topic Re: Am i in the wrong or them? BOA 30 day lates in Rebuilding Your Credit

Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Tue, 08 Apr 2014 17:44:44 GMT

So a little bit of background.

Around January-February 2012, i was having some major money issues, going through court for child custody and EXTREMELY under employed, going from temp job to temp job.

With both of my of BOA cards maxed out and no way to pay anything more then the minimums i reached out to a Debt Management company....They agreed to take me on as a client and sent out notice to my credit card companies, on April 2, 2012, that i would be working/paying through them from now on, and they got my Minimum payments and APR's cut down to a 1/3rd of what they were....

So a Timeline.

March 16, 2012 Statement says - Minimum payment due $67, Payment Due Date 4/12/2012

April 5, 2012 BOA Receives documents to lower minimum payments to $41 and lower APR to 7.2%

April 14, 2012 Payment made of $41.

April 14, 2012 Statement says - Past Due amount $26

Now, somehow, that $26 has followed me and added 30 day lates on 4/12, 5/12, 7/12, 11/12, 12/12, 1/13 & 2/13. This same thing also happened for my other BOA account, same dates, except for some reason, they only reported TWO 30 day lates (2/13 & 3/13)

So what i'm trying ot figure out is.....Do i dispute these lates as WRONG, or do i send a goodwill letter to BOA taking blame for them? Are they my fault?

Re: Am i in the wrong or them? BOA 30 day lates

Shogun — Tue, 08 Apr 2014 20:00:07 GMT

I went through a DMP myself years ago. I feel it was one of the worst mistakes I'd ever made. Took a not so good CR and turned it into an absolutely horrible one. All my lenders cancelled, did immediate COs. It was a mess. I realize there is the YMMV type of thing going on, but this was my situation.

Re: Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Tue, 08 Apr 2014 20:18:16 GMT

Yup, I seem to only be able to get CreditOne and CapitalOne to give me cards....I've tried everyone else and i get shot down quick....While, I can't 100% prove this is because of the DMP's(i also have high utility, many inquiries & those 30 day lates), but i'd bet it plays a roll in atleast some of those denials.

Re: Am i in the wrong or them? BOA 30 day lates

Shogun — Tue, 08 Apr 2014 20:23:10 GMT

I had a few creditors come right and and tell me that's why I was denied. And this was after I had finished the DMP and had everyone paid off.

Re: Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Tue, 08 Apr 2014 22:32:00 GMT

So what do you think shogun?

Should i call up bank of america and dispute these 30 day lates as false and insist they fix this immediately, since the agreement with the DMP and them was entered before the bill's due date?

Should I assume that i'm in the wrong, since the statement for the bill was released before the agreement was received by BOA and write a letter begging BOA for a GW adjustment?

What's the defining date? The statement date or the 'due by' date?

Re: Am i in the wrong or them? BOA 30 day lates

nexace — Tue, 08 Apr 2014 22:41:34 GMT

You should absolutely write them explaining the situation and providing backup documentation. I think you have a high change of at least getting the majority of the lates removed. Only question I can see popping up is "why didn't you so it sooner?"

Re: Am i in the wrong or them? BOA 30 day lates

RobertEG — Wed, 09 Apr 2014 02:16:46 GMT

You have a billing issue on a credit card.

I would first consider a filing a dispute under the Fair Credit Billing Act in addition to or rather than a dispute of their ultimate credit reporting under the FCRA dispute process.

The FCBA dispute process has more stringent requirments relating to documentation from the creditor that are not part of an FCRA dispute.

As an aside, the one minor but clear error I see in thier reporting relates to their first reported delinquency.

Their billing statement set a billing due date of 4/12/2012. Delinquency on an account does not become a reportable 30-late to a CRA until 30 days past the billing due date.

Thus, that first 30-late is only a late under the account agreement, not a reportable 30-late.

Re: Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Wed, 09 Apr 2014 04:21:57 GMT

@RobertEG wrote:
As an aside, the one minor but clear error I see in thier reporting relates to their first reported delinquency.
Their billing statement set a billing due date of 4/12/2012. Delinquency on an account does not become a reportable 30-late to a CRA until 30 days past the billing due date.
Thus, that first 30-late is only a late under the account agreement, not a reportable 30-late.

That didn't even click for me that the first 30 day late was too early....Let me add some information just to double check i didn't screw something up, this is an overkill amount of information, i'm just not 100% sure how to link up statement dates from BOA with the dates reported on MyFico.

Statement date: Jan 15 - 14, 12 Payment of $67 made on 1/31, Next payment of $68 due 3/12/12

Statement date: Feb 15 - March 16, 12 Payments of $68 & $183 made on 2/15 & 3/18, Next payment of $67 due on 4/12/12

BOA Recieves Agreement from DMC on April 5, 2012

Statement date: March 17 - April 14, 12 Payment of $41 made on 4/14, Past due amount $26, next payment of $67 due on 5/12/12

Statement date: April 15 - May 15, 12 No payment on this statement, Past due amount $67, next payment of $108 due on 6/12/12

Statement date May 16 -June 15, 12 Payment of $41 made on 5/16, Past due amount $67, next payment of $108 due on 7/12/12

Statement date: June 16 - July 16, 12 Payments of $41 on 6/16 & 7/14, Past due amount $26, next payment of $67 due on 8/12/12

Statement date: July 17 - August 15, 12 No payment on this statement, Past due amount $67, next payment of $108 due on 9/12/12

Statement date: Aug 16 - Sept 15, 12 Payments of $41 made on 8/16 & 9/16, Past due amount $26, next payment $67 due 10/12/12

Statement date: Sept 16 - Oct 16, 12 Payment of $41 made on 10/16, Past due amount $26, next payment of $67 due on 11/12/12

Statement date: Oct 17 - Nov 14, 12, No payments on this statement, Past due amount $67, next payment of $108 due 12/12/12

Statement date: Nov 15 -Dec 14, 12, Payment of $41 made on 11/16, Past due amount $67, next payment of $108 due 1/12/13

Statement date: Dec 15 - Jan 15, 13, Payment of $41 made on 12/15, Past due amount $67, next payment of $108 due on 2/12/13

Statement date: Jan 16 - Feb 14, 13, Payment of $41 made on 1/16, Past due amount $67, next payment of $108 due on 3/12/2013

Statement date: Feb 15 - March 15, 13, Payment of $41 made on 2/16, NO MORE PAST DUE, Next payment of $41 due on 4/12/2013

MyFICO reports lates on this account as: (I've made bold the statement dates above that i *think* these months correspond with)

April 2012, May 2012, July 2012, November 2012, December 2012, (January 2013 on TU and EQ not EX), (February 2013 only on EX)

Do i have the right statements put in bold?

Re: Am i in the wrong or them? BOA 30 day lates

youdontkillmoney — Wed, 09 Apr 2014 04:33:17 GMT

@Ridewithme38 wrote:
So a little bit of background.

Around January-February 2012, i was having some major money issues, going through court for child custody and EXTREMELY under employed, going from temp job to temp job.

With both of my of BOA cards maxed out and no way to pay anything more then the minimums i reached out to a Debt Management company....They agreed to take me on as a client and sent out notice to my credit card companies, on April 2, 2012, that i would be working/paying through them from now on, and they got my Minimum payments and APR's cut down to a 1/3rd of what they were....

So a Timeline.

March 16, 2012 Statement says - Minimum payment due $67, Payment Due Date 4/12/2012
April 5, 2012 BOA Receives documents to lower minimum payments to $41 and lower APR to 7.2%
April 14, 2012 Payment made of $41.
April 14, 2012 Statement says - Past Due amount $26

Now, somehow, that $26 has followed me and added 30 day lates on 4/12, 5/12, 7/12, 11/12, 12/12, 1/13 & 2/13. This same thing also happened for my other BOA account, same dates, except for some reason, they only reported TWO 30 day lates (2/13 & 3/13)

So what i'm trying ot figure out is.....Do i dispute these lates as WRONG, or do i send a goodwill letter to BOA taking blame for them? Are they my fault?

^^^

Definitely write (not call) your bank for documentation purposes and explain how you explained here that you paid the minimum as agreed and ask them to delete the negatives from your credit report. See what their response is. *If your debt mgt co. is not doing right by you consider cutting them out and finding another or call the bank directly yourself. Ultimately no matter what company you retain to help you manage the dbet payments, YOU are ultimately in the driver seat or should and should be proactive and stay on top of everything. This happened to my family member where the bank made a mistake and had to write them to go back and forth via phone and verifying it was deleted on the credit report to verify what they did as agreed.

Re: Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Wed, 09 Apr 2014 17:19:40 GMT

Ok, spoke to...a fairly nice....women today at FIA Card Services, in the 'escalation department' just now at BOA....I've got a Case number and she is doing some research for me....

It seems possible that, even though, the agreement was entered with the DMC on April 3rd(the date she said it was accepted by BOA) that the lowering of the Minimum payment may not have been entered until the following statement date. That would make that $26 a valid late payment.

I'm still trying to make sense of the mess i listed above...These 30 day lates are the only 'negatives' on my CR, well, besides a HIGH utility(which i'm fixing) and too many inquiries in the last month. So i really want to get them fixed!

Re: Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Wed, 16 Apr 2014 16:10:00 GMT

Amazing, but, confusing phone call today from BOA....I've been hounding them for weeks, calling everyday, I had no less then 3 departments, working independentally on my 30 day lates.....None had any idea the other was also working on it.

Today, one of the better people i had spoken on the phone to called me back.....They are going to remove 6 lates from my credit report! Overjoyed and at work, only knowing i had 6 lates on that account, plus, a little afraid to say anything that would change the result, i thanked her continuously and rushed off the phone. I did remember to ask for her to mail me some documentation on this.....

BUT...

After getting off the phone, i came on here and checked the previous credit report that i had bought from MyFico....My 6 lates are...

April 2012, May 2012, July 2012, Nov 2012, Dec 2012, Jan 2013(On EQ & TU) & Feb 2013 (On EX)

Here are the ones BOA said they would remove:

May 2012, June 2012, Aug 2012, Nov 2012, Dec 2012 & Jan 2013

I don't know what the deal is with April or July. It's going to be interesting to see what is ACTUALLY still left on my credit report after they report it on the 13th!

Re: Am i in the wrong or them? BOA 30 day lates

Ridewithme38 — Thu, 17 Apr 2014 15:51:44 GMT

WOOT! Had them fax me over a copy of the letter they are mailing me....Quoted directly from the letter.

"The account history shows 0 occasion(s) when a payment was 30 days past due, 0 when it was 60 days past due, 0 when it was 90 days past due, 0 when it was 120 days past due, 0 when it was 150 days past due and 0 when it was 180 days past due."

That cleans up that account completely! Now my only negative(Except my Utility, which i'm working on) is only ONE other account that has TWO 30 days lates from 2013....Which i'm going to start working on next week!