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I request advice with the following situation (reported in order of facts):

 

The wife's credit report showed a 120+ day delinquent payment.

She called credit bureau and was told it was probably information mix-up

She called creBank of America that reported late payment, and was told her balances were all $0 and all her accounts closed.

She called again and was told the same

She requested a letter showing this

She received a letter regarding 8/5, stating one of her accounts was closed

She received another letter 8/9 saying investigation showed her accounts were overdue

She called 8/12 and representative noted she had a balance due of $200, that has grown with late charges to $400.

Representative noted that they see she attempted to pay off and close the account in May, but there was a digit missing, and so payment did not go through.

Credit card representative said they probably mailed notices to her address -- for which wife used an old address not currently in use.

Wife explained that she never got a phone call at any point. Credit card representative did not dispute this.

Call with representative was not recorded.

 

What to do now? Her credit score is 100pts lower for a $200 bill.

Credit company shows an attempt to pay and acknowledges no phone call, but may have plausible deniability on sending monthly mailers noting account was delinquent. I'm not sure where this mail ever went to, and whether it was just returned to credit card company.

 

I am more concerned with 100pts score vs. the insane late fees (how do they got to $200 in late fees for 120 days?). The credit card company ha NO INCENTIVE to get the amounts paid current if they can just rack up these late fees and hold you hostage over your credit report. This seems like it should be illegal (i.e., you shouldn't be able to charge both $200 in late fees + damage someone's credit report without a phone call)

 

What to do now?

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I request advice with the following situation (reported in order of facts):

 

The wife's credit report showed a 120+ day delinquent payment.

She called credit bureau and was told it was probably information mix-up

She called creBank of America that reported late payment, and was told her balances were all $0 and all her accounts closed.

She called again and was told the same

She requested a letter showing this

She received a letter regarding 8/5, stating one of her accounts was closed

She received another letter 8/9 saying investigation showed her accounts were overdue

She called 8/12 and representative noted she had a balance due of $200, that has grown with late charges to $400.

Representative noted that they see she attempted to pay off and close the account in May, but there was a digit missing, and so payment did not go through.

Credit card representative said they probably mailed notices to her address -- for which wife used an old address not currently in use.

Wife explained that she never got a phone call at any point. Credit card representative did not dispute this.

Call with representative was not recorded.

 

What to do now? Her credit score is 100pts lower for a $200 bill.

Credit company shows an attempt to pay and acknowledges no phone call, but may have plausible deniability on sending monthly mailers noting account was delinquent. I'm not sure where this mail ever went to, and whether it was just returned to credit card company.

 

I am more concerned with 100pts score vs. the insane late fees (how do they got to $200 in late fees for 120 days?). The credit card company ha NO INCENTIVE to get the amounts paid current if they can just rack up these late fees and hold you hostage over your credit report. This seems like it should be illegal (i.e., you shouldn't be able to charge both $200 in late fees + damage someone's credit report without a phone call)

 

What to do now?

 

 

Wow, that is a tough penalty to pay with the huge score drop, however the above in red puzzles me. A payment was attempted and never processed so wouldn't your wife's bank account have had a surplus of $200 in May since the payment didn't go through? That would have been a red flag that something went awry. I would verify whether or not that payment went through anyway. If it did and her money is sitting in the twilight zone at BOA, then get copies of that transaction from your bank and send to them and demand that they remove those lates on her CR. If the payment didn't go through I"m afraid to say that this might not go away for some time because BOA did not get paid on time.

 

If you've had a long relationship with BOA then maybe you could try a GW and PFD combo letter, basically tell them how sorry you are and pay the bill so that they delete it. It's worth a try because you don't have anything to lose with a 120 recent late.

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  • 3 weeks later...

Look up the CEO to Bank of America, shoot him an email. The Executive office will get the email and will open a case. They should call you within a day or so. Explain the situation and the resolution you want (late removed goodwill, or you pay the amount and get the report corrected). They will probably say they sent you notices at 30,60,90.

 

Most all executive offices have complaint resolution systems in place to resolve issues. A goodwill might work, but you would have had to cleared the account and it could take weeks. I would start at the top first if it is in fact their fault.

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I wouldn't bother with BOA executive offices. They pretty much call you back and play phone tag with you all just to inform you that they "have to comply with credit reporting regulations that require that all information be accurate" and that it is BOA's policy not to make any changes unless the original reporting was inaccurate. Total waste of time.

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