Re: TCF Bank -Burr Ridge-Collections Dept

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Being late and in default are two different things. There are certain contractual, and
in Illinois and most other states, certain time frames mandated by law to cure
defaults. For instance, in Illinois, my understanding is that it is 90 days.

My conclusion is that TCF Burr Ridge has been very successful in collecting with their
aggressive style, but their standard operating procedures differ greatly from what
TCF Main Office has as their stated policy, and certainly (in my non-attorney opinion)
vary greatly from various consumer protection laws the are required to comform to.

Shame on TCF Burr Ridge, but an even greater shame on TCF's Home Office and the
FDIC for not properly monitoring this out of control office.

> Unfortunately you went swimming with sharks. They can indeed
> accelerate your loan if you technically fall into default
> (according to the terms of the contract). I don't see why they
> would rather accelerate than accept a properly offered "cure"
> (payment of all due amounts and penalty/interest charges to
> date) but they can if they want.
>
> Good luck with them -- you have my sympathy which won't help
> you but it is sincere.