08-31-2012 09:25 AM - edited 08-31-2012 09:25 AM
Here's my draft letter to BoA...(true story by the way...just happened)...
I am writing today regarding my credit card account # XXXX XXXX XXXX XXXX. The purpose of this letter is to see if you would be willing to make a goodwill adjustment on the reporting of this account to the three credit agencies.
This card was opened back when I was a high-school student. The card was for my first part-time business (freelance web designer), and as I got older (and grew out of the web design business), I filed the card away in my dad’s home office. Several years later (almost 10 years) my dad fell on hard economic times, found my credit card, and began to run-up the balance. It was only recently that my dad confessed this to me. Upon receiving the news, I pulled my credit report and was devastated to find out that his use of the card, and lack of payment, have had devastating consequences on my personal credit. I’m engaged and trying to start a debt free life. Immediately upon learning of the delinquent account, I personally paid off the debt that my dad had accrued (unbeknown to me). Although I had absolutely no clue that the card was being used, I took responsibility for my dad’s reckless behavior and paid the account in full.
I am asking (begging?) for a courtesy gesture of goodwill in having the credit bureaus remove all late payments on this account from my report. My fiancé and I are about to purchase our first home together. They say opposites attract; and in this case it's true. My fiancé has an A+ score on her credit report, while mine has been damaged by my own father’s dishonest use of the card. I'm horrified that my fiancé’s years of financial sacrifice are about to be undone by my dad’s stupidity. This is the one and only account in my entire credit history that shows any delinquencies whatsoever – and this account is not a good indicator of my credit worthiness, and certainly no reflection of my fiancé’s credit worthiness.
Further, I (personally) have been a long-time Bank of America account holder (going on 11 years I believe). In fact, I have other accounts with Bank of America, none of which have ever been delinquent – ever!
I recognize that the Fair Credit Reporting Act does not demand that all accounts be reported, only that any account information that is reported be reported accurately. Therefore, it's my understanding that Bank of America has the legal discretion and permission to remove the late payments on my account, from the credit report, if it chooses to do so.
I'm pleading that you will do that in my case.
Anyone have an email address and mailing address for BoA I can send this to? I've already emailed the CEO, but no response (it's been a while).
(I've scoured the forums, and PM'd people requesting this info, but I've only gotten one response)
09-04-2012 06:40 AM
The GW looks fine, I try to keep them as short and sweet as I can. They don't like to read books. Have you done a search of the boards for BOA contacts?
09-04-2012 06:54 AM
Thanks for the feedback. Yes, I've done several searches. I've actually compiled a list of contacts (but they're just generic BoA mailing addresses - no names)...coincidentally, I just got a call back from the President's office. The woman indicated that she'd look into it, but "couldn't make any guarantees." I was hoping someone on here would have a name w/ phone number and extension so I could contact "the" person who could make this happen. I've seen several people claim they have this info, and they appear to be PM'ing other forum members - but the problem is, those posts are from months / years ago, and I don't think those members are active here any more.
I was hoping that one of the (current) forum members would see my post, and share some good contact info.
Keeping my fingers crossed!
09-04-2012 07:27 AM
The card would have expired long before your father found it. How did he get his hands on a valid card?
Lenders don't seem to like hearing that you forgot about your account, didn't update your mailing address, or didn't get any statements. BofA seems to be particularly difficult to GW.
I would think a police report for ID theft is your best chance of getting this off your reports.
09-04-2012 08:42 AM
Good questions. I'm not too sure why the card didn't expire - I'm guessing that the card was renewed by my dad (i.e. BoA sent a new card to their home address, where I lived while in highschool, he opened the envelope, called and activated the card?).
As upset as I am about the situation, I have no interest in "pressing charges" against my own dad. I can "disown" him as a father, but having to go to the police would take it to an unreasonable level (for me at least).
I haven't exactly been communicating with my dad since he called me about this three weeks ago. I figured I'd try pleading my case with BoA, and then if that doesn't work, consider my options.
I'm so pissed at my dad right now, I'd rather not speak with him if I don't have to.
09-04-2012 07:14 PM
I've had bad luck contacting the CEO regarding my account. I settled in full back in 08. They are reporting 3 different sets of information to the reporting agencies in terms of status and history, and they refuse to remove or change the account even after a 623 letter spelling out the errors or a BBB submission. The woman, Mrs. White, (from the offices of the CEO) was less than helpful or willing. Keep in mind they keep documentation on your correspondence.