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Frustration with Merrick Bank

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usofascott
Valued Member

Frustration with Merrick Bank

About to do my full mortgage application. 

 

I had a chargeoff from 2007 with Merrick Bank. they have been reporting monthly the charge off with a past due and balance due for the chargeoff amount. 

 

I contcted them and the referred me to the collection agency that was working the account. I negotiated a settlement, paid them and received the settlement agreement.

 

I contacted them again and they received the payment information and show the account settled.  But they applied the payment, lowered the balance and continue to report the chageoff with a balance due. 

 

I sent a letter to the CEO but got no response.  I called the company and got told they are reporting the chargeoff correctly and the CRA's are not reporting settled and 0 balance because of their errors.

 

I filed a complaint with FCRB about Merrick bank, but it looks like they just forwarded it to Equifax who reports that they are reporting what Merrick Bank is reporting.

 

Anyone have a number for a live person who can fix this?  or any suggestions?

 

 

Message 1 of 7
6 REPLIES 6
myjourney
Super Contributor

Re: Frustration with Merrick Bank


@usofascott wrote:

About to do my full mortgage application. 

 

I had a chargeoff from 2007 with Merrick Bank. they have been reporting monthly the charge off with a past due and balance due for the chargeoff amount. 

 

I contcted them and the referred me to the collection agency that was working the account. I negotiated a settlement, paid them and received the settlement agreement.

 

I contacted them again and they received the payment information and show the account settled.  But they applied the payment, lowered the balance and continue to report the chageoff with a balance due. 

 

I sent a letter to the CEO but got no response.  I called the company and got told they are reporting the chargeoff correctly and the CRA's are not reporting settled and 0 balance because of their errors.

 

I filed a complaint with FCRB about Merrick bank, but it looks like they just forwarded it to Equifax who reports that they are reporting what Merrick Bank is reporting.

 

Anyone have a number for a live person who can fix this?  or any suggestions?

 

 


Was this a PFD? (settlement)

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 7
guiness56
Epic Contributor

Re: Frustration with Merrick Bank

If it was a settlement it should be showing a 0 balance, 

 

You can file a direct dispute with the OC and if that gets you nowhere, file complaints with the FTC and the CFPB.

Message 3 of 7
usofascott
Valued Member

Re: Frustration with Merrick Bank

As I posted above, I have already filed a dispute with CRA, with them directly and with the CFPB.  I was hoping someone had another route I could take. 

 

Today, since they are domiciled in Utah, I looked up the Utah dept of finance and found a real Utah number for their "branch" there and called. Finally found a person there that was responsible for reporting and she was very nice, told me that they show the account settled, so if i send a fax requesting an update to the CRAs she would submit it thru e-OSCAR tomorrow.  Looks like it might just get fixed this week.

 

 

Message 4 of 7
guiness56
Epic Contributor
Message 5 of 7
kroe1
New Member

Re: Frustration with Merrick Bank

Did your score go up after they listed the account with a $0 balance and settled?

Message 6 of 7
jrim4169
Established Member

Re: Frustration with Merrick Bank

Bump

Starting Score (8/2013): 575
Current Score: 658
Goal Score: 700


Take the myFICO Fitness Challenge
Message 7 of 7
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