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Credit Card Charge-off- Whats my next step?

Submitted by on Thu, 10/04/2012 - 14:28
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A little background-

I had a bank of america power rewards card. I was making regular payments in a timely manner. In july 2011, BOFA's online banking system went down and my payment wasnt processed. FIA Card Services contacted me and told me that they would waive the late fee if i set up an automatic payment with them on the phone. I agreed.

However, my payment due date was the 16th of the month. Fia card services set up my account to withdraw on the 17th. So every month, I would accrue late fees up until March of 2012 when I realized what was happening. I called them and asked them to reverse the fees and I would make payment that was owed. The customer service rep said they would call me in a few days to verify

Turns out, it was "not a bank error" and therefore deemed my fault. ***Seriously, who would want their payment withdrawal date a day AFTER the payment due date??*** No one could give me a clear answer. They did not change the payment withdrawal date so my account kept withdrawing a day after its due date up until June 2012 when i decided to stop making payments.

Fast forward to September 29th, the last day my account would be in good standing before being charged off. I call to settle my debt (~$2k ) and they tell me the account has already been charged off. I missed the cut-off by 30 minutes. i am located in california, they run on Eastern standard time.

Since then, I have made multiple calls to BOFA rto resolve the debt and pay it in full so that the chargeoff does not show on my credit report. I pleaded and begged with them to keep it in house and not send it to a 3rd party agency.

Well lo and behold, guess where my debt ended up?

At this point, what are my options? Ultimately, I do not want the chargeoff on my credit report and do want to resolve this debt. Should i contact an attorney to see if theyll take this case? It clearly ws a bank error and i dont want this to show negatively on my report for 7 years. Im only 27, this will GREATLY effect my future in purchasing a home/finacning cars/ etc.

Whats my best bet? Contact BOFA and beg and plead? Get an attorney? Any advice would help. thank you


This is BS on the part of BOA. Unfortunately this is out of the hands of the collector you are talking to right now. They can give a flying crap about what BOA did with your account. You should have rectified this early on but you did not. At this point try to call BOAs main corporate office and complain (or write to them via USPS mail)... if you get no where with them try an attorney.


Submitted by waffles on Thu, 10/04/2012 - 17:08

waffles

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