help me! late pymt/charge off

[Anonymous]

I am in trouble with a credit card, bank of america. I have paid regularly for the past year, but I thought it was still coming out of my account til I found out yesterday that the payments stopping coming out (since I had them arranged to take them out) in feb. of this year. Now all my hard work is gone, and I am wondering if it would be better to charge it off and settle or arrange something with BOA to work it out and have a 180 late on my report? please help- I am screwed either way, but I need some guidance.........

[Anonymous]

Whenever you sign up for online automatic debits...print the confirmation.

So you thought payments were being removed since February...So I assume you are on the 4th month of the automatic withdrawal (that didn't work).....

DON'T Settle...the account is still open I assume. Pay it up to date and move on. Keep it open, don't dispute, don't settle!

Get up to date and move forward. If you explain the issue to the company they could and/or should be nice enough to remove the late status.

I am not picking on you.......but I have seen similar threads where people signed up for automatic withdrawal and found out months later that it didn't happen. A word to the wise, reconcile your bank account every month to check for clearance of payments.

I run into this myself all of the time for payments in my professional industry and I have the attitude of "you knew it was supposed to come out so you should have checked" Yes I understand this is harsh!!! and I do apologize and again reiterate I am not picking on you.

Yes you CAN fix this without loosing everything you have gained!!!! I have called for my clients and explained the EFT debits were screwed up and removed all late charges etc. THIS CAN BE DONE!!!

And yes, I did have a bad day at work today so this is probably why I am so vocal!

Message Edited by 1111mel on 06-19-2008 10:25 PM

[Anonymous]

Can you use the card???...you need to find out if it's still open...you reports can say open...but 180 past due...is just like a CO...or a collection...get caught up FAST...in exchange for them not closing your account...or making it a CO...then send them a GW letter...for the lates...it's much easier to get lates removed from an open account...rather than a CO...

[Anonymous]

thanks for the feed back, I have the money taken out of an account that I dont use on an every day basis, so I dont think to check that account very often. I will be checking more oftern though after this happened.

thanks for the input!

[Anonymous]

no, actually I closed the account about a year ago, when I set up the auto payments to come out, I just made the auto payments come out of an checking account that we sent up with lttle money in it so that if we need to do something online or use that debit card online, we just put the amount in and do the transaction, obviously we havent done much online stuff since christmas, and I dont check that account but in a blue moon.

I realize that I WILL KEEP up on it monthly from here on out, this has been a hard lesson.

thanks for the advice!