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Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

MBNA bought by Bank of America and re-aged in the process

Ok, I have a very confusing sitution... I say that because it even took me months to figure out so I will try to make as simple as possible.

 

Back in the late 1990's I had a MBNA credit card AND Bank of America Credit card.

 

In 2006 Bank of America bought MBNA. So their system technically has 2 accounts for me now.

 

Ok, so my initial MBNA card went deliquent around 2000-2001 time frame and the debt was bought by a CO called "The Bureaus".  I never again made payments on it. It dropped off TU and EQ about 2 years ago but when I pulled a EX report recently, "The Bureaus" is now reporting this account. I disputed and it came back verified. My lender contacted EX directly and they said mit was verified and my last payment was made on 9-05 but could not verify any other data.

 

What I figured out was that I had made a payment to my inital Bank of America card around 9-05 but it now appears that this other account that was initially MBNA is using that date as a last payment and has re-aged this account allowing it to continue on my credit report for another 2 years.

 

Anyone else have something like this happen where you were able to get it resolved.


All EX will say is that it was verified even though that date is wrong. They basically are just taking the companies word with out proof.

 

And... I no longer have statments for either account so do not have that proof on my end.

 

Anyone that may have had this happen that was able to get it removed please let me know what you did.

 

 

 

 

 

Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

Re: MBNA bought by Bank of America and re-aged in the process

As a note, Experian had sent my lendor the name and phone number where the information was verified. I called the number just now, its not the CO or the OC. Its a law firm.

 

So how can they verify a debt with out even calling the CA or OC but calling some 3rd party.

 

This seems even more fishy.

Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

Re: MBNA bought by Bank of America and re-aged in the process

Ok. I have been doing a lot of reading and found something..... FCRA, Section 611 see below.

It states if the CRA "verifies" your dispute you can request "a description of the procedure used to determine accuracy and completeness". So, today I requested this. Experian had contacted a 3rd party to verify that was not he OC or the CA so I quested the validity of their "investigation" based on the fact that they called a 3rd party that would not be able to provide any proof of accuracy having only limited information.
 
And, since I also called the OC and asked for statements showing the balance before and after the last payment they "claim" I made and was told they were not able to provide anything other than a date in the system.. I am hoping my issue will be resolved since clearly they can not provide any proof.
 
Additionally, they have to respond with in 15 days of receipt so once I get notice it was received, I will be counting the days. If they can not provide valid proof that they received accurate information they have to legally delete the trade line.
 
So I will post my results in later for anyone in the same boat. 
 
 
But below are the excerpts from the FCRA
 
 
FCRA, Section 611:
 
(6)(B)(iii) a notice that, if requested by the consumer, a description of the
procedure used to determine the accuracy and completeness of the
information shall be provided to the consumer by the agency,
including the business name and address of any furnisher of
information contacted in connection with such information and the
telephone number of such furnisher, if reasonably available;
 
(7) Description of reinvestigation procedure. A consumer reporting agency shall
provide to a consumer a description referred to in paragraph (6)(B)(iii) by not
later than 15 days after receiving a request from the consumer for that description.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: MBNA bought by Bank of America and re-aged in the process

Ignore the date of last payment. That has zero to do with how long something would report. The important date is the DOFD. This is the date you first went delinquent and never ever recovered. Per the FCRA, delinquent accounts cannot report for more than 7-7.5 yrs from DOFD. If you think your DOFD was in 2000-2001 and you never ever recovered w/ BofA, then the CA is illegally misreporting the DOFD (called re-aging) since it should have been permanently removed by 2008. Are you 100% certain as to the DOFD? If so, try pulling your report directly from Experian.com (or via annualcreditreport). That report should list a drop off date by which to get a rough estimate on the DOFD. Let us know if you find anything. In the meantime, I would call and bug BofA for this info. I'd ask for the last few statements and that could show DOFD.

Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

Re: MBNA bought by Bank of America and re-aged in the process (SUCCESS!!!!!!!!!!)

Well, I finally got good news today so I am sharing with all of you....

 

I had sent a letter to the CA to dispute their 'Verificication" of my dispute per section 623 (see below). They have by law 30 days to respond (see below).

 

They then they updated my file with the same information days before the deadline so I was concerned, found the email address for the companies CEO on the BBB site. Emailed him, attached a copy of the letter I sent, and the details about the confirmation of receipt and a reminder of the laws and that not only could I sue if they dont respond but that I would. See that email below... He actually replied and said his team woudl look into it.

 

Then today I got this email from someone at the company....

 

Sent: Tue, June 14, 2011 1:02:13 PM
Subject: RE: Civil liability for willful noncompliance FCRA section 616

Good Afternoon Ms. *********

 

A response to your letter was sent to you on 6/7/2011.  While investigating your MBNA Visa account, we have requested our trade line be deleted.

 

 

 

Thank you

 

*********

The Bureaus, Inc

 

 

 

 

 

 

From: *********************
Sent: Monday, June 13, 2011 10:26 AM
To: *********************
Subject: Civil liability for willful noncompliance FCRA section 616

 

********************* 

This letter (attached to include account identification information) was sent to your company and I do have the proof that it was received and signed for on May 17th, 2011.

 

The letter was a dispute with you, the furnisher, for in correct information that you are reporting on my credit report EVERY MONTH. A debt mind you that is over 10 years old yet was re aged illegally by 5 years leaving this on my credit file past the time frame allowed by law.

 

As of today, I have still yet to get a response OR has the trade line been removed. However, your company did once again update this account as derogatory just in the last few days on my Experian credit file. I think rather than update this negative information you would be better adivsed to investigate my dispute as required by law.

 

So, with that said, I wanted to also let you know that I will take legal action if this is not resolved by June 17th, 2011 (which will be the 30 days by law your company has to respond).

 

Failure to respond is considered willful noncompliance. See FCRA section 616.

 

If I do not have valid documentation (which I know you do NOT have as this account was closed in 2000 by MBNA) or this trade line removed from my credit reports no later than 17th of June, 2011, I will take legal action.

 

Not only do I have the right to dispute with you, the furnisher directly, you are required to investigate and RESPOND with in 30 days. And failing to do so allows me the right to sue for willful non compliance in which case, I can SUE you for up to $1000. And trust me I will!

 

So you can remove this trade line or I will see you in court and I will win. We both know you have NO proof as this account was not paid on September 2005 TO MBNA MASTERCARD.

 

*********************

Account Number *********************

 

See below for the FCRA regulations just in case you are not familiar.

 

 

 

§ 623. Responsibilities of furnishers of information to consumer reporting agencies

[15 U.S.C. § 1681s-2]

(a) Duty of Furnishers of Information to Provide Accurate Information

 

(8) Ability of Consumer to Dispute Information Directly with Furnisher

(A) In general. The Federal banking agencies, the National Credit Union Administration,

and the Commission shall jointly prescribe regulations that

shall identify the circumstances under which a furnisher shall be required to

reinvestigate a dispute concerning the accuracy of information contained in

a consumer report on the consumer, based on a direct request of a consumer.

 

(E) Duty of person after receiving notice of dispute. After receiving a notice of

dispute from a consumer pursuant to subparagraph (D), the person that

provided the information in dispute to a consumer reporting agency shall--

(iii) complete such person's investigation of the dispute and report the

results of the investigation to the consumer before the expiration of the

period under section 611(a)(1) within which a consumer reporting

agency would be required to complete its action if the consumer had

elected to dispute the information under that section; and

 

 

611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

(a) Reinvestigations of Disputed Information

(1) Reinvestigation Required

(A) In general. Subject to subsection (f), if the completeness or accuracy of any

item of information contained in a consumer's file at a consumer reporting

agency is disputed by the consumer and the consumer notifies the agency

directly, or indirectly through a reseller, of such dispute, the agency shall,

free of charge, conduct a reasonable reinvestigation to determine whether

the disputed information is inaccurate and record the current status of the

disputed information, or delete the item from the file in accordance with

paragraph (5), before the end of the 30-day period beginning on the date on

which the agency receives the notice of the dispute from the consumer or

reseller.

 

 

616. Civil liability for willful noncompliance [15 U.S.C. § 1681n]

(a) In general. Any person who willfully fails to comply with any requirement imposed

under this title with respect to any consumer is liable to that consumer in an amount

equal to the sum of

(1) (A) any actual damages sustained by the consumer as a result of the failure or

damages of not less than $100 and not more than $1,000; or

Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

Re: MBNA bought by Bank of America and re-aged in the process

and, as a note, this section 611 was a waste of time..

 

so anyone that may be in a similiar boat, dont waste the time. they just sent me some BS generic response.

 

Just to right to the furnisher, include the laws and email the CEO if you need to. You can get those on BBB.

 


shellzscores wrote:

Ok. I have been doing a lot of reading and found something..... FCRA, Section 611 see below.

It states if the CRA "verifies" your dispute you can request "a description of the procedure used to determine accuracy and completeness". So, today I requested this. Experian had contacted a 3rd party to verify that was not he OC or the CA so I quested the validity of their "investigation" based on the fact that they called a 3rd party that would not be able to provide any proof of accuracy having only limited information.
 
And, since I also called the OC and asked for statements showing the balance before and after the last payment they "claim" I made and was told they were not able to provide anything other than a date in the system.. I am hoping my issue will be resolved since clearly they can not provide any proof.
 
Additionally, they have to respond with in 15 days of receipt so once I get notice it was received, I will be counting the days. If they can not provide valid proof that they received accurate information they have to legally delete the trade line.
 
So I will post my results in later for anyone in the same boat. 
 
 
But below are the excerpts from the FCRA
 
 
FCRA, Section 611:
 
(6)(B)(iii) a notice that, if requested by the consumer, a description of the
procedure used to determine the accuracy and completeness of the
information shall be provided to the consumer by the agency,
including the business name and address of any furnisher of
information contacted in connection with such information and the
telephone number of such furnisher, if reasonably available;
 
(7) Description of reinvestigation procedure. A consumer reporting agency shall
provide to a consumer a description referred to in paragraph (6)(B)(iii) by not
later than 15 days after receiving a request from the consumer for that description.


 

Contributor
ssghandless
Posts: 101
Registered: ‎07-30-2010
0

Re: MBNA bought by Bank of America and re-aged in the process

Did you ever get this resolved? Whom did you contact? I am in the SAME boat with Bank Of America!



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Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

Re: MBNA bought by Bank of America and re-aged in the process

Yes, see my response above that I noted about that.... Its been deleted....

Member
shellzscores
Posts: 17
Registered: ‎03-30-2011
0

Re: MBNA bought by Bank of America and re-aged in the process

But quick question, is your debt still with BofA or a CA? It will be a different process if that is the case... Let me know. I was dealing with the CA. I do have the same letter pending with BofA (sent to address on my credit report) but they have till July 17th to respond...

 

I will post my updates on them next month.

New Member
droque18
Posts: 1
Registered: ‎03-06-2011
0

Re: MBNA bought by Bank of America and re-aged in the process

I'm in a similar situation but my debt is with BOA according my CR and not a CA. I pulled a copy of my CR from annualcreditreport.com and my DOFD is Aug 2004. So techinically this should fall off next month according to the SOL for MD but the report says it is continued to go on record until Jan 2016. Should I send a dispute letter to BOA citing sections 611/623?


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