DeadMoneyDrew

Thanks. Seems like I can't open those on my phone. I'll have a look at them when I'm back to having access to a desktop computer.

Fair enough.

On February 14th I completed a short sale with Bank of America. The property is finally out of my hands after a lengthy battle. As of today, all three of my credit reports are still showing the account as open and 120+ days past due. On none of the reports is the line item reported as closed or settled for less, and the remaining balance is being factored into my overall credit usage. I made the last payment in October 2016. On all three credit reports the last date that the line item was reported was February 10th, 2017. Initially I was going to opt out of as many data aggregators as possible, wait for Bank of America to update the line item as closed, and contest the line item as not mine. I figured that at the minimum, I would be opted out of a bunch of tracking, and if the credit bureaus declined to remove the line item then so be it. Life got in the way, though, and I only got as far as having all of my old addresses deleted and opting out of LexisNexis. What's my play here? I know that I should probably contest this as an incorrectly reported account, but I fear that if the credit bureaus request an update then Bank of America will simply confirm it and then report it as closed and settled for less. Then I won't be able to contest it as not mine. Should I just go ahead and report it as incorrect, and hope that Bank of America fails to respond?

It's true. They deleted all of my old addresses except for one with no questions asked, and the one that they wouldn't delete is so old as to be inconsequential.

I couldn't figure it out either. It's entirely possible that this was user error.

Early last year I got a Bank of America credit card to take advantage of the 0% fee on balance transfers. When I set up my online account and recurring monthly payments, there was no option to choose "minimum payment" as the auto-payment amount. There was only the option to pay a predetermined amount. I set it at $75, which was roughly the first month's minimum payment on the transferred balance. In late March I paid off the remainder of the balance and tossed the card into a drawer. I didn't use it again until making a small purchase this week to keep the card active. I then noticed on my May checking account statement that Bank of America was continuing to debit my checking account $75. A quick review of my recent bank statements showed that they had done this in April as well, and I had simply overlooked it. So I now have a balance of -$141.03. What nonsense! I unwittingly gave BofA a $150 interest free loan, and they were more than happy to take it. I reviewed the auto-payment options today to confirm that I wasn't crazy/dumb/too stupid to find a "minimum payment" option. Either I'm crazy/dumb/stupid, or there is no such option. I don't remember if I initially set up an end date or if I chose the "until I cancel this plan" option, but why the hell would they keep drafting my account when I don't owe them anything? I have come to loathe Bank of America for numerous reasons. This is simply another reason to add to the list. What are my options here? I'm tempted to just charge $141.03 on the card and be done with it, but of course that would generate additional fees for them. Grrr.

Yes. Call. Sent from my SM-G950U using Tapatalk

Good to hear. I got the final decision letter today. All old addies deleted except for one that is so old as to be irrelevant. Whoo hoo! Sent from my SM-G950U using Tapatalk

I just called Experian to delete all of my old addresses, and I got quite possibly the nicest customer service rep that I've ever spoken to. He plowed through all of my addresses and deleted them, only asking a couple of questions in the process. He told me that I should see an update within 48 hours. No declining to delete addresses because they were reported by a current trade line, no grilling me about the reasons for deleting addresses, none of those things that some of the rest of you have reported.

traveler, I'm in a similar scenario ss you. Just yesterday I got notice from USAA that they have reduced my credit line from $16k to $2.5k. I just completed a short sale, and the delinquent payment has been dinging my credit score since about October. Once the short sale was finalized I had funds freed up to pay down credit card balances that I have been carrying, so I paid everything off. I'm surprised by this from USAA, as I have both my car insurance and homeowners insurance through USAA and have been a customer for many years.

Bingo bango bump. It has been 2 months and Bank of America still hasn't updated this account on my credit reports. The last time they reported anything to anybody regarding this account was on February 10th. On all three reports it is showing as an open account 120 days past due with the last reporting date of 2/10. What on Earth? Shouldn't they have reported this account is clothes / settled for less by now?

How on Earth does a brick-and-mortar bank not have $18K in cash on hand?

There have been at least four other threads started and subsequently closed. I guess that makes me famous? Or quick on the draw? Or something?

I agree, any bank is going to see this as a bustout and try to shut him down asap. Even if he isn't trying to bustout, it will appear so and they will certainly close him down. I think from his point of view, he can still make payments on the cards at 0%, etc and although he may never be able to use "those" cards ever again, as long as he does actually pay the money back, he will be able to get more cards in the future after he does repay all of them. Anyway, just doesn't seem worth the risk, but not for me to decide, for him to decide. Without doing a random SP, the banks will only see the usage of their own cards. AS mendelssohn pointed out, there is still concern that they'll get freaked out by the balance on their own cards, but if not they'll never know about my util.This is not accurate. I doubt any banks do random soft pulls. They do regular soft pulls usually quarterly or monthly. In addition, they also use triggers from the CRAs to tell them when to make additional pulls. For example, they may instruct the CRA to alert them if there is a sudden increase in utilization or other signs of financial distress. It is pretty much an assured thing that what you are contemplating will be noticed by most if not all your creditors in short order.I can see banks doing random checks on credit if internal triggers are tripped such as 100% utilization or late pays etc. to see what is going on with customer.What you just described is not random. It's a check that is triggered when certain flags are raised. It's commonly known that banks do this.

I'll bet that the auto-pay wouldn't have run at all if you had it set to pay ab amount less than $3,000, such as the minimum payment. I'm assuming that because you had it set to pay the full balance, it still ran even though you've made a payment, thus causing your shortfall.