AGAIN BOA 120+ Days on Settled accounts and no resolve.

[norcimo]

It seems BOA does this on purpose. I need info on how to fight back

I had a short Sale back in 2009. The account (2 mortgages) l, were with Nationpoint.. they were bought by BOA.

During the ShortSale, the accounts went thru  30- 60 -90 -120 -180 days  late and then CF  "charge off" when the sale was finalized.

But they failed to mention the account was "setteled for the less than the original amount" though the balance is currently Zero.

in the process of getting the accurate information on the Equifax, tI submitted they fix this right away and add the proper comment. All this

time I have been struggling in getting car loans and credits with decent rates aand rejection simply due to the charge off, but no explanation it was settled.

So I request them to fix it, and They did. but..

Know the are reporting, that both accoutns are 120 days late, and its been like this for 3 months! and they are saying they have no records of the Shortsale and they wont change it unless I can proof to them the money for the short sale was deposited to them. **bleep**????? I have all the paper work, but they wont accept it, the want me to contact the new buyer and have them send information, in the meantime im getting a bigger hit on my  Equifax, cause the status of the both accounts changed from  CO , to  120+ late..my score was hovering around 635  before, and know its 538..  and only Equifax seems to have this problem, the other two credit reporting agencies are reporting it correctly.  BOA is delibrately doing this ..this has to be illegal?

Please I need help? Can I sue them?

[llecs]

Comments like "was 120 days past due", "was a charge-off", "paid for less than full", "settled...", "charge off", and others are scored equally by FICO and viewed the same by lenders, provided the balance is $0. A settled baddie is no better than an unpaid baddie and is no better than a baddie paid in full...on a scoring standpoint. Creditors view it the same too. However, if they are reporting a balance when it was paid or report a late after it was paid or settled, then that's a no-no. They can have a mention that the account was 120 past due because it was, but they can't add future lates post-settlement. You could sue for damages if that's the case, provided you show how much $$$ you lost. Might be a FCRA issue there too.

Whenever you have a baddie update due to a dispute, request, etc., you are trading one baddie for another and that can cause a score drop if the TL hadn't updated in a long time. I'd send BofA GW letters asking for a deletion.

[norcimo]

Thank you for your response.

I was able to contact the proper branch at BOA , somewhere in NC. And I have names and the address. I will be sending them a cerified letter. Once I have all the information at my hand and proof, I will need to contact a lawyer.  Can you recommend someone?  They have completly ignored every request, and know they are reporting it to all 3 CB, accounts that up until june this year, has "0" balance, STATUS of "CO", the hisitory shows I went thru the 30-180 days progresion, never the  less, they are repoting a STATUS of, 120+ late.

[llecs]

We can't give lawyer recommendations on here so as to prevent spammer, but find a consumer attorney near you if you feel you need an attorney. Based on what you posted, I don't think they are in the wrong. The status of CO and/or 120 days past due is accurate if ever, at any point in time in the past, there was a 120 day or worse late. Before you contact any lawyer, I strongly recommend GWing them. Although it is uncommon, there are some GW success stories with BofA. Once you involve lawyers, then that bridge gets permanently burned.

[norcimo]

I don't have an issue with the status of the being CO, cause that is the truth. However, before this, the account went thru a 30 -180 days late progression, until it was settled, then the status updated to CO.  During this time, when credit was checked, I never had "serious deliquency" line come to effect.

Today, the status of these settled accounts is 120+ days late and know when credit is ran, I get "SERIOUS DELINQUENCY" and my score has dropped.

keep in mind these accounts already show that in fact they have gone thru 120 days late, transition it shows it in the history.

So please explain why you feel they are correct reporting this way? They were reporting it as CO before...but they changed it when an query was ran to update the comments.

[p-]

---

@norcimo wrote:

 I will need to contact a lawyer.  Can you recommend someone?  

---

Are you in California?

[norcimo]

Sorry I did not get back to you.. Im in Florida.

[norcimo]

The Latest events.

Ok, so I took all the documentation, labeled with exhibits, explaing the issue, letter of intent, Investigation results, and latest credit reports,  old credit reports showing the correct PAY STATUS, copies of turned down applications due to "SERIOUS DELIQUENCIES" 120 DAYS LATE on PAY STATUS., letter explaining the PAY STATUS of 120 DAYS LATE on loans that are ZERO Balance  and that are setteled and already gone thru the 120-180 days transition.

I mailed them ceritfied letter with return reciept.. 2 weeks ago.  I will wait 2 more weeks.

So far BOA, has not responded. Im in Florida, if anyone here can assist me, please feel free to contact me.

[norcimo]

Well here it is:

DONE.  BOA REMOVED ALL ACCOUNTS this is better than what I wanted. . This was amazaing. Success! It seems that the documentation that was sent, really did a number on them, Particularly the way it was prepared.  It occured to me, as I was threatening them to court, I prepared the documentation in a way like a court clerk would do. with exihibtions, arrows, everything tabbed with dates..copies of emails andt transactions etc..etc..  Pretty much it was identical to a court package a letitgation counsel submits to a court. BOA removed all the acounts from all 3 cbs..

Some one mention that threats with courts and sueing does not work and makes it worse, welll in my case It paid big time. It you doing everything properly and documented, you can. I was prepare for it. I hope this helps for those folks going thru something simular.

Thanks for all the help and responses.

[Shogun]

Happy Dance!