Client files bankruptcy - and I get PILES of mail!

By
Real Estate Appraiser with AmcAppraisalsinc.com

A couple of years ago, a prominent lender here in Florida filed bankruptcy and owed me for ONE appraisal fee.   Needless to say, I did not collect that fee, and basically just chalked it up to a loss.  I was certain the homeowner for whom I had performed the appraisal, was far more inconvenienced than my $350 – so I did not pursue them either for payment.  I just filed it under bad client debt.

Yet here I am two years later, getting letter after letter in the mail for every move this bankruptcy case makes!  Today, I got a full blown PACKAGE in the mail, complete with CD for all of the documents necessary for voting on the liquidation, etc, etc!

I am thinking…..”guys – you could have spent the $350 on all this mailing, CDs, paper, filing, etc – and paid me with that!”  

I know I don’t even register as a blip on the radar of what this lender owed others.  It just makes me wonder about the process, who pays for all of this mailing, copying, production, etc?!  

  I simply toss the papers in my own filing system (that little basket behind my desk) and move on.  Today, I just had to say SOMETHING though with the complete media package I received!

It certainly makes one wonder about the efficiency of the court system and the use of resources in mailing each and every person on the “I owe you money” list!   WOW!

 

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Rainer
248,359
Bill Pohl
Tetra Homes, Inc. - Loveland, OH

Richard- Government waste goes unabated in every agency. I'm not sure how they fix the problem, uless you have a method to opt-out of receiving info.

Dec 13, 2010 07:37 AM #1
Rainmaker
363,912
Rodney Mason
On Q Financial - Atlanta, GA
FHA 203(k) & HomeStyle Renovation-AL,GA,TN

You are listed as a creditor, so you will continue to get updates on the bankruptcy.

Dec 13, 2010 01:04 PM #2
Rainmaker
68,525
Richard D. Ferris
AmcAppraisalsinc.com - Clermont, FL
Florida State Certified (FHA) Appraiser

Bill - wouldn't it be nice if they provided you with a way to receive all this via email?  Sure would save some trees!

Rodney - I can at least be glad that they thought of me, right?

Dec 14, 2010 12:04 AM #3
Rainmaker
68,525
Richard D. Ferris
AmcAppraisalsinc.com - Clermont, FL
Florida State Certified (FHA) Appraiser

Postage paidThis is what I find really sad and funny about this situation.

This is one of many packets I receive as a listed creditor.  $2.24 for this ONE - and if I totalled all of the correspondence to date - it would be around $150!

They only owed me $325 for the appraisal.  Guess what - I would have settled for the $150 because I am not even expecting ANY money!   Ha!

So here's an idea for the future: send me 1 letter, with an offer of even $100, and opt out of the mailing - and the company actually SAVES another $100-200 they could have spent on settling with the other creditors!

This is all just for fun this rant....I know the system isn't REALLY going to change!

Dec 18, 2010 02:43 AM #4
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Rainmaker
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Richard D. Ferris

Florida State Certified (FHA) Appraiser
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