Robert
Irvine,#2Consumer Comment
Tue, March 27, 2012
This report has more holes in it than Swiss Cheese. So just a few more that weren't mentioned before.
Once BOA reported my payment as late, my credit score dropped by a minimum of 150 points.
- There is no scoring system that I have seen that has a minimum score of 150, and even if there was a single late payment will not drop you to the minimum if you have even a fair credit history.
It is now March of 2012. I had complained to Bank of America repeatedly during the entire period to remedy the credit score issue.
They have NOTHING to do with your credit score, all they can do is put information on your Credit Report. From that companies will generate a score based on their parameters. But if BofA damaged your score as much as you said you would have been approved for a home loan. If by chance you were it would not have been at only 2% higher. It is also unlikely that you would be approved for a car loan. Again 4 years later a SINGLE late payment is not going to even be a blip on the credit score "radar screen".
IF NECESSARY I WILL USE OUTSIDE COUNCIL.
- So you have the US Treasury and a Congressman personally handling your complaint. Yet you may need to seek outside council? Let me take a guess that when you made your complaint they said something to the effect that "They will take your complaint and keep it on file", and "You are free to pursue this through a private attorney"
Karl
Highlands Ranch,#3Consumer Comment
Tue, March 27, 2012
in this country. The politicians in the USA (most of them) work for the banking cartel, which is also known as the Federal Reserve.
Simply 'Google' the following videos and watch them on the web for proof-
1) FRONTLINE: INSIDE THE MELTDOWN
2) FULL SHOW: HOW BIG BANKS ARE REWRITING THE RULES OF OUR ECONOMY
3) WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010
4) WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO
5) FRONTLINE: THE WARNING
6) INDYMAC BOYS GET SWEETHEART DEAL
7) AMERICA: FREEDOM TO FASCISM
8) YOUTUBE FALL OF THE REPUBLIC
9) EX-SALT LAKE MAYOR ROCKY ANDERSON FORMER DEMOCRACY NOW
Mailing letters to Congressmen is a waste of time, in my opinion. The U.S. Government and Wall Street are both being controlled by the banking cartel. They also control much of the Legal System in the USA, and believe it or not, they control the Mainstream Media.
The bankers are free to do as they please. That's why none of the CEOS at the big banks are in jail for fraud and corruption. Feel free to 'Google' this- COUPLE SAYS GOLDMAN MISUSED SHARES TO ASSIST SHORT-SELLERS, and read the related articles that just became available today.
Then 'Google' this- DID SPECULATION FUEL OIL PRICE SWINGS, and watch that video on the web. The bankers also control the price of oil. That is why the price of gasoline is so high. They are 'manipulating' the price of oil for PROFIT, again, in order to keep their banks afloat, just as they were doing in 2008, in my opinion.
Our entire system in this country is corrupt. The bankers own the politicians. They also control Wall Street. That is why Americans, and people all over the world, will continue to be financially injured. Spread your Ripoff Report all over the web at sites like Twitter and Facebook. You can also mail copies of your Ripoff Report to all of your Local News stations. Put it to the attention of 'Investigative Reporter'.
Good luck to you.
***POLITICIAN ALERT: Make sure to stay at this site and type in all of the following and read the Ripoff Reports for important information if you live in America-
POLITICIAN
OBAMA
BUSH
CHENEY
CLINTON
REAGAN
PRESIDENTIAL CANDIDATE
COMMITTEE CHAIRMAN
MAYOR
SENATOR
GOVERNOR
US GOVERNMENT
Steve
USA#4Consumer Comment
Tue, March 27, 2012
"They froze my line of credit, reported our one day late payment to all the credit score agencies, and started demanding full payment."
Credit card companies do NOT report you to credit agencies for being one day late.
"During this brief period I was besieged by calls from companies wanting to let them negotiate a lower settlement with BOA."
Why were you being "besieged by calls" from settlement companies during the "short time" you were carrying a 44K balance if it was not already reported as delinquent at that time?
"They admitted to my wife and I that the late payment was done on purpose by BOA to reduce their exposure to unsecured debt. This was a top down endorsed policy."
First of all, even if this absurd policy really existed, the employee would not know about it, and would certainly not admit it. But the policy does NOT exist, as it would make them lose money. Recalling an entire debt would encourage customers to just give up on it, plus BOA would lose out on all that interest. Why would they let you put 44K on the card and then a "brief period" later decide they did not want the "exposure" to the unsecured debt?
"They act as if [loan modifications] was done to help consumers."
This is the biggest laugh of all. The modifications DO help consumers; banks are doing them because there has been pressure on banks to do so, not because it necessarily helps the banks. These modifications include lowering the interest rate (which loses the bank money) and postponing payments (which increases the bank's exposure to unsecured debt). Finally, these modifications are only offered to those cardholders that actively seek them. In fact, you can find tons of complaints on here from people who are not able to get said modifications, after months of trying!
Listen - I am sorry for your hardships, I really am. But it is time to get honest about what actually happened.
Ashley
springfield,#5Consumer Comment
Tue, March 27, 2012
but creditors don't report late accounts to credit bureaus until you are 30 days late. If you were just 1 day late as you say, it should not have affected your credit score. Also what time of day did you pay on that friday? If it was after their cutoff time, the payment wouldn't process until the next buisness day making your payment late. Did you dispute the ding on your credit? During your whole rant, you never talk about disputing it with the credit agencies.
Also, what criminal charges are you wanting to bring on BoA? I'm not seeing anything criminal in your story.
Also:
" I AM SEEKING ONE BILLION DOLLARS IN RESTITUTION AND HAVE BANK OF AMERICA AGREE TO THE SAME OFFER TO EVERY SINGLE PERSON THEY TREATED THE SAME "
You might be insane. You think you deserve one billion dollars for BoA reporting you one day late on an account? Simply amazing.