I am so at a loss at what to do...
This is really the only "negative" on my credit reports other then high utilization which I am paying down...
But it's a big one, with $15,000 and probably growing every month as a current debt
I have fought with BOA for many months over this (before it was magically $15K)
They would not provide any details as it was a wrote off account and would only give me the name of the agency they sold it to. I fought with branch managers at several locations, many hours on the phone, and letters that rarely got responded to.
This is why I disputed with the credit bureaus since BOA could not justify the balance. Yet, the only thing the dispute did is showed BOA closed and wrote off the account and made a new entry in all of my credit reports of the account with the CA and the new $15k balance
File a direct dispute under FCRA 623(a)(8). This puts the furnisher of the information in the hot seat to investigate the dispute. They have up to 30 days to notify you directly of the outcome.
Provide as much information as you can, cancelled checks, statements, etc. What ever you have to support your claim. Also ask for an accounting breakdown of what they say you owe.
File a direct dispute with who? The CA or BOA?
Unfortunately I have little documentation regarding this as I paid the card in full and closed it in 2006. I moved and never heard anything regarding this until years later...
I already filed a dispute with them a while back and the only information they would ever release is that they wrote the account off for $8000~ to the CA. It was like banging my head against the wall dealing with BOA..Months of fighting with them got 0 progress.
How exactly do I file it under the FCRA? I googled that but did not see anything that looked like what I need.
Should I not file something against the debt collector since they are the main issue right now reporting a hugely inflated debt as current? I am pretty sure they have illegaly added interest or fees to the account since it's doubled in size in 10 months..
You said you never owed BoA $8000. If the CA is charging interest on an $8000 debt you never owed, I'd say it started with BoA.
You can ask the CA for an accounting of the debt; principal, interest and how it was calculated.