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BOA just crashed my score BIG TIME!


despair808
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The last post in this topic was posted 3157 days ago. 

 

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Just checked USAA CCMP and I almost had a heat attack! For a long time BOA was dormant and not reporting monthly on the charged off credit card that I have with them. All of a sudden, about 2 years worth of KD's showed up. My FICO went from 650 to 585 overnight. DISGUSTED! UUUUUGH ! All that hard work and now this!

Edited by despair808
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I've heard that they done that before. Maybe not BOA in particular but other OCs have done that.

 

I know it's not what you'd like to hear but they are reporting the information correctly. It stinks but hopefully your 7 years isn't too far away.

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Just checked USAA CCMP and I almost had a heat attack! For a long time BOA was dormant and not reporting monthly on the charged off credit card that I have with them. All of a sudden, about 2 years worth of KD's showed up. My FICO went from 650 to 585 overnight. DISGUSTED! UUUUUGH ! All that hard work and now this!

 

BOA did that to me in March - https://creditboards.com/forums/index.php?showtopic=541833

 

My FICO scores did not change.

 

There are other threads about this - something is recently screwed up with old BOA charge-off reporting for many people.

 

If this BOA CO was sold to a JDB, read this:

https://creditboards.com/forums/index.php?showtopic=543631

You may be in luck.

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Per NY Times, dated May, 2015, regarding settlement with Bank of America regarding charge off reporting...settlement was with attorney general of NY, Eric Schneidermann

 

this should be gone by August, 2015

 

Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone.

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Per NY Times, dated May, 2015, regarding settlement with Bank of America regarding charge off reporting...settlement was with attorney general of NY, Eric Schneidermann

 

this should be gone by August, 2015

 

Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone.

I have a friend with a BOA CC TL that this might apply to, any way to speed the deletion up?

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Key Derogatory

 

Ah, another made-up term...

I've seen it on my official reports before. It's not made up, other than by the big 3.
That's so silly...like there is some other kind...ALL derogatories are key entries on your reports. SMH.
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Key Derogatory

Ah, another made-up term...

I've seen it on my official reports before. It's not made up, other than by the big 3.
That's so silly...like there is some other kind...ALL derogatories are key entries on your reports. SMH.

 

more like a "factoring" derogatory. some derogs have little affect on bureaus..

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Per NY Times, dated May, 2015, regarding settlement with Bank of America regarding charge off reporting...settlement was with attorney general of NY, Eric Schneidermann

 

this should be gone by August, 2015

 

Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone.

This is only if BOA sold the debt. I can't tell based on ops posts if that was done for this debt or not.

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Any updates for accounts not sold?

 

There are several threads, including one started by myself, noting something is not right with BOA. They started updating old unsold CO on a monthly basis which makes it look like the debt is more recent. Several of us had also noted that a small payment (like your last payment from years ago) started showing up as a monthly payment paid.

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