B of A reporting Misleading TL

[ChemGuy]

I have a loan with B of A that was legitimately charged-off (the only negative that's actually mine!)  Anyway, it was a $700 signature loan that is being reported as a MORTGAGE / Real Estate TL.  The problem here is that I've never owned a home so could not have mortgaged anything.  When I signed the loan I did write that it was for home improvement, but not HOUSE improvement (my rental is my home...I wasn't trying to be duplicitous).  Anyway, the problem here is that it shows as a default on previous mortgage, which carries peculiar weight when applying for a true mortgage.  Do I have a position for delete?

If so, I know for fact that all CRA's will return it verified and B of A gives a crap about customers...so what's the actual mode of action that I should take?  Thanks

[Anonymous]

It IS BofA reporting - so an OC reporting.

If you haven't already, dispute with the CRAs then when verified send the following letter that asks for an INVESTIGATION (OC are not required to validate a debt only CAs) - You may want to tweak for the fact that it is reporting as a mortgage rather than a loan.

Company

Address

Address

Date

Re: Acct #xxxxxxxxxxxxxx

To Whom It May Concern:

I recently pulled my credit report from Experian, Equifax and TransUnion and noticed this account was listed on each of my reports as a collection I immediately disputed this information with Experian, Equifax and TransUnion and the results of the investigation came back as "verified

Since I have disputed the account with the credit bureaus, and you have verified them, I would like to see what sort of records you have for this alleged account. Under the new FACTA laws, you are required to conduct an investigation on this account, and I am now requesting it.

In order to clear up this matter, I would like to see:

Complete account history, including, all statements, records of all activity, payments, collection attempts, and any charges added for collection activity; In short, any and all documentation pertaining to this account

 If you don't respond with the results of the investigation (as is required per the FCRA), I will assume you have no documentation and therefore you were negligent in providing the credit bureaus with accurate information. At this point, you would also be in violation of the FCRA merely for not responding within the 30-day period.

Please send all correspondence to:

Name

Address

Address

Sincerely,

DO NOT SIGN......JUST TYPE NAME