Okay last week, I posted about my BOFA account which happens to be the last and only negative on my report. So over the weekend, I put my thoughts and plans together and executed it this morning. Mind - my situation is quite different and may not apply to majority. I had the Bank Americard Cash Rewards that charged off in December 2013 with multiple lates (30 thru 180days) from January 2013 up till the point it charged off. So after being on the phone for close to an hour, this nice lady came through. Well a little background about this account - when I first opened it I enrolled the card in the BOA Credit Protection Plus Plan. I never had a need to request any benefit under the plan and I always paid on time.
Sometime in January 2013 when things got a little tough and it first went late, I contacted Credit Protection so they can activate my coverage which would have covered me for 18months. But for some reasons it wasn't approved or was never processed so the account kept on accruing lates as much as 180days till it finally charged off. So fast forward, just last week I got my approval from Credit Protection and according to the letter they said they would go retroactive from the first day the account became late till present. Now while on the phone with the lady from BOFA she said I should send in a copy of my approval letter from Credit Protection and once they receive it, they would remove all the lates from the first delinquency till date, reverse the Charge Off and pull it back from Collections. Then she asked me if I would like to have the account reopened and of course I said sure. Then she said that will take up to 5-7 business days so I can either call back to check on the status or if it's approved I will receive a new card in the mail instead. So that's about it....
Getting ready to go mail off the Credit Protection Plus approval letter they requested and just hope it turns out well! Kinda nerve wrecking.....
