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Hello, all.

I'm new to this, posted a message on the wrong place (sorry!), and am trying again....

My husband had an line of credit with an S&L that went delinquent in 1996. We has a disastrous situation, blah, blah, blah, too long and boring to recount here. Anyway, we've been trying for the past year to get a statement from the bank telling us how much we owe so that we can begin repayment. Paid $1,000.00 "good faith payment", still couldn't get any information. Finally clawed our way up the ladder to a VP, who is telling us two things:
(1) interest and late fees have continued and will continue to accrue at an exponential rate, and;
(2) the bank is not legally required to report anything at all to the credit reporting agencies until we have paid the debt in full.

Are either of these things true? Any help would be greatly appreciated.

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