Bank of America

[Doppler3D]

Hi,

I have a question regarding a Bank of America Credit Card, and my chances of getting them to do a "Pay-To-Delete".

This account has reported 30 days late (3) times, 60 days late (2) times, and 90+ days late (24) times. The current status of the account is 90 days past due, and it reports the same every single month.

Even though I am enrolled in a payment plan with Bank of America, and pay $160.00 per/month, it never reports as "Paid as Agreed".
The account is listed on my credit report as "Account closed at consumer's request".

When I called regarding re-opening this account, they stated that when I enrolled in the payment plan, I accepted that the account would be closed permanently. Given my current balance, if they re-opened the account, my monthly payment would actually be lower than what I'm paying now, even at the highest possible interest rate.

So even though I make the agreed upon payment on time, every single month, it's like they aren't giving me any credit for it. It also bothers me that I was lied to when I enrolled in the payment plan. When I enrolled, I was told verbablly that when my financial situation improved, they would be more than happy to re-open the account. I suppose that's why it's a good practice to get everything in writing.

My current balance on the account is $4,376.86. It was around $7,000.00 before I got on the payment plan. So I have been making good progress at getting thing thing paid off. But I am wondering, has anyone had any success with writing a "Pay-To-Delete" letter to Bank of America? Since my financial situation has greatly improved, I would be willing to write them a check for the full amount if they will delete the account from my credit report.

Thanks

[Creditaddict]

Even if they won't delete it if you can afford to just write a check, that would stop this 90 day late thing from continueing.  I would call customer service and get transferred over to the reps that handle the payment plan for accounts and talk to them about the 90 day late reporting.  I though that was half the point of these debt agreement plans was to stop the delinquencies from happening

[IOBA]

Before all else, I would call Bank of America and ask them to resend the payment plan agreement.   You can tell them you want to make sure you are following the rules exactly.   You can also tell them you might be able to pay it off sooner, but want to make sure that won't hurt you.

Once you have the terms, let us know.   

Bank of American is NOTORIOUS for reporting lates when there are none, while on a payment plan.  

So, my suggestion for fighting it is to have the terms in front of you first.   Understand the terms.  If the bank is reporting incorrectly based on the repayment plan, you can show them their rules and ask them to correct it.

[syl]

That is exactly what BOA did to me but they will not take those late reportings off even if you call them.

[Zillarex]

I have the same problem with bank of America.  payment plan 150.00 a month..............Several 90 days lates.  Ive called many times and they wont change it and I have made timely payments for 3 years never late since enrolling in that program.  Have you had any luck with them?