05-07-2009 10:20 AM
alright, so I have been collecting bank statements and trying to collect statements from the CC that is now owned by the same bank as my checking account (BofA - just passed a stress test - I guess that is good).
It is clear that for years the same agreed amount has been electronically withdrawn from my account to pay the CC every month. So on that side I have proof and am 'good'.
I am still waiting for a year’s worth of statements from the CC, but what I have now seems interesting. It shows that for about 8 months or so I was in an 'agreed payment' mode of $85 a month which shows 'paid' every month, but it also shows a 'past due amount' balance of $493. This 'past due amount' stays the same every month for 8 months, then magically disappears without affecting the total balance and there was no extra payment of the $493. Just a slow consistent payment of $85 per month. So for those 8 months (and more) I have 120+ days late on my CR.
I am waiting on the previous year of statements so I can see when this seemingly magical 'past due amount' became a reality, and possibly how.
I entered into the $85 agreement over the phone unfortunately - nothing in writing. I just trusted that when I entered into a 'payment agreement' for $85 and paid it every month, that's how it would be reported.
Confused and aggravated - statements cost $5 per month - I am now down $120 to find out if they screwed me or not. Sounds like maybe they would remove the late payments if I wrote a GW letter after I have paid everything in full?
I also want to reopen the account when I am finished - which is soon. The account was closed by me and sounds like I have the option to reopen. I don't want them to remove the history because it is an old account.
05-07-2009 02:08 PM
Sounds like the 85$ a month did not cover the min payment and you got hit with a late fee and things snowed balled from there.
or hopefully it was a bank error.
good luck with it.
I would think that almost ever CC has a online access to your account. All mine allow me to go back at least 1 year on statements. I would have thought BoA would have online access to your account also, could have just done a print out and saved the 120.00
05-07-2009 02:34 PM
yes - BOFA allows up to 1 year back. All of these statements date before that. I had to order all of 2007 and all of 2006.
The interesting thing is there was no 'late fee'. There was just a seemingly arbritrary 'past due amount'. Then one day it was just gone.
Not sure how or why that was there. BofA won't give me any legitimate answer. They say, well it could be because of this. They don't seem to know. Hence I am collecting all the statements myself and trying to piece it together - then make my case.
I don't know what else to do or am not aware of any other path to take.
05-08-2009 03:32 AM
I would say your doing right thing. If they can not explain it.
best of luck, please inform the thread of your results, I would be interested ( just for the AHH HA factor) to know if it was a bank error.
05-08-2009 03:52 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO