Complaint Review: Bank of America Borrow Protection Plan - brea California
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- Author Not Confirmed
- Bank of America Borrow Protection Plan 275 valencia ave brea , California USA
- Phone: 714-577-1901
- Web:
- Category: Income Tax Service
Bank of America Borrow Protection Plan Bribing people and sending checks then sending IRS false info brea California
*Consumer Comment: Bribe?
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They made a mistake and had to pay me more than the 12 months of disabilty payments on my home loan. Now I get a lettler from the IRS saying I owe them over one thousand dollars. The Bank of America sent in that I was to get around 7000 dollars in moratage interst from one year when the borrow protection plan paid all my payment. They sent me a check over 5 months earlier saying they mess up and they owe me 2800 dollars for a 5800 dollar mistake in interst they paid. Call 3 reps up and told them I did not make one payment that year they said I was wrong and to cash the check. A man from ths BPP called me and said the check they sent me was to pay the 1200 fine by the IRS. Told him this was illeagy to amidit I had this coming he himself said to pay the fine out of the money from the check that I should agree with them a lie to the IRS. I am seeing the IRS in 2 weeks and my lawyer and will show them all my paperwork and hope they put 3 people in jail that are trying to brib me with this money. Whom ever is running this site said to the IRS
This report was posted on Ripoff Report on 12/22/2016 08:06 PM and is a permanent record located here: https://www.ripoffreport.com/reports/bank-of-america-borrow-protection-plan/brea-california-92823/bank-of-america-borrow-protection-plan-bribing-people-and-sending-checks-then-sending-irs-1345109. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
Bribe?
AUTHOR: Robert - (USA)
SUBMITTED: Friday, December 23, 2016
I really don't know what "Interest" was paid, or the exact terms of this "Protection Plan" you were on. But nothing you showed here shows they were trying to "bribe" you into lying to the IRS. And if your "attorney" is the one putting forth that accusation, I really hope they aren't charging you and I highly suggest getting a second opinion. Actually, I would suggest getting a second opinion anyways.
I hope your attorney explained to you that it doesn't matter what YOU physically paid, it matters what was paid into/from your accounts. So yes, as far as the account was concerned you DID make payments, they were just paid from this protection plan.
There is two ways the IRS will "hit" you in this case. Either from unreported income(earned/unearned) or overreported interest deduction for your home mortgage.
Depending on exactly what this Protection Plan was, it sounds like from the letter Wells Fargo stated they reported the incorrect information in the Interest they reported paid. As a result they sent you the mistake as well as the estmiated amount of the penalty. Now, the penalty appears to only be around the $1000.
So you instead of starting to go off on some strange "bribery" tangent. You probably should ask your attorney very specific questions such as..did the money they sent with the letter stating a mistake mean that you were supposed to pay that? Also, what are you to with the "extra".
Good Luck..
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