Hi all I havent been here in a while, I thought this stuff was behind me! Everyone was so helpful before so I'm back for more advice. In 2009, we let several of our rental properties go into foreclosure. I wont bore everyone with the reasons. Anyway, using what I learned here, I had everything cleared up for the most part. There were five loans we defaulted on. They eventually showed closed or charged off on our credit reports. Over the last couple of years, our credit score crept back up and all was well. Then, in February of this year, Bank of America started reporting two of the loans late again, as of this year..with past due balances! These loans foreclosed two years ago, and were closed. The bank cannot legally collect on them, nor have they tried to. I spent countless numbers of hours on the phone, usually being told the loans were closed, no balance, and that the credit agencies have it wrong. I went through several levels of disputes over months, but everything came back verified! I sent a letter to the bank, with copies our credit reports, explaining these reports were incorrect and damaging our credit. Over the phone, they had finally acknowledged their error. But today, i got letters back stating they verified the information was accurate, and they were not going to change anything!!! I dont know what to do!!! When i call them, they agree with me and tell me to put it in writing so it can be fixed. I do that, and they are saying its accurate?!? I have spent so much time trying to fix this, Iam beside myself. Has anybody had luck suing Bank of America and can anybody refer me to an attorney?! Any other suggestions?
Oh my gosh. I'm so sorry you're going through this as I have also been working on my credit for quite some time and recently hit a HUGE setback; trust me when I say I know how you feel. On mine, the reporting agency is a servicing company BUT the actual creditor is BOA so maybe they have a reputation in the credit reporting industry? In my situation, I filed a complaint with my state Attorney General and also hired a private attorney. Surprisingly, I received a letter from the AG in the mail today and they have offered a settlement. Best of luck and I hope this is resolved for you quickly. I know it's frustrating but try to hang in there.
Are you in California by chance? I would love to know which attorney you used if so. I have some calls in to some attorneys I was referred to, but none of them really practice this type of thing. I am hoping they can get me a referral. I hate to spend thousands getting an attorney but I am so fed up and dont know what else to do! Glad to hear you got a settlement! Also, YES, B of A has a horrible reputation! Actually, it seems all of the big banks have issues with accurately reporting things. There is no oversight and threatening them with complaints and lawsuits does no good (I did both those in my letters).
No, I'm in Alabama but they really put a wrench in the gears of me refinancing my house. You could possibly contact your state AG, which is where I started. Also your state bar association should have a list of qualified attorneys who would handle this for you and some will take cases on a contingent basis. Good luck and I know it's frustrating but try to hang in there.
Thanks for your support! I made some calls today to get referrals to an attorney. Next week I will call the Ca Attorney General to see how to file a complant. They have worn me down but I am not giving up this fight! If anyone else has any ideas, please let me know.
Were the disputes specific to the errors, or general. If they are specific, then BoA & the CRAs in court will probably be the only way to get final resolution. If you enjoy the process of researching the law, I can give you a couple major cases that have nice quotes that can strengthen your dispute letters to get past the dreaded "previously investigated" letter. But as you are already getting, BoA will say all the CRAs are each getting it wrong, and they will say we are just parroting what BoA tells us to say.
Have you tried getting written verification from BofA that they are closed and you don't owe anything etc? Then try sending that with a dispute directly with the credit reporting agency? Don't know if it will work, but it's a thought.
Unfortunately, Cathy, per the 60 Minutes/FTC Report, you could have a notarized affidavit from the DF saying that the CRA is reporting it wrong, and the CRA will ignore it, because no one with authority to read and respond to the dispute will actually see it (unless you are forced to go through their attorneys ).
