 of the FDCPA pertaining to the validation of a debt is not applicable to your situation. As such KeyBank will not be completing the “debt collector Disclosure Statement” that you included in your packet of information. However, KeyBank is willing to assist you in obtaining the information that you’ve requested.
Enclosed for your review are: the application for credit; the installment loan note dated November 16.2002 (”Note”); a letter from KeyBank dated November 27, 2002 indicating that the Note had been assigned to KeyBank; a copy of the payment history on this account; copies of at least five checks that were sent in as payment on this account.
Pursuant to the fair debt Collection practice Act, this letter and its enclosures serve to validate the debt that you dispute.
Additionally, please be advised that KeyBank will not accept the “tender of Payment” the “offer of Performance,” or the “certified Promissory Note” that you sent in your package. All offers of settlement on your account are hereby rejected. Your Letter dated September 13, 2004 neither acts as a novation nor as an accord and satisfaction. Further attempts at a novation or an accord and satisfaction will be similarly rejected.
We request that you stop sending further documents of this sort to KeyBank. Despite that redemption documents you have sent to KeyBank, you will remain liable for repaying your debt. In the event that you fail to repay your debt, KeyBank will take all actions available, including the possible reporting of adverse information to the various credit reporting agencies and foreclosure of your property.
KeyBank is under no obligation to provide you with any responses or acknowledgements to any letters you might send. By not providing you with any reply, KeyBank is not admitting to the truth or falsity of any statements or claims you make in your correspondence. Further, no responding to your correspondence does not create any type of default, material misrepresentation, or dishonor on the part KeyBank. Your obligation to repay the amount owed under the terms of your extension of credit are not affected by KeyBanks’s response or lack of response to any correspondence you may send in.
Please feel free to contact our Collections and Recovery Department at xxx to make payment arrangements on your account. Should you have any further questions on your account, feel free to contact one of our customer represantitives at xxx
Sincerely
KeyBank Law Group
1. Due to outright rejection of my promissory note my debt is discharged according to the UCC § 3-603. TENDER OF PAYMENT, right?
2. paragraph 7 .. Your obligation to repay the amount owed under the terms of your extension of credit…did they just admit that they the bank extended me credit????? That’s a no-no for banks right?
3. Lien, Lien who’s got the Lien. I’m still befuddled on which way to go with the removal of Keybank as legal owner on the title. On the original bank of America document I didn’t check the box or initial the box that said I would give them security interest in the property whoopsie
. Also my copy of the odometer disclosure release of interest by registered owner paperwork is signed only by me. However when I went to my dealer and checked my sales file per TILA (truth in lending act) their copy of this paperwork is signed. They signed it after I left. The application says on the left hand side that applicable sections not valid unless fully completed. Are they legally allowed to give me a copy of their unsigned copy and sign it later? Can I use this letter and a copy of the promissory note I sent as a way to sue for release of Lien?
As always thank you for your responses and I’m waiting on the schauf books.
; a letter from KeyBank dated November 27, 2002 indicating that the Note had been assigned to KeyBank; a copy of the payment history on this account; copies of at least five checks that were sent in as payment on this account.
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