I've been asked by some Chapter 7 Bankruptcy clients why it's so hard to negotiate with Bank of America.
My guesses in the past have been that it's a little like a brontosaurus; it's so big that if you stomp on it's tail, it notices fifteen minutes later.
But it appears that Bank of America may have bigger problems than your credit card debt, which is why it may have problems directing brain cells to your credit card negotiations.
And that, in turn, is why your offers to Bank of America could be turned down, even if they are profoundly realistic. The Bank just can't pay enough quality attention to figure out that you're offering it a very good deal!
Hence, "bankruptcy clients"!
But wait; there may be other issues affecting Bank of America, as well.
In a well written post called "Bank of America death-watch", Yves Smith suggests that Bank of America is having the same sort of sleepless nights that its borrowers are having.
For the same reason.
Fear of the consequences of insolvency.
Now, I have no way of telling whether Bank of America is insolvent. But apparently, the market is speaking to that issue, and it's being rather loud. And rude. And unpleasant.
