Hi All,

I am a Bank of America customer. I have missed payments on their credit card for last three months and my account is past due. The reason it is not paid is not due to any financial difficulty. Rather it was such a small amount ($13.00 originally, $30.36 wth fines and charges) that it fell off my radar. Also I was not present in US for 2 months. I generally do not use this particular card but only did it because my other card was not being read by the card reader. I have recently found out that they have reported me to the credit bereau and my credit report has been affected disastrously. I am willing to pay this account in full with immediately but is there anyway the negative items in my credit report be mitigated?

It particularly sucks because I have a long relationship with Bank of America. I have another credit card with them for last 5 years and borrowed about $10k on that card during last year and always paid on time. I also have significant amount of deposits in checking, savings, CD etc with them for last 3 years. What angers me is they never alerted me that they are going to do this although I was in regular contact with them for last 6 month over other matters. I even visited their branch quite a few times in March/April before going out of US on business.

Do you think it is a good strategy to leverage my business relationship with BoA to remove some negative points from my report or possibly ra-age?

Thanking you for your kind advice in advance.:confused:

BNB

Pay them and ask them to show some goodwill by removing those lates, if they refuse just tell them that you can not do business with somebody who doesn't want to help you and you will close and cancel accounts as soon as is convenient for you.

Carl.-

Hello MBM:

It's worse than you thought. Any other credit card or adjustable rate mortgage might be affected. The credit card company's are LOOKING for reasons to bump your interests rates, and you just handed them one. Even your OTHER BofA credit card...

So, back to your problem. The bank has an agreement with the credit bureaus stating that they WILL report these kinds of problems to them. Their relationship with the credit bureaus is quite a bit more valuable to them, than the one they have with you, so asking them to violate their agreement with the bureaus ain't going to work. Besides, they didn't do anything wrong. YOU DID. Therefore, Dude, RAGE, is Out of the question.

You're not out of gas, however. You can certainly challenge the remarks with the credit bureaus. It MAY come off that way. It may not.

Do you know about this internet thingy? The one you're using now? It can be used to track your bills. They only FALL off the radar if you're not interested enough in your affairs to make SURE they don't fall off. There's a price to pay for that inattention, and you're paying it.

excon

Hi excon,
How do I challenge the remarks with the credit bureaus. What's the procedure for this?
Thanks
BNB

Hello again, b:

Boy, I thought you were going to raise hell with me. I wasn't very nice to you. But, I did tell you the truth.

Order your reports from the three bureaus. Along with the reports will be information on how to dispute any item you disagree with. There will be a form you fill out and send back. They have 30 days within which to either verify the negative remark or remove it.

Often times banks are too busy to reply in time, or they don't, or I don't know why. All I know is this method is the ONLY way I know to remove it, and it works about half the time. You can challenge them again, too.

excon

Hi excon,

So you are saying it is pointless to argue my case with BofA. What about all this re-aging,I read in internet? There are even some FDIC guidelines for re-aging.

Thanks
BNB

Hello again, b:

I don't think that'll help you.

If the creditor agrees to re-age your account, your missed payments are forgiven and late fees stop. You still owe the same money, and you'll still owe the late fees already assessed. But you'll no longer be delinquent. You get a fresh start and your lender has one less delinquency to report.

That makes the bank happy. But, it does nothing to repair the negative remarks ALREADY on your credit report. It just stops them from getting worse.

excon

Hi excon,

What about people claiming all time in message boards, that they got their creditors to remove negative remarks once they paid their balance.

Thanks

Hello again, b:

I don't think you should listen to claims from them. I think you should listen to claims from me.

Look, I'm not saying you shouldn't politely ask your bank to do it. You've got nothing to lose. I'm just telling you that, unless you're a zillionaire, and asking the bank president himself, they're not going to do it. I'd love you to prove me wrong. I hate banks.

excon

Hi excon,
So am I better off paying this account or dispute it?
Thanks
BNB

Hello again, b:

Dispute it with WHO? You owe the original amount, and you owe the late charges. They're NOT cheating you. You have a contract with them. You signed it. It says that they have the RIGHT to add certain charges if you don't pay. You didn't.

Look, we're talking about $30 bucks here. Yes, pay it. If you haven't pissed them off by now, they MAY give you back your late fees. They MAY not. They don't owe them to you. IF they give them back, they're doing you a favor. In my view, they're not going to give them back. I'd again, love for you to prove me wrong. I still hate banks.

None of this, however, has anything to do with what the credit bureaus are reporting.

excon

Hi excon,
I mean you said "You can certainly challenge the remarks with the credit bureaus."
BNB

You can challenge any information on your credit report that is not true, If it is true, then the credit agency can and will merely notify the agency it is real.

If you are behind enough and owe enough, sometimes you can make a deal with they will report the debt as paid and allow it to drop off the late payment, But again if you honestly owe it, they don't have to.

I think that this is getting a little out of hand, Jesus! Is only $30. Credit cards are a very competitive market and having a good customer with some money who also do use credit is something exremely valuable for almost any company, Capital one is the only exception that I know.
Before getting into disputes and complicated stuff I really think that is worht to try it simple, just call them and if you have deposits with them they'll know that you have the money pay up and close any time, go to do business with the competition.

For me it works every time, I don't know how many times I had 30 days late deleted from my reports by the original creditor, only one time I had to send a payment for the full balance before they finally call me back and leave a message in my answer machine saying that they were to work with me.

Carl.-

You need to pay it off (asap) then you need to get a updated credit report and then send a letter to the credit bureaus, along with a copy of your statement showing that it was paid off in full and ask for them to remove it off your credit. I would get a credit report from the 3 bureaus to see if it's on all 3. If so, send them to all 3 and dispute it. You can find there address online. Transunion, Exquifax, Experian. Hope you have a blessed night.

You need to pay it off (asap) then you need to get a updated credit report and then send a letter to the credit bureaus, along with a copy of your statement showing that it was paid off in full and ask for them to remove it off your credit. I would get a credit report from the 3 bureaus to see if it's on all 3. If so, send them to all 3 and dispute it. You can find there address online. Transunion, Exquifax, Experian. Hope you have a blessed night.

Sending a copy of your statement showing it is paid in full doesn't mean it wasn't late.

The CRA will not remove lates just because you are now paid in full.


As someone else suggested, pay it asap. Then goodwill BoA to remove the lates.

Nothing in law says that a creditor must report your accounts to the CRA, but the law says if they do report, they must report accurately. So, basically you are asking for them to simply just not report those months you were late.

Check out myFICO - FICO Credit Scores | Get a Free Credit Report Online (http://www.myfico.com) for sample GW letters.

Nothing illegal and it happens over and over. Some companies will do this,some will not.

CRA- credit reporting agency(EQ, TU, and EX)

I don't know who this person is taht it saying this, but they have no clue as to what they are talking about. Yes, if you pay if off they can remove if off you report. I have done it before. I have even got them to remove my husbands bankrupt off and it wasn't even on there for 10 yrs. just 3 yrs. So how you gonan sit here and try to act like you know it all. I can say this because I have been there and done that and want to help people with theres now. You can get points back from people taht looked at you credit. Everytime someone looks at your credit it drops 1 point. I know how to get it back everytime. Don't listen to this person. GO TO THIS WEBSITE AND JUST READ AND LEARN ABOUT YOUR CREDIT AND YOU'LL FIND OUT. eVEN CALL THE CREDIT and they'll tell you. Federal trade commission, go there and read


You can have accounts removed yes. But showing that you are current doesn't mean you weren't late at one point.

Having a BK removed early is fraud! Flat out.

I have been there and done that too. I am in the middle of doing it now. I have raised nearly 100 points since March... legally.

You don't drop 1 point every time someone does a hard inquiry. There is no set amount of points.

Having legitimate inquiries removed is fraud as well.

Yes, please go the website I listed and read.

What is the name of your business? I want to watch the headlines for it to see how long it is before fraud charges are filed.

BNB,

You can get negatives off your credit report. I have helped several people in the past repair their credit. This is what you have to do. You have to put a lot of time into this situation. Call your credit card and tell them you would like to talk to someone who could help you get the late penalties and interest off the balance and then you would like to pay the balance in full. Tell them that you were out of the country with at the deathbed of a relative. I am not kidding about this. You will have to have an exaggerated reason. Then they will agree most likely to drop the late fees and interest if you pay over the phone. Then comes the hard part of talking with another dept with the credit card company to get them to send a letter to the three credit bureas and then sending you a copy as well. You will at that time have to contact the three agencies and follow up with them in approx three months to make sure that they take the info off your report. This will take months and maybe up to a year but it will work. There will be a lot of hoops that the credit bureaus will require you to jump through but it is worth it. Get rid of all but three credit cards. Make sure that there is no other outstanding debts on your report. Good luck.

Removing a BK would be fraud only if you fake papers and after removal you obtain credit and never pay back, then the creditors can nail you with criminal charges if they knew what you've done.

Ondago, budy better loose the actitud and the screaming with those capital letters,don't matter if you are right or wrong, I know it is very hispanic but it won't work in the US, not with us.


Carl.-


Disputing accurate information in order to get it removed is fraud.

Hello farmgirl:

While what you say is accurate, credit reports rarely are. Therefore, if a date is incorrect, or if a name is misspelled, or a street name off by a letter, the information is inaccurate, and is subject to challenge.

MOST items in a credit report have inaccuracies in them. Now, if the credit bureaus would report the CORRECT information, maybe the abuse of the system by debtors would be allayed. But, I submit the problem is that the CREDIT BUREAUS don't report accurate information.

excon

Hello farmgirl:

While what you say is accurate, credit reports rarely are. Therefore, if a date is incorrect, or if a name is misspelled, or a street name off by a letter, the information is inaccurate, and is subject to challenge.

MOST items in a credit report have inaccuracies in them. Now, if the credit bureaus would report the CORRECT information, maybe the abuse of the system by debtors would be allayed. But, I submit the problem is that the CREDIT BUREAUS don't report accurate information.

excon

True, most reports do have inaccuracies on them. However, 9 times out of 10, the inaccuracies come from the creditors who are reporting. The CRA are good about reporting what the creditors report to them.

However, in the case of the BK that was removed... nothing was said to be inaccurate.

You should only dispute what is inaccurate, not the entire TL in general.

Using the "dispute method" to repair credit is the fastest way to have a FA placed on your report.

That's your opinion the way you think it should be, the fact is that there is nothing in the FCRA or anywhere else criminalizing the dispute of information accurate or not, if you know better please direct me to that piece of legislature.

A FA (Fraud Alert if I got the meaning right) only takes 42 cents in a stamp, the cost of the paper, envelope and about 7 days for the CRA to delete, is something voluntary not a punishment from the big brother.

You should dispute wahtever you want, it is not a crime is your right, then is up to the creditor to show records if they want to be paid.

Every CRA screw up in a different way for instance Equifax, if you have a charge off account 6 years old and the bank report the status as CO the credit score algorithm interpret it as a brand new charge off one month old killing your score, it is intentional from Equifax a way to give the banks and collector the power to unfarlly harm the credit even when it is against the intention of the law.

So don't lecture us, you have no idea of what you are talking about or maybe you have other interests I don't know and I don't need to know. Just be aware that I will be here every time you try to confuse reality with your wishes.

Carl.-

That's your opinion the way you think it should be, the fact is that there is nothing in the FCRA or anywhere else criminalizing the dispute of information accurate or not, if you know better please direct me to that piece of legislature.

FCRA 611 lays out how the CRA is to handle cases of disputed accuracy, meaning if you dispute something as not being accurate that is how they are to handle it. Why would you dispute something that is accurate and you know to be accurate? If you know it is accurate and you dispute it saying it is inaccurate, that is wrong and could be punishable if the CRA could prove it and took the time. At any rate, it is unethical to dispute something as inaccurate when you know that it is accurate. Does that have to be written out in big, bright, bold letters?

A FA (Fraud Alert if I got the meaning right) only takes 42 cents in a stamp, the cost of the paper, envelope and about 7 days for the CRA to delete, is something voluntary not a punishment from the big brother.

I have seen people dealing with trying to have FA removed for months now. It isn't that simple.

You should dispute wahtever you want, it is not a crime is your right, then is up to the creditor to show records if they want to be paid.

I think you are confusing disputing with the CRA with asking the CA for DV.

Every CRA screw up in a different way for instance Equifax, if you have a charge off account 6 years old and the bank report the status as CO the credit score algorithm interpret it as a brand new charge off one month old killing your score, it is intentional from Equifax a way to give the banks and collector the power to unfarlly harm the credit even when it is against the intention of the law.

Every month the account goes charged off, they are well within their rights to report it as a charge off

So don't lecture us, you have no idea of what you are talking about or maybe you have other interests I don't know and I don't need to know. Just be aware that I will be here everytime you try to confuse reality with your wishes.


Carl.-

I do know what I am talking about, when it comes to legal, ethical credit repair. I can understand why you like the CIC boards so well, anything goes over there. I guess the folks on the FICO forums have no clue. I mean why would they, they only wrote the scoring model

Just to add, if you dispute a lot with the CRA, the CRA have a habit of labeling you a "frivolous disputer" and when that happens, every time you dispute, you will get a letter back saying your dispute is frivolous.

Recommending someone challenge true information is not a correct thing, And is indeed fraud, any future recommendations to do fraud will be deleted...

Recommending someone challege true information is not a correct thing, And is indeed fraud, any future recommendations to do fraud will be deleted...

This guy certainly has his own ideas, and his own way of doing things.

No wonder my job is so secure!

All right I got what is the general tendency here, I'm not for it.

I did what in my opinion is right, you don't like it and you are the owner or at least one of the moderators of this site so I'm out of here.

I'll list your site as collectors friendly in the sites I control.

Have a good day, good bye.


Carl.-

This guy certainly has his own ideas, and his own way of doing things.

No wonder my job is so secure!



If you read through the other posts it's not the one and only time he's recommended fraud - I believe some of those posts have been pulled.

And he really has a burn against one specific credit card company.

All right I got what is the general tendency here, I'm not for it.

I did what in my opinion is right, you don,t like it and you are the owner or at least one of the moderators of this site so I'm out of here.

I'll list your site as collectors friendly in the sites I control.

Have a good day, good bye.


Carl.-



Is it possible to get a list of those sites so I never go there by mistake?