Complaint Review: Bank of America - Internet
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- Author Not Confirmed
- Bank of America Internet United States of America
- Phone:
- Web: bankofamerica.com
- Category: Banks
Bank of America BOA Reported my payment as late, ruined my credit intentionally, larceny, fraud Internet
*Consumer Comment: Yes..
*Consumer Comment: PRIVATE SECTOR, ALMOST ALL OF OUR CONGRESSMEN ARE WORKING FOR THE BANKING CARTEL.......
*Consumer Comment: There quite few holes in this story
*Consumer Comment: Correct me if I'm wrong
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Background: After Hurricane IKE flooded my job site of 30 years (six feet of water in my office) in Orange, Texas. I was offered a relocation package by my company to Houston, Texas. I had excellent credit and my home was paid for. I had an MBNA card for over 20 years which Bank of America bought out in 2005. My credit limit was $65,000. I never asked for this limit, they extended it without my input.
My home was guaranteed to be purchased by my company if it failed to get an offer greater than an agreed on appraisal. I built my home in 1986. I chose to use my BOA card to complete all upgrades to my home as a method to track the total cost. In 3 months, I paid $44,000 for materials and labor and put it all on my BOA card. During this brief period I was besieged by calls from companies wanting to let them negotiate a lower settlement with BOA. I always refused stating I pay my debts.
Once BOA reported my payment as late, my credit score dropped by a minimum of 150 points. The new home loan I pre-qualified for was rescinded. In order to get financing, I had to take an early withdrawal from my 401K of $150,000.00. $15,000 was taken by the IRS for an early withdrawal penalty. $35,000 was used to pay the taxes on the now income. This was in January of 2009. I paid BOA in full. $44,00.00, I also paid off a FEMA loan for $37,000.00 @ 2.7%, I took out after Hurricane Rita did in excess of $120,000.00 of damage to my home in 2005.
I was able to get a home loan through a credit union because my debt to income ratio improved dramatically. I paid over 2% higher interest rate than I was originally quoted for my home loan .I have had to put down cash deposits for my utilities. I paid a higher interest rate for a new automobile. I do not own a credit card from any bank now.
It is now March of 2012. I had complained to Bank of America repeatedly during the entire period to remedy the credit score issue. They admitted to my wife and I that the late payment was done on purpose by BOA to reduce their exposure to unsecured debt. This was a top down endorsed policy.
HERE IS MY MAIN MESSAGE.
IF YOU HAVE BEEN A VICTIM OF BANK OF AMERICA FRAUDULENT BEHAVIOR, CONTACT YOUR CONGRESSMAN. I BESIEGED MY CONGRESSMAN, KEVIN BRADY, CONROE, TEXAS WITH PHONE CALLS AND REQUESTS FOR HELP FOR ALMOST ONE YEAR. IN FEBRUARY 2012 AFTER INITIALLY DECLINING TO HELP ME, I DID RECEIVE A CASE WORKER WITH MY CONGRESSMAN'S HELP. JAY LUCAS IN HIS OFFICE MADE THIS HAPPEN ALONG WITH THE CONGRESSMAN.
I AM NOW WORKING DIRECTLY WITH THE UNITED STATE TREASURY DEPARTMENT CONSUMER PROTECTION AGENCY AND AM GETTING A COMPLETE REVIEW OF MY COMPLAINT AGAINST BANK OF AMERICA. I HAVE LINKED THIS WEBSITE CONTAINING OTHER BANK OF AMERICA COMPLAINTS FROM THIS WEBSITE AS SUPPORTING DOCUMENTS. I HAVE PROVED WITH BANK OF AMERICAS OWN DATA (BELOW) THIS CREDIT DESTRUCTION PROGRAM WAS WIDESPREAD AND INTENTIONAL BY BOA TO ACHIEVE LOSS MITIGATION.
DO NOT TAKE NO FOR AN ANSWER. HAVE YOUR CONGRESSMAN CONTACT THE OFFICE OF CONGRESSMAN KEVIN BRADY FROM CONROE, TEXAS. MY CONGRESSMAN HAS TAKEN THIS ISSUE SERIOUSLY AND I AM NOW GETTING CLOSE TO FILING FRAUD AND LARCENY CHARGES AGAINST BANK OF AMERICA.
IF NECESSARY I WILL USE OUTSIDE COUNCIL. I AM SEEKING ONE BILLION DOLLARS IN RESTITUTION AND HAVE BANK OF AMERICA AGREE TO THE SAME OFFER TO EVERY SINGLE PERSON THEY TREATED THE SAME. WE ARE GETTING OUR DAY IN COURT. CALL YOUR CONGRESSMAN EVERY DAY UNTIL THEY AGREE TO ASSIST YOU THE SAME WAY.
I have been mad as hell since this happened. I am using the legal and government resources I pay taxes for to make Bank of America officials including the board of directors personally liable for my illegal treatment.
THE STATUTE OF LIMITATIONS FOR CRIMINAL CHARGES EXPIRES IN 4 YEARS FROM THE DATE IT OCCURRED. I HAVE 9 MONTHS LEFT FOR THEM TO BE HELD CRIMINALLY LIABLE, AS WELL AS FINANCIALLY RESPONSIBLE.
Here is the smoking gun, FROM BOA'S OWN WEBSITE, UNDER LOSS MITIGATION, THEY REPORTED TO THEIR BOARD OF DIRECTORS THE DATA FOR THE FIRST QUARTER 2009. They act as if it was done to help consumers. It was called "Loss Mitigation" yet the purpose was to collect outstanding credit card balances in a quick timeliness. They knew they were intentionally destroying customers credit score. They did not care about the consequences to their own customers, just get it done. They are going to pay dearly for this calloused, illegal, and intentional fraudulent activity.
"Loss Mitigation
I have sent a series of questions and requests for information to the Treasury Department to ask BOA officials. These include the following:
1. How did they achieve such impressive results by getting 58,000 credit card customers to agree to pay their balances so quickly in Q1 2009?
2. Produce every complaint and communication record associated with the 58,000 customers.
3. Produce all internal and external memos and letters, customer coorespondence, customer complaints, customer phone recordings, transactions, e-mails and related communications to every BOA employee, managers, every Board of Director meeting minutes, Board Member names, employee bonus and compenstion packages relating to loss mitigation performance, coorespondence during this period, before and beyond, relating to Loss Mitigation.
THEY ARE NOT GOING TO LIKE THEIR NEW PIN STRIPED SUITS THEY WILL BE WEARING WHEN I AM FINISHED WITH THEM.
Respectfully,
Private Sector
Magnolia, TX
This report was posted on Ripoff Report on 03/27/2012 06:03 AM and is a permanent record located here: https://www.ripoffreport.com/reports/bank-of-america/internet/bank-of-america-boa-reported-my-payment-as-late-ruined-my-credit-intentionally-larceny-859835. 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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#4 Consumer Comment
Yes..
AUTHOR: Robert - (U.S.A.)
SUBMITTED: Tuesday, March 27, 2012
This report has more holes in it than Swiss Cheese. So just a few more that weren't mentioned before.
Once BOA reported my payment as late, my credit score dropped by a minimum of 150 points.
- There is no scoring system that I have seen that has a minimum score of 150, and even if there was a single late payment will not drop you to the minimum if you have even a fair credit history.
It is now March of 2012. I had complained to Bank of America repeatedly during the entire period to remedy the credit score issue.
They have NOTHING to do with your credit score, all they can do is put information on your Credit Report. From that companies will generate a score based on their parameters. But if BofA damaged your score as much as you said you would have been approved for a home loan. If by chance you were it would not have been at only 2% higher. It is also unlikely that you would be approved for a car loan. Again 4 years later a SINGLE late payment is not going to even be a blip on the credit score "radar screen".
IF NECESSARY I WILL USE OUTSIDE COUNCIL.
- So you have the US Treasury and a Congressman personally handling your complaint. Yet you may need to seek outside council? Let me take a guess that when you made your complaint they said something to the effect that "They will take your complaint and keep it on file", and "You are free to pursue this through a private attorney"
#3 Consumer Comment
PRIVATE SECTOR, ALMOST ALL OF OUR CONGRESSMEN ARE WORKING FOR THE BANKING CARTEL.......
AUTHOR: Karl - (USA)
SUBMITTED: Tuesday, March 27, 2012
in this country. The politicians in the USA (most of them) work for the banking cartel, which is also known as the Federal Reserve.
Simply 'Google' the following videos and watch them on the web for proof-
1) FRONTLINE: INSIDE THE MELTDOWN
2) FULL SHOW: HOW BIG BANKS ARE REWRITING THE RULES OF OUR ECONOMY
3) WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010
4) WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO
5) FRONTLINE: THE WARNING
6) INDYMAC BOYS GET SWEETHEART DEAL
7) AMERICA: FREEDOM TO FASCISM
8) YOUTUBE FALL OF THE REPUBLIC
9) EX-SALT LAKE MAYOR ROCKY ANDERSON FORMER DEMOCRACY NOW
Mailing letters to Congressmen is a waste of time, in my opinion. The U.S. Government and Wall Street are both being controlled by the banking cartel. They also control much of the Legal System in the USA, and believe it or not, they control the Mainstream Media.
The bankers are free to do as they please. That's why none of the CEOS at the big banks are in jail for fraud and corruption. Feel free to 'Google' this- COUPLE SAYS GOLDMAN MISUSED SHARES TO ASSIST SHORT-SELLERS, and read the related articles that just became available today.
Then 'Google' this- DID SPECULATION FUEL OIL PRICE SWINGS, and watch that video on the web. The bankers also control the price of oil. That is why the price of gasoline is so high. They are 'manipulating' the price of oil for PROFIT, again, in order to keep their banks afloat, just as they were doing in 2008, in my opinion.
Our entire system in this country is corrupt. The bankers own the politicians. They also control Wall Street. That is why Americans, and people all over the world, will continue to be financially injured. Spread your Ripoff Report all over the web at sites like Twitter and Facebook. You can also mail copies of your Ripoff Report to all of your Local News stations. Put it to the attention of 'Investigative Reporter'.
Good luck to you.
***POLITICIAN ALERT: Make sure to stay at this site and type in all of the following and read the Ripoff Reports for important information if you live in America-
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#2 Consumer Comment
There quite few holes in this story
AUTHOR: Steve - (USA)
SUBMITTED: Tuesday, March 27, 2012
Credit card companies do NOT report you to credit agencies for being one day late.
"During this brief period I was besieged by calls from companies wanting to let them negotiate a lower settlement with BOA."
Why were you being "besieged by calls" from settlement companies during the "short time" you were carrying a 44K balance if it was not already reported as delinquent at that time?
"They admitted to my wife and I that the late payment was done on purpose by BOA to reduce their exposure to unsecured debt. This was a top down endorsed policy."
First of all, even if this absurd policy really existed, the employee would not know about it, and would certainly not admit it. But the policy does NOT exist, as it would make them lose money. Recalling an entire debt would encourage customers to just give up on it, plus BOA would lose out on all that interest. Why would they let you put 44K on the card and then a "brief period" later decide they did not want the "exposure" to the unsecured debt?
"They act as if [loan modifications] was done to help consumers."
This is the biggest laugh of all. The modifications DO help consumers; banks are doing them because there has been pressure on banks to do so, not because it necessarily helps the banks. These modifications include lowering the interest rate (which loses the bank money) and postponing payments (which increases the bank's exposure to unsecured debt). Finally, these modifications are only offered to those cardholders that actively seek them. In fact, you can find tons of complaints on here from people who are not able to get said modifications, after months of trying!
Listen - I am sorry for your hardships, I really am. But it is time to get honest about what actually happened.
#1 Consumer Comment
Correct me if I'm wrong
AUTHOR: Ashley - (U.S.A.)
SUBMITTED: Tuesday, March 27, 2012
but creditors don't report late accounts to credit bureaus until you are 30 days late. If you were just 1 day late as you say, it should not have affected your credit score. Also what time of day did you pay on that friday? If it was after their cutoff time, the payment wouldn't process until the next buisness day making your payment late. Did you dispute the ding on your credit? During your whole rant, you never talk about disputing it with the credit agencies.
Also, what criminal charges are you wanting to bring on BoA? I'm not seeing anything criminal in your story.
Also:
" I AM SEEKING ONE BILLION DOLLARS IN RESTITUTION AND HAVE BANK OF AMERICA AGREE TO THE SAME OFFER TO EVERY SINGLE PERSON THEY TREATED THE SAME "
You might be insane. You think you deserve one billion dollars for BoA reporting you one day late on an account? Simply amazing.
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