Consumer complaint received 2021-10-29
Company: ZIONS BANCORPORATION
State: CA
Product: Debt collection
Sub-product: Other debt
Issue: Took or threatened to take negative or legal action
Sub-issue: Seized or attempted to seize your property

Complaint:
About XXXX years ago, I was acting as a real estate developer with three other gentlemen. We had relationships with multiple banks, including XXXX XXXX, XXXXXXXX XXXX  and XXXX XXXXXXXX XXXX to name a few. With XXXX XXXX, we took out a $ XXXX business line of credit. The market collapsed. Our real estate projects halted and got foreclosed upon, as did our line of credit. Since we had nothing, we had to let the various projects fail and foreclose. We worked with the bank on maximizing the sale price to minimize the deficiency. XXXXXXXX XXXX  failed. They were absorbed by California Bank & Trust, as well as all it's loans it carried. They had a loss share agreement through the FDIC. The line of credit was foreclosed upon in XXXX ( see attached ) for approx. $ XXXX ( principal and default interest ). 
The bank never tried to collect on this and other judgments it received from us. I have attached the judgments. The bank let two lapse ( see attached ) for the full ten years and this was lapsing in two years. I have no doubt they would have let this lapse on the XXXX year anniversary in XXXX without me or my former partners having had to pay a dime. 
Earlier this year, my wife and I decided to move forward with a remodel. The bank we were going to for the loan wanted all judgments and liens removed prior to issuing a refinance. This meant the $ XXXX XXXX judgment. 
I approached the bank via phone earlier in the year and followed up XX/XX/XXXX with an email ( attached ). I was told by XXXX XXXX, the best course of action is to go through an attorney. So, I hired XXXX XXXX XXXX, a local law firm. My attorney, XXXX XXXX reached out to their attorney to discuss. They asked for a personal finance statement and tax returns. I promptly provided. They spent months going back and forth and basically got nowhere. The bank was not responding. 
Finally, on XXXX frustrated and have spent considerable money, I attempted to reach out to XXXX XXXX, who eventually put me in touch with XXXX XXXX. XXXX reached back out and requested a copy of my XXXX tax returns ( which I had not filed ). After finally providing post filing, I sent over to XXXX. He went radio silent again. I reached out again and finally got a hold of him. He the asked I provide an update of the personal finance statement. I immediately complied. 
XXXX replied he would be lucky to get back to me ( because of his heavy workload ) within 30 days and, if that happened, hope to have this settled by XXXX. He never said it would take this long ( as he referenced in his email ). 
This time frame will, more than likely, cause me to lose the loan, cost further money and mental anguish to me and my wife. It is ridiculous that I am trying to pay them something when this was not on their radar ( since they were not looking to get paid ). Now, I must wait another three ( 3 ) months to possibly clear this. 
While I feel they are stretching this out, there is no reason we can not come to an agreement quickly and easily. They are just stretching this out needlessly and, quite frankly, cruelly. They are playing with our lives and our livelihood.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation