"I represent a solvent estate. After the PR was appointed, we found a monthly statement from a local bank regarding a credit card balance. I replied to the statment address, stating that I needed to know the balance without late fees after the date of death. Also notified them of the probate. I told them that as soon as I received the corrected statement, they would be paid. I heard nothing.
The following month, I got another statement from the same bank, with added finance charges, but the statement was from a different address (different state, in fact). I sent another letter, with copies of the first letter. Nothing heard.
The third month, another statement came. Same bank, different state. I tried calling, but their telephone system began going in a circle. Sent another letter.
A week later, I got a call from a credit collection company. The collection company called me on a business line in the same building, but not my law office line. It was by accident that I answered the telephone. The said they were representing the bank and wanted to settle for 70 cents on the dollar of the original debt. I confirmed they were legit and had them send me a fax. I had authorization to pay the debt, which I did.
So, in the end, a solvent estate offered to pay the full amount of the debt on three different occasions. We were thwarted by a collection company that insisted on being paid 70% of the debt. So, I figure the bank got half of that, which is 35%, when they could have done nothing and received the full amount."
This is not exactly rocket science. Well, maybe it is. Sheesh.
(Tip o' the hat to Ray Ramsay)
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