Help! BofA verified to CRA incorrectly and dropped score 65 points!

[myfico5378]

I recently disputed late pays on my BofA account that were IIB in 2002.  The late pays were after I filed BK.  BofA verified to TU and changed the account closed date from "Not reported" to 04/2008.    Now, I wish I had just let them sit until they fall off next summer, but what can I do to get this corrected?  The account was closed when I filed BK in 2002.  My other BofA account shows the correct date of 07/02. 

Apparently, FICO now thinks that my most recent late pay date was 04/08.  It dropped my score 65 points.  My TU report in April said "Your most recent late payment happened 5 years, 9 months ago".  Now it says, "Your most recent late payment happened 2 months ago".  The weird thing is when I look at the details on the account on myfico, it doesn't show any late pays in the 7 year history.  So, apparently, it's just the fact that they are showing the account closed in 04/08 and IIB??

Somebody please help!  I've worked too hard to pay my bills on time and recover from the BK to get knocked down 65 points for nothing!

[Anonymous]

There are two fronts to address here.

#1 is Bank of America's mistake on when the account was closed.  Other folks who have dealt with them might have better information on back door phone numbers and addresses, but I would get on the phone with them and find out what their process is for correcting incorrect information.  Since TU already "verified" with them, the next step is to sort it out with the Original Creditor.  Lots of folks on these boards say to always go to the OC first, but in my experience, I only go to them when they won't fix it.  At the point you have an address, you should send them your documentation of when the account closed, etc.

#2 is the glitch between FICO and TU.  This doesn't get talked a lot about on these boards, but I know it must be a problem that other people have.  I had a student loan account that was reporting on EQ & EX as having gone to collection in 4/07.  MYFICO counted that as a late payment.  I was on the phone for HOURS with EX, EQ & MYFICO, with MYFICO telling me that they can only count what is reported, and EQ & EX saying that they were not reporting a late payment in 4/07, only a shift to collection.  (Of course, the back story is that the account actually became a collection account in 10/06).  Eventually, I got MYFICO to "escalate" the issue to their designers and developers--this is a software problem.  It's been over a week, and I haven't heard anything back from MYFICO yet.  Probably tomorrow I will call the guy I spoke with to find out what the status is, because as a late payment this is obviously impacting my scores.

Weirdly, my OC would not work with me until I sent them the documentation of what the CRA's and MYFICO was reporting, because they swore up and down that they were not reporting any late payments or collection status in 2007.  I had to scan everything in and send it to them in pdf, and then fax it to them.  Seriously, it was my job for like a week.  ANNOYING!!!

[myfico5378]

First, thank you for replying! 

I really hate dealing with BofA on ANYTHING, but I suppose that I must try to go to them to get this sorted out. 

My other concern is that if they do change the closed date, will they then change the status date causing the same problem that I've just been reading about? 

Please let me know the outcome of your inquiry to FICO.  I really think it's absurd that they are randomly reporting false late payments based on closed account dates or status dates instead of looking at the fact that there are NO LATE PAYMENTS in the 7 year history or that it was IIB.  How can they report late payments from 2 months ago on an account that was IIB almost 6 years ago??

I'm not planning to seek credit for the next year and these are all scheduled to fall off of TU in 05/09, but what if there is an emergency and I need credit?!

[athensguy]

If it's important, you follow through. You already disputed, and it was verified, so you send MOV to the CRAs, and send the OC letter to the OC. If nothing gets fixed then, depending on the number of violations and the small claims limit in your state, you either file in small claims or federal court. They are also in violation of BK law, but I am not that familiar with penalties on that. You could ask in the BK forum. Your lawyer for your BK could draft a letter for you.

[Anonymous]

myfico5378-

What I suggest you do is contact TU, either via fax or mail. Explain that the date closed is not accurate, this account was closed back when you BK was filed. You can go ahead and include documentation to prove this, but they should be able to look and see this. I would include the documentation to be on the safe side. Tell them you want the date closed reported accurately as it is affecting your score.

Good luck and keep us updated.