M&I Bank

I have an IDA retirement account. I went to purchase USAGX stock and M&I stated that I had $16,000 available to purchase. So I purchased $15,000. Now I got an e-mail stating that I am overdrawn $13,000 and will be penalized with a $25 overdraft fee and interest everyday that the overdraft is not paid. I wonder how many people they do this to.

In 2007, I put my condo up for sale, and bought a 1/2 duplex. M&I Bank held the bridge loan on the condominium. In Sept. 2009, I finally got an offer on the condo, which was less than the value of the loan. The entire 2 years, I had paid my monthly payments on the loan in full, and on time, every single month. In Oct 2009, M&I decided, the buyer that was pre-approved for one type of loan, was no longer qualified for that type of loan, so he needed to be approved for a different loan (turns out, he did qualify for the original loan), which stalled the closing by 1 month.

The original closing date was Oct. 30th, and the date was moved back to Nov. 30th. The bridge loan expired at the end of Oct., but I was told multiple times by M&I, that I did not have to renew the loan, or make a payment, because when I made my payment to settle the loan at the end of Nov., that would be considered my loan payment.

In addition, because the value of the sale was less than that for the loan. I could settle on an amount that was approximately 70% of the remaining loan balance, and the loan would be considered settled. In fact, the individual that I was dealing with, encouraged me to do this, so I took a loan out of my 401K, and paid the amount which was originally told to me, to be one amount, and then mysteriously a week later, M&I had increased that amount by $5,000, and could not provide me with an explanation for the increase.

The sale did close on Nov. 30th, and I paid the amount agreed to on the dates set up by M&I. They took the money out of my checking account, so I just needed to have to funds in the account. This happened on January 4, 2010. I had the funds available at closing, but was told by M&I that I had to wait 30 days. It was never disclosed to me by M&I, That this should be reflected as a default in my credit report. The settlement amount was $33,623, and because M&I didn't take the payment until Jan. 4th, the amount owed as reflected on my credit report was more than $60,000. I did exactly as the bank instructed but now it has effected my credit.

In June of this year, I contacted a financial adviser from my bank, Associated Bank, because after 2 years of paying 2 mortgages, I wanted some help getting back on my feet. She ran my credit report, and that is when I found out that this was still showing up as a late payment on credit report, so even though my credit was good, I had this late payment hanging over my head. She did suggest that I contact Bank of America, who holds the mortgage on my home, and whose credit card, I use and look into refinancing my home loan, which could free up a little money for me each month.

I did contact them and they ran the numbers and were going to refinance my loan but when they came upon the 'late payment' from M&I, they told me that because it was a short sale, I would not be able refinance my home for 2 years. Today, I received a letter from Bank of America stating that they are reducing my credit limit, because of a history of late payments on my credit report. For the record, I do not pay my bills late, and do not have a history of any late payments on any accounts. When I called them, they informed me that it was because of M&I bank. M&I never informed me that any of the options that they provided to me,or any of the instructions for finalizing the sale of my condo, would negatively affect my credit.

I work for a law firm. In January 2010, the third anniversary of my employment there, an M&I employee began telephoning the law office concerning a debt owed by one of our employees. The M&I employee disclosed to me that he was calling concerning a loan to our employee's business. I explained to the M&I employee that I was not employed by our employee's business, and that I should not have been made privy to this loan information.

Nonetheless, I told the M&I employee that I would make sure that our employee received the message. Apparently, our employee did not respond to M&I. Albert Einstein once defined insanity as doing the same thing over and over again and expecting different results. Nonetheless, the M&I employee continued to call every week at least once a week to complain that he was getting no response from our employee. Due to the nature of our employee's position and his other business, he was always out of the office when the M&I employee called.

On March 9, 2010, the M&I employee called yet again, this time disclosing that our employee had defaulted on his loan. I finally decided that I have had enough. I sent an online form via M&I corporation's website complaining that its employee was calling repeatedly and disclosing confidential financial information. However, I never received a response. I admit that I called the M&I employee a few childish names in my complaint but I said nothing profane and nothing threatening. Nevertheless, on March 17, 2010, more than a week after my complaint, M&I's security department contacted my employer and reported my complaint as a security threat. As a result of M&I's customer service, my employer over reacted and I lost my job on March 17, 2010.

NEED YOUR HELP URGENTLY TO SAVE MY BUSINESS AND MY FAMILY. NEED INJUNCTION TO STOP OUR BUSINESS FROM BEING BULLDOZED. FRAUD AND DISCRIMINATION BY M & I BANK. This letter is in reference to MI Bank's fraud towards a small business owner. We are immigrants from India and have lived here since 1978. We used all our life savings to buy a business a Shell Gas Station with C Store and Car Wash which is going to be bulldozed by a commercial developer due to MI Bank selling our fraudulent loan (note) with number of discrepancies that they refused to correct.

Mr. Eric A. from the Camelback Phoenix Headquarters decided to put an end to our business which has been a livelihood for 4 persons in our family since 5 years. Daily, lot of effort, sweat and long hours were put into this business. Our main loan of $1.96 million has been sold for $1.25Million and other small loans have been written off for the commercial developer. TRADECOR has inflated these amounts with interest and fees although MI Bank has written these the notes OFF. $65,000.00 and $150,000(line of credit accelerated to expire) are presently being used to foreclose by this commercial developer, there are no notes signed by us for $54,000 and $145,000.00(swap cancel fee) but the commercial developer is trying to collect on these too as MR. ERIC A. just handed them over to Tradecor, so they can harass us.

We had refinanced with M I Bank on 12th December 2007, one week after a major accident in Phoenix on December 7, 2007. We were sold a swap loan Note#1000 for $1,960,000 and ushered in for 15 minutes as I was in severe pain due to the accident and given a complicated brochure that we did not understand. The loan documents were signed in a week. This is where our NIGHTMARE began.

Payments kept changing fro 15k to 22k, principal and interest were not calculated correctly. The swap portion was purposely put on an automatic pay which created overdrafts and high fees amounting to $25,000 or more. The system was set up to cheat us out of the correct amounts of principal that should have been deducted from the loan and high amounts of interest benefiting them. The auto payment of the swap from the checking account was not being applied to the loan. According to their amortizing schedule the principal was to be reduced by $8,000.00 monthly. Due to the monthly payments as high as $21,000.00 our accounts were going into overdrafts with very high fees and analysis fees as much as $3,500.00. This economy has just begun to fall and the effect of such high payments was taking a toll on our business.. Several times I called Mr. Jim L., our business banker who would not respond.

Mr. Ed H., Mr. Jim L. and Mr. Eric A. were impostors for MI Bank but definitely not business bankers. We were told to sign a bridge loan of $65,000 (MOST OF THIS WAS FEES AND BANK CHARGES and some overdrafts) in December 2008 as they realized that these numbers were incorrect and all the fees and correct amounts would be put back into my loan or checking account. I have emails documenting what they said and they just needed this bridge loan for 3 months as it was the end of the year and they needed to clear their books and LATER REFUND ALL THE OVERDRAFT CHARGES AND ANALYSIS FEES. (QUOTE FROM MR ED H. GILBERT BRANCH)

MR ERIC A. demanded me to sign another incorrect new note backdated to Dec 2007 which was the main note of $1.96Million without the actual correct amounts credited to our loan in June 2009. In July 2009, the temporary loan of $65,000.00 and a line of credit of $145,000.00 were used as a means to start a TRUST DEED. (SIMPLY BY ACCELERATING THE EXPIRATION DATES) on technicality BY MR. E. ANDRES. At this time I requested him to cancel the swap and give us a fixed loan. MR. ERIC A. REFUSED TO CANCEL THE SWAP because he said that it was too expensive to do that. (Via email). Later he sells the swap and charges us a fee of $146,000.

Mr. Eric A. would treat my husband and me with rage and anger. His demeanor was intimidating, frightening and discriminatory with continuous threats of foreclosure if we did not sign his forbearance's. I was very frightened by him and the thought of loosing our business; we would sign his documents and cooperate with his demands. THESE DOCUMENTS I FIND OUT NOW HAD A CLAUSE THAT I COULD NOT GO BACK AND HOLD THEM RESPONSIBLE for all their wrongdoings and could not take them to court. There were two forbearance agreements and amendments prepared by Mr. Eric A. which were signed by us while being in Trust deed sale. Now along with the $146,500, (swap cancel) he added $54000.00 of new over drafts and new fees incurred from the swap. He collected monthly interest on these even though there were no notes, promising us that he was writing a new loan and would give us great terms when we come out of Trust Deed Sale.

March 2010, we paid our taxes which was a condition on his last Forbearance and asked Mr. Eric A. to pull us out of Trust Deed Sale. At this point he informed us that he was no longer interested in continuing his relationship with us and we should look for refinancing and or put up the station for sale. After charging us $146, 500.00 for the swap cancellation fee and the promise that he was going to sign a new loan with us, he collected monthly payments on these loans from us, he suddenly rudely informs us that MI Bank has decided to sever the relationship with us and gave us 3 months to either sell or refinance (until May 31 2010). We approached Wells Fargo and they agreed to work with us on a 7A SBA loan. Mr. Andres assured us that he would write off all the small notes and return back all the fees as these amounted to now $50,000 and also give us a break on our main loan as it had so many discrepancies and corrections to be made. The payoff statement was sent to Wells Fargo by Mr. A. for over $2Million and he stated to us that he would work with us so that the loan goes through.

The loan processing started with Wells Fargo Bank. Mr. Eric A. had written off all our notes except the big loan and sold to TradeCor at $1.25Million when Wells Fargo was preparing our refinancing at $1.8M. Mr. Eric A. has done great injustice to us. He has been unfair and due to his actions we are going to be on the streets loosing our business, our home and our livelihood. We are asking for help! We are asking from MI Bank and their representative Mr. Eric A. as to what gave them the right to use unfair means against us. Why did he sell our loan to a commercial broker who wants to bulldoz us down?

We would not like to be on food stamps and resources from the government. We want our business back! Mr. Eric A. decided that he was going to play with our lives, he wanted to destroy us, he promised us he would write off all the loans and offer us best terms on the main loan while the refinancing papers were prepared, these notes were were written off by MI Bank for the commercial developers, we have documents to prove that. Is there any one out there who can help me save my business? We want help immediately to put an injunction as we believe MI bank will not respond in time for the trust deed sale on Aug. 12 @10:30 a.m. Tradecor is going to use all their notes as a means to remove us as they have plans to build restaurants on our lot. The location is the crossroad of 75th Ave. and Thomas in the Desert Sky Mall.

Email: eric.anderes@micorp.com

ATTN: NEED INJUNCTION TO STOP OUR BUSINESS FROM BEING BULLDOZED. FRAUD AND DISCRIMINATION BY M & I BANK. This letter is in reference to MI Bank's fraud towards a small business owner. We are immigrants from India and have lived here since 1978. We used all our life savings to buy a business a Shell Gas Station with C Store and Car Wash which is going to be bulldozed by a commercial developer due to MI Bank selling our fraudulent loan (note) with number of discrepancies that they refused to correct.

Mr. Eric A. from the Camelback Phoenix Headquarters decided to put an end to our business which has been a livelihood for 4 persons in our family since 5 years. Daily, lot of effort, sweat and long hours were put into this business. Our main loan of $1.96million has been sold for $1.25Million and other small loans have been written off for the commercial developer. TRADECOR has inflated these amounts with interest and fees although MI Bank has written these the notes OFF. $65,000.00 and $150,000(line of credit accelerated to expire) are presently being used to foreclose by this commercial developer, there are no notes signed by us for $54,000 and $145,000.00(swap cancel fee) but the commercial developer is trying to collect on these too as MR. ERIC A. just handed them over to Tradecor, so they can harass us.

We had refinanced with M I Bank on 12th December 2007, one week after a major accident in Phoenix on December 7, 2007. We were sold a swap loan Note #1000 for $1,960,000 and ushered in for 15 minutes as I was in severe pain due to the accident and given a complicated brochure that we did not understand. The loan documents were signed in a week. This is where our NIGHTMARE began.

Payments kept changing fro 15k to 22k, principal and interest were not calculated correctly. The swap portion was purposely put on an automatic pay which created overdrafts and high fees amounting to $25,000 or more. The system was set up to cheat us out of the correct amounts of principal that should have been deducted from the loan and high amounts of interest benefiting them. The auto payment of the swap from the checking account was not being applied to the loan. According to their amortizing schedule the principal was to be reduced by $8,000.00 monthly. Due to the monthly payments as high as $21,000.00 our accounts were going into overdrafts with very high fees and analysis fees as much as $3,500.00. This economy has just begun to fall and the effect of such high payments was taking a toll on our business.. Several times I called Mr. Jim L., our business banker who would not respond.

Mr. Ed H., Mr. Jim L. and Mr. Eric A. were impostors for MI Bank but definitely not business bankers. We were told to sign a bridge loan of $65,000 (MOST OF THIS WAS FEES AND BANK CHARGES and some overdrafts) in December 2008 as they realized that these numbers were incorrect and all the fees and correct amounts would be put back into my loan or checking account. I have emails documenting what they said and they just needed this bridge loan for 3 months as it was the end of the year and they needed to clear their books and LATER REFUND ALL THE OVERDRAFT CHARGES AND ANALYSIS FEES. (QUOTE FROM MR ED H. GILBERT BRANCH). THIS IS HOW THE WAR BEGAN:

MR ERIC A. demanded me to sign another incorrect new note backdated to Dec 2007 which was the main note of $1.96Million without the actual correct amounts credited to our loan in June 2009. In July 2009, the temporary loan of $65,000.00 and a line of credit of $145,000.00 were used as a means to start a TRUST DEED. (SIMPLY BY ACCELERATING THE EXPIRATION DATES) on technicality BY MR.ERIC ANDRES. At this time I requested him to cancel the swap and give us a fixed loan. MR. ERIC A. REFUSED TO CANCEL THE SWAP because he said that it was too expensive to do that. (Via email). Later he sells the swap and charges us a fee of $146,000.

Mr. Eric A. would treat my husband and me with rage and anger. His demeanor was intimidating, frightening and discriminatory with continuous threats of foreclosure if we did not sign his forbearance's. I was very frightened by him and the thought of loosing our business; we would sign his documents and cooperate with his demands. THESE DOCUMENTS I FIND OUT NOW HAD A CLAUSE THAT I COULD NOT GO BACK AND HOLD THEM RESPONSIBLE for all their wrongdoings AND COULD NOT TAKE THEM TO COURT. There were two forbearance agreements and amendments prepared by Mr. Eric A. which were signed by us while being in Trust deed sale. Now along with the $146,500, (swap cancel) he added $54000.00 of new over drafts and new fees incurred from the swap. He collected monthly interest on these even though there were no notes, promising us that he was writing a new loan and would give us great terms when we come out of Trust Deed Sale.

March 2010, we paid our taxes which was a condition on his last Forbearance and asked Mr. Eric A. to pull us out of Trust Deed Sale. At this point he informed us that he was no longer interested in continuing his relationship with us and we should look for refinancing and or put up the station for sale. After charging us $146, 500.00 for the swap cancellation fee and the promise that he was going to sign a new loan with us, he collected monthly payments on these loans from us, he suddenly rudely informs us that MI Bank has decided to sever the relationship with us and gave us 3 months to either sell or refinance (until May 31 2010). We approached Wells Fargo and they agreed to work with us on a 7A SBA loan. Mr. A. assured us that he would write off all the small notes and return back all the fees as these amounted to now $50,000 and also give us a break on our main loan as it had so many discrepancies and corrections to be made. The payoff statement was sent to Wells Fargo by Mr. Andres for over $2Million and he stated to us that he would work with us so that the loan goes through. THE LOAN PROCESSING STARTED WITH WELLS FARGO BANK.

Mr. Eric A. discriminates against people from different cultures. He had written off all our notes except the big loan and sold to TradeCor at $1.25Million when Wells Fargo was preparing our refinancing at $1.8M. Mr. Eric A. has done great injustice to us. He has been unfair and due to his actions we are going to be on the streets loosing our business, our home and our livelihood. GREAT INJUSTICE! We are asking for help! We are asking from MI Bank and their representative Mr. Eric A. as to what gave them the right to use unfair means against us. Why did he sell our loan to a commercial broker who wants to BULLDOZ US DOWN? Is Mr. Eric A. taking bribes from commercial developers to remove business owners who own prime land?

I cannot believe this is United States of America! We are immigrants who worked very honestly for over 30 years and bought a business with our hard earned money. Why has this happened to us? It is unfair that senior citizens like us are suffering so much in the land of opportunity. Are there any regulations against banks that use unfair tactics against good middle class people? We would not like to be on food stamps and resources from the government. We want our business back! Mr. Eric A. decided that he was going to play with our lives, he wanted to destroy us, he promised us he would write off all the loans and offer us best terms on the main loan while the refinancing papers were prepared, these notes were were written off by MI Bank for the commercial developers, we have documents to prove that.

The question WHY DID HE NOT DO THE SAME FOR US? IS THERE ANY ONE OUT THERE WHO CAN HELP ME SAVE MY BUSINESS? WE WANT HELP IMMEDIATELY TO PUT AN INJUNCTION AS WE BELIEVE MI BANK WILL NOT RESPOND IN TIME FOR THE TRUST DEED SALE ON AUG 12 @10.30AM. TRADECOR IS GOING TO USE ALL THEIR NOTES AS A MEANS TO REMOVE US AS THEY HAVE PLANS TO BUILD RESTAURANTS ON OUR LOT. THE LOCATION IS THE CROSSROAD OF 75TH AVE AND THOMAS IN THE DESSERT SKY MALL.

I will start the story about 3 years ago when the real estate market was doing well. I had a 4 bedroom house that I was finishing along with 4 lake lot that was completely paid for. The last lot just down the lake had sold for $134,999 and $159.999. The house was on one of the lots. Using a rather conservative estimate I calculated about $650,000 for the lake property. When I bought the property there was one powerboat on the lake. When I put the property up for sale there were over 50. From a quiet lake to a party lake. When one of the neighbors (drunk) hit my Labrador with her truck and thought the speed limit was 55 instead of 35. M&I being the only bank in the area was the only bank to go to.

The loan M&I gave me is a commercial loan. I asked if I could get a residential loan because I just wanted to live in peace and quiet in the country after dealing with the bad side of society. Being as it is a commercial loan I called the IRS and asked them if I had to have a commercial endeavor. I was told yes. I then started by putting up a pole barn and purchasing tractor and agricultural equipment close to $100,000. I then put up the house and and a $25,000 alternative heating system. The market when down, especially on lake property, with its high taxes. I could not get a bid. Having been a Firefighter and medic all my life I am not a sophisticated borrower and did not really understand the intricacies of the loan process. I had to take money out of my saving which was over $100K and M&I gave the ok to do this.

As time went on the lake property did not sell and M&I capped the amount that I could borrow. I went to use the money form my CD and M&I would not let me use my own money. I had to start using my credit card to keep on working on the houses. In the interim M&I locked up my accounts so that I could not use any of my own money. Things go worse and I was not able to pay my bills. I had a second savings account which I kept so that if I over drew my checking account I would not be penalized with overdraft fees.

M&I locked that account up and started hitting me with many overdraft fees which I did not catch right away. They were holding my bill pay for 4 to 6 day and my credit card payments we coming in late and some of the card company's would sit on the money until they could charge late fees. At this point I had to file Bankruptcy and have now lost close to a million dollars. I would stay away from M & I bank if you are looking for a bank. If you are there get out. Bankruptcy and my wife is divorcing me with the pressure of the events going on around us.