Paying Collection but BofA Still Marking Late Payments

[Anonymous]

I have an account that Bank of America sent to collection 3 years ago and I have been paying the collection agency since with monthly on time payments. The issue here is that BofA is showing on my Credit Report late payments every month for the past 34 months even though I have been paying a collection agency for this account. Current Status [?] Bad debt/collection Seven year payment history [?] 30 days late 1 time 60 days late 2 times 90+ days late 31 times (Dec 2007, Nov 2007, Nov 2007, Sep 2007, Aug 2007, Jul 2007, Jun 2007, May 2007, Apr 2007, Mar 2007, Feb 2007, Jan 2007, Dec 2006, Nov 2006, Nov 2006, Sep 2006, Aug 2006, Jul 2006, Jun 2006, May 2006, Apr 2006, Mar 2006, Feb 2006, Jan 2006) They update the Balance every month the Collection Agency isn't showing on any of my Credit Reports. The collection agency when I started making Payments as part of the arrangement made me pay 3 times the normal monthly payment to start off. Should Bank of America be reporting like this? Any light that can be shed on this would be great as I don't understand why I would want to pay this if month after month they are hurting my report worse.

Message Edited by justinsm2 on 03-06-2008 09:10 PM

[Anonymous]

bump

[Anonymous]

I'm not a pro but I think the reasoning behind it is that you maybe making payments on time for the arrangements you setup AFTER defaulting - but you still defaulted and aren't "up to date" on your payments because of that. 

Hmm... that didn't make sense.

Like let's say you missed payments on a loan from Jan-May and it was 50 a month.  In June you pay 50, and it's "on time" for your billing cycle, you're still late because you're not caught up to where you should be...

Hopefully someone with more experience describing this type of thing chimes in hahaha

[Anonymous]

I guess my issue here is that if its marked on my Credit Report as a Collection Account and Charged off by Bank of America why would they be marking me as late paying if they don't currently hold the account?

[Anonymous]

Are you sure they don't hold the account?  Just because you're paying a collection agency that doesn't mean BofA sold the account to them, they could have just hired them to collect the debt.

[Anonymous]

Right they may hold the account, but its my understanding if its Marked as a Bad Debt/Collection that it cannot continue to be late. I guess what I am trying to figure out here is if this is something I should consult a lawyer for as the Collection Agency is getting the money on time every month for the last 3 years, but Bank of America who says this is a Bad Debt/Collection is still saying payments are late on a written off account, something just doesn't seem right here.

[dangphuocloc72]

HOW MUCH DO YOU OWE THEM ?

BEFOR I OWE NATION BANK ( NOW BANKOFAMERICA ) THEY SUE ME IN THE COURT ON 2000 AND THEN I AGREE PAY THEM , EVERYWEEK THEY TOOK MONEY FROM MY PAYCHECK FOR A YEAR . AFTER I AM DONE IN ONE YEAR THEY REMOVE OUT OF MY CR . HOPE THIS HELP .

[fishbjc]

It could be a simple error on BofA's end.  Wouldn't surprise me a bit!  They're not bad to work with.  Give them a call, then speak to a supervisor if the answer they give doesn't work for you.

Don't speak to a regular CSR though, there's a special dept. you need to speak to.

[rom828]

I don't think this is just a BofA thing.  I had basically the same thing with Providian.

The account was charged off 11-03. Per arrangements, I began payments 11-03 and finally paid off 11-05.  April 2005 CR showed pyts as "ok".  However, effective with jan 06 report, showed this was paid off with 0 balance, but  it began to report as  25  90 days lates!!!.

So now on EQ and Ex, I have 25  90 day lates under this account.  TU just shows it as a paid charge off with no lates.

I've been warned/advised by other forum members that this is an action by  the bureaus, not the OC or Fico.  Also advised that trying to correct could result in file being updated and wont drop off as soon.

I tend to believe it is a bureau thing, and not fico or OC.  I ran 'real' fico reports .  TU shows the Providan acct as paid charge off, no lates, EX shows as paid CO with 25  90 day lates, and EQ shows paid with 25  90 date lates! 

I also have an unpaid Cap1 CO (05-05) showing diff on each fico report also.  Again, TU, shows charge off, with unpaid amt showing.  EX shows  CO with  24   90 day lates from 12-05 until 02-08 (!!) and EQ shows it as CO with 5  90 lates in 03 and 04 (?) with worst deliquency 120 days.  Although I have rec'd CA letters on the Cap1 from various CAs, Cap1 is the only one reporting on CRs.  

On reports from 2005, Providan was being reported as "paid as agreed" with 'ok' on monthly pyrs and Cap 1 just showed CO, no lates after charge off.

I'm still no sure how I'm going to proceed.  I want my record corrected and I feel it would help my score not to have all those lates, but I also dont want to have the delete dates of 10/09  and 6/10 changed either.

I'd appreciate any thoughts and advices anybody has also!!