California
I inherited 75 shares of mining stock from my father in certificate form. I opened an account with Charles Schwab in 2012 shortly after receiving the shares. I had intended to simply cash them out.
In early 2014 I was informed of a change regarding my account adding a sweep feature. My dividends are now being placed in this savings account.
I decided to make some trades with the existing shares (not the 50.00 in dividend money) on my account. I called to inquire (I set up the online trading account in 2012) on the shares not being available for trade on the online manager. The customer service rep put me on hold and came back online with this bombshell:
We (Charles Schwab) sent you a letter in 2012 telling you we do not want your business and asking you to close your account.
I never received said correspondence and had never contacted them other than online for stock status. The sweep feature was an opt out so no communications were required as I liked the idea.
CS told me that experian credit check was the reason they were asking me to leave. Like many my credit was hit badly in 2009-2010 however all my creditors have been satisfied.
CS forwarded me the please leave letter dated 2012 after we spoke early 2014.
I pulled my credit report and while my FICO score is blighted (It was at 552-554 from 30 years at 795-825) I have not pulled my FICO in 2014 but I am, and have, been current and repairing my debt resistance/credit since 2010. I own a home in San Francisco with a mortgage from a major national bank. All current after modification. The report does show foreclosure in error as a modification agreement was finalized.
What do I do here? should I sell my shares and try and close the account? I am now very wary of their intentions. Prior to this I had never done business with CS.
Should I just try and transfer all to a brokerage firm that is communicative in a timely fashion and wants my business?
I this lawful on the part of CS to blacklist me due to credit/debt problems from 2010?
I appreciate your input.
I inherited 75 shares of mining stock from my father in certificate form. I opened an account with Charles Schwab in 2012 shortly after receiving the shares. I had intended to simply cash them out.
In early 2014 I was informed of a change regarding my account adding a sweep feature. My dividends are now being placed in this savings account.
I decided to make some trades with the existing shares (not the 50.00 in dividend money) on my account. I called to inquire (I set up the online trading account in 2012) on the shares not being available for trade on the online manager. The customer service rep put me on hold and came back online with this bombshell:
We (Charles Schwab) sent you a letter in 2012 telling you we do not want your business and asking you to close your account.
I never received said correspondence and had never contacted them other than online for stock status. The sweep feature was an opt out so no communications were required as I liked the idea.
CS told me that experian credit check was the reason they were asking me to leave. Like many my credit was hit badly in 2009-2010 however all my creditors have been satisfied.
CS forwarded me the please leave letter dated 2012 after we spoke early 2014.
I pulled my credit report and while my FICO score is blighted (It was at 552-554 from 30 years at 795-825) I have not pulled my FICO in 2014 but I am, and have, been current and repairing my debt resistance/credit since 2010. I own a home in San Francisco with a mortgage from a major national bank. All current after modification. The report does show foreclosure in error as a modification agreement was finalized.
What do I do here? should I sell my shares and try and close the account? I am now very wary of their intentions. Prior to this I had never done business with CS.
Should I just try and transfer all to a brokerage firm that is communicative in a timely fashion and wants my business?
I this lawful on the part of CS to blacklist me due to credit/debt problems from 2010?
I appreciate your input.
