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    • By MarvBear
      CARES+Act+Post-Accommodation+Reporting+Guidance.pdf
       
      I have no idea if this will be of assistance to anyone.  It's full of links that are accessible.
       
      Happy reading.
    • By MBgratitude
      Hello,
       
      Does anyone know either by experience or with a good degree of certainty if American Express (AMEX) will decline card membership if you have ever filed bankruptcy against them? I have read somewhere that they keep a permanent “barred from membership list”.
       
      Is this right, no. However, as you probably know a financial institution may choose to do business with whomever they choose (a rather broad definition). I have read that even if an American Express account has been fully-discharged by a successfully complete bankruptcy case, they will no longer choose to do business with you.
       
      The reason I am asking is twenty years ago, I listed them as a creditor in my Chapter 7 bankruptcy case. I would like to apply for membership in the future when my current FICO is a bit stronger. However, I do not want to burn a hard-inquiry only for it to be declined.
       
      I apologize if I am not posting in the correct area. Thank you.
    • By allclear
      Please excuse the lengthy post... hopefully you guys can give us some guidance regarding an issue with Citibank and our Citi AAdvantage Platinum Select World Elite Mastercard. Here is the situation:
       
      Citi AAdvantage Platinum Select World Elite Mastercard
       
      We had a Credit Limit of $9,000.00
       
      On 9/23/2020 we made an electronic payment of $5,000.00. Due to financial complications resulting from the COVID-19 pandemic the payment of $5,000.00 was returned. 
       
      At no point were we informed by Citibank that the aforementioned credit card was closed. However we also did not communicate with Citibank.
       
      We dug ourselves out of our financial issues and called Citibank on 3/24/2021 in response to an email we received about making a payment. At this point our balance was $15,359.93
       
      The issues begin with the 3/24/2021 call:
       
      On 3/24/2021 we spoke with a Citibank Representative and arranged to make a payment of $6,360.00 to be processed on 3/29/2021 on the condition that once it cleared the account would be:
      1. In good standing
      2. Open
      3. The card would be active (meaning we’d be able to use it)
      We verified the above 3 conditions multiple times with the Citibank representative and they confirmed. 
      As a side note, I remember specifically giving the Citibank Representative I spoke with on 3/24/2021 an example of what my definition of open and usable was so there was no confusion.
      We also agreed to setup automatic minimum payments.
       
      On 3/25 we received a message from Citibank confirming that we had enrolled in autopay - no where in this message does it state that the account is closed. In fact it reads as if the account is open and in good standing. 
       
      On 3/29/2021 the payment in the amount of $6,360.00 processed, cleared our account and posted to Citibank.
       
      And in fact based on what the Citibank representative confirmed on our 3/24/2021 call we made an additional payment on 3/29/2021 of $4,000.00. We received an email from Citibank confirming this and again at no point did it state the account was closed, and again it reads as if the account is open.
       
      On 3/30/2021 after we confirmed both payments ($6,360 + $4,000) cleared with no issues, we checked our account to make sure the card was active - as the Citibank representative told us it would be. At this point we became worried and began calling Citibank.
       
      We spent at least 4-5 hours and multiple phone calls on with different Citibank representatives, none of which could give us any direct answers. Finally, after poking around on the internet and in message boards we found a number for the Citibank Executive Response Unit. 
      We spoke with a very polite and helpful Citibank Representative in the Executive Response Unit who opened a case for us. 
       
      At this point I sent multiple emails following up and outlining what had transpired on the 3/24/2021 call. 
       
      We never once received an email response confirming receipt of emails. Every-time I would have to call and confirm receipt. 
       
      At some point we were assigned a representative with the Citibank Executive Response unit. 
       
      After multiple emails and phone calls, they called us back on 4/12/2021.
       
      On the 04/12/2021 the rep politely told me she listened to all our phone calls with Citibank especially the call in question that took place on 3/24/2021. The rep acknowledged/confirmed the following:
       
      That the Citibank Representative I spoke with on 3/24/21, stated multiple times when asked by me (multiple times) if by making the payment of $6,360 it would bring our account; in good standing/current, open, and usable - the representative answered "Yes". She also acknowledged that in addition to answering "Yes" the representative communicated to me in other ways that by making said payment the account would be in good standing, open, and usable.   
      We expressed to the rep that Citibank should honor what they committed to on our 3/24/21 call: An open account, in good standing, and with a useable card.
       
      While polite and understanding the rep said there was nothing she could do. After we pressed her and explained we felt Citibank’s behavior was deceptive (We did not use the word fraudulent, although we believe it was) Tanya offered us a $150.00 statement credit, to which we declined. 
       
      On 04/12/2021 following the call with the Citibank rep we sent a follow-up email, confirming what transpired on our call. We called the Executive Response Unit on 04/13/2021 to confirm the email was received and forwarded to said rep - this was confirmed. 
       
      On 4/13/2021 we filed a complaint with the CFPB - that read similar to all of the above post. In addition we stated the following would be an appropriate resolution:
       
      For Citibank to honor what they agreed to on our 3/24/2021 call.
      Open our Citi AAdvantage Platinum Select World Elite Mastercard so it is usable again. Bring our account in good standing with all 3 credit bureaus  Maintain our Credit-line of $9,000.000  In addition, considering what we’ve been through we’d like them to make a goodwill correction with all 3 credit bureaus. 
       
       
      On 4/27/2021 we received a response from Citibank via email. Which basically stated there is nothing they could do, the account would remain closed, there would be no Goodwill correction with the CRA's, and that they would in fact report the account to the CRA's as "disputed by consumer".
       
      Also on 4/27/2021 we received an email from the CFPB stating that the company has responded. Status on the CFPB website shows "Closed Company Responded"
       
      And here we are today...
      What do you guys think? 
      Should we push this more? 
      Is there a way to escalate further?
      Any and all advice/suggestions/comments much appreciated!!!
       
      Thanks in advance!
    • By Diana2021
      Any advice is much appreciated! 
       
      I graduated with my masters in Aug 2020 and havent had a full time job since Dec 2019. My mom was laid off because of covid in March 2020 and I stopped making payments to credit cards after graduating from my masters (Sept 2020) because my student loans stopped coming and my mom could barely make her own mortgage payments. Since Sept 2020, Ive severely damaged my credit and am now in over $27k cc debt. 
       
      I've since moved to Europe and don't plan to come back to the US, at least not for several years, to pursue lower cost education here. 
       
      I don't know how to proceed with my cc debt because I've been told since my credit is already tanked that it wouldnt matter if I pay off my debt, attempt to lower my 23-25% interest rates on my 9 credit cards, or try to negotiate a lower payoff. 
       
      I work part time remotely for a client in the US but the work is random and not guaranteed. The most I've made since I started with her in Dec 2020 was $1100 a month. 
       
      I contacted a debt consolidation law firm in the US but they want to charge me a $750 retainer and then $600 a month for 36 months to pay off my cards. Im waiting to hear if they guarantee these cards will be paid. 
       
      No idea how to proceed and feeling overwhelmed because I want to do the right thing but Im drowning in interest rates and have called two banks to talk with them only to be yelled at and shamed. 
       
      Do you have any advice for me?
    • By allclear
      Hi all,
       
      I was wondering if anyone had some advice regarding the following:
       
      I recently pulled our credit and Ally Financial is showing a charge off (CO) in the amount of $997.77 for a Chevy Volt lease we had back in 2013. The amount was written off sometime in 2020 and we were sent a Form 1099-C. I spoke with Ally Financial today and was told the charges were for excess wear and tear - it was our understanding that when we returned the car this was being taken care of by the dealer - we turned the car in a month or two early with low miles and some equity in it and leased another Volt from the same dealer. The rep from Ally that I spoke with today said that even if I wanted to do a PFD I couldn't because our balance is showing as $0.00. 
       
      Sooooo… based on the above and the below example of how the account is showing on our Experian CR, what do you guys suggest we do to clean this up???
      Any help, advice, guidance would be greatly appreciated. 
       
      THANK YOU in advance!
       
      This is how it's showing on our Experian Report:
      Account Name: ALLY FINANCIAL
      Account Number: ######XXXXXX
      Account Type: Auto Lease
      Responsibility: Joint with XXXXX
      Date Opened: 5/30/2013
      Status: Paid in settlement. $998 written off.
      Status Updated: Aug 2020
      Balance: -
      Balance Updated: -
      Recent Payment: -
      Monthly Payment: $0
      Original Balance: $13,065
      Highest Balance: $0 
      Terms: 36 Months
      On Record Until: May 2024
      Payment History: Current on payments from August 2014 thru July 2017, then it shows CO (Charge-off) from August 2017 thru July 2020, and finally it shows CLS (Closed) August 2020.



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