Fifth Third Bank Consumer Loan Complaint

Fifth Third Bank Consumer loan department,

Installment loan Managing the loan or lease Michigan

In - - a loan officier from 5/3 bank came to our business and stated the bank was defaulting our loans because we were in arears on the property taxes of the building they financed. After a great deal of discussion we agreed to close our 17 year family business and sell off all assests including the commerical blg and forward all proceeds to 5/3 bank to pay against the balance of our - loans approximately $300000.00. For our cooperation 5/3 said they would assist us securing an OIC from the - which would if accepted remove all liens from our personal property and nullify the personal guarantees. We worked with - - and by - or - the business was closed, all assets sold and monies turned over to the bank. - then immediately proceeded to draw the documents to present to the -. We submitted ALL required docs including personal finance and tax info. The - responded on - occassions simply commenting that their paperwork was not completed correctly and again working with - we made the corrections and resubmitted. Now comes - - and communication from the bank stops completely. We can not find anyone who will assist us and find out what is going on. Forward to - - we are assigned a new loan officier finding out - had left the bank. The new officier is - -. She has none nothing but delay the closure of these issues. We had to resubmit paperwork, personal financials and tax info over and over simply because of inaction on the part of 5/3. Bottom line wehave fulfilled every single request set forth by 5/3 with devastating consequences to our personal situation. At - and - years old this entire process has caused us great emotional distress. It needs to come to closure, 5/3 needs to step up and meet its end of the baragain and get the OIC signed, sealed and delivered.