Bank of America

[Anonymous]

yeah i'd like to find out, judgement if possible and if it's arrow then it's 600 bucks not worried about that, but wouldnt I see that on my credit report? tax i dont think i owe anything like that, or least none that i am aware of.

another thing that stands out is a really old business checking account I had with them which was closed with maybe a 300 balance (250 was fees)

[jasimae]

In this day and age it could be anything.  All kinds of companies are waiting in the wings to collect for the most frivolous amounts.  The minute they soft pull your report and see that you're trying to clean it up, then they hop out from the bushes and get a judgment for something ridiculous like $75 or whatever.  It's really stupid.  I truly believe the aim of some of these companies is to eff up your credit so you can never get ahead or become financially stable. It's their master game plan.  That's why I open any and every piece of mail that comes to me.  As solicitous as the envelope might be and I'm tempted to throw it away, it could easily be something from years ago that I forgot that I signed up for or did a trial of something and forgot to cancel or a laboratory bill that my insurance company didn't pay.  Anything.  At this point, now that my score is escalating, I'm not taking any chances.  I've opted out of everything.  In as much as I'd like the credit card offers to flow my way, I WILL DECIDE WHEN TO APPLY, not them.  And I will apply when I am ready.  So, I'm hoping for your sake this is something frivolous that can easily be remedied and will not affect your score.  Best of luck.

[CreditCrusader]

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@Anonymous wrote:

yeah i'd like to find out, judgement if possible and if it's arrow then it's 600 bucks not worried about that, but wouldnt I see that on my credit report? tax i dont think i owe anything like that, or least none that i am aware of.

another thing that stands out is a really old business checking account I had with them which was closed with maybe a 300 balance (250 was fees)

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Whoa...did you just say you had an old, unpaid business account with them?

I really, really hope I'm incorrect about this, but what you are describing sounds an awful lot like right to offset to me. They may have seized that money and frozen your secured card predicated on the fact that it is no longer fully secured.

Again, I could be wrong, but the timeline and runaround you're getting from CSRs point to right to offset.

[Anonymous]

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@CreditCrusader wrote:

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@Anonymous wrote:

yeah i'd like to find out, judgement if possible and if it's arrow then it's 600 bucks not worried about that, but wouldnt I see that on my credit report? tax i dont think i owe anything like that, or least none that i am aware of.

another thing that stands out is a really old business checking account I had with them which was closed with maybe a 300 balance (250 was fees)

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Whoa...did you just say you had an old, unpaid business account with them?

I really, really hope I'm incorrect about this, but what you are describing sounds an awful lot like right to offset to me. They may have seized that money and frozen your secured card predicated on the fact that it is no longer fully secured.

Again, I could be wrong, but the timeline and runaround you're getting from CSRs point to right to offset.

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yes I know, I was stupid and young, but if they froze my fully secured account to offset the amount i owe them, I am glad thats what it is and paid for.  I really cant think of anything else.  Everything I've either paid for or it's out of SOL (4 years in califronia) none the less I've checked my CR and I dont see any judgement against to me under public records only my BK from 02 which is going to call off on 7/12.

[CreditCrusader]

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@Anonymous wrote:

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@CreditCrusader wrote:

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@Anonymous wrote:

yeah i'd like to find out, judgement if possible and if it's arrow then it's 600 bucks not worried about that, but wouldnt I see that on my credit report? tax i dont think i owe anything like that, or least none that i am aware of.

another thing that stands out is a really old business checking account I had with them which was closed with maybe a 300 balance (250 was fees)

---

Whoa...did you just say you had an old, unpaid business account with them?

I really, really hope I'm incorrect about this, but what you are describing sounds an awful lot like right to offset to me. They may have seized that money and frozen your secured card predicated on the fact that it is no longer fully secured.

Again, I could be wrong, but the timeline and runaround you're getting from CSRs point to right to offset.

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yes I know, I was stupid and young, but if they froze my fully secured account to offset the amount i owe them, I am glad thats what it is and paid for.  I really cant think of anything else.  Everything I've either paid for or it's out of SOL (4 years in califronia) none the less I've checked my CR and I dont see any judgement against to me under public records only my BK from 02 which is going to call off on 7/12.

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Hey, we've all probably been there. Don't beat yourself up too bad.

I know that when these banks exercise RTO, they usually do it in a swift, clandestine manner. That's what tipped me off in this case.

Here's hoping I'm wrong!

[-Cain-]

Interesting about RTO...here's an article I just found on the net

http://www.bills.com/right-of-offset/

[Anonymous]

I cant imagine it being anything else but RTO... lets see what comes out of all this...

[john398]

Yes I agree it could be that old business account

[Anonymous]

Any response from BoA?

[Anonymous]

nothing as of yet, I guess it really cant be all that bad... my secured account still shows open on my cr, so I really dont know whats going on to be honest.