Suntrust Banks, Inc. SunTrust Banks, Inc. has destroyed our credit due to an accounting error, and they REFUSE to acknowledge or repair it! Richmond, Virginia

Our nightmare started in December of 2008.  We went to SunTrust for help with ONE mortgage payment, Jan. 2009.  They suggested we do a forbearance and sent us an Agreement to sign, for non-payment for Feb, March and April 2009.  I think it's important to mention that prior to this, both our mortgage loans with SunTrust were set up on automatic draft and our payments were NEVER late. 

In May we were able to resume our monthly payments, so in good faith we sent in April's payment.  It was cashed and we assumed our loan was as it was prior to the forbearance.  The following month we sent in our mortgage payment, and it was returned to us with a letter from collections, stating our loan was in default.  The occurred every month for the next five months.  Our account was finally referred to their foreclosure attorney Recontrust Company, and the foreclosure process had started. 

We wrote letters, made phone calls and without any help I finally contacted the CEO/President Mr. Wells.  Within one week, we had a response from Mr. Wells indicating that someone would review our account and a response would follow.  We received a response letter from the President's office, indicating that the mortgage payment we sent in for May had been applied to January 2009.  The following payment was applied to Feb. 2009, which was clearly within our forbearance period. During this time, we had been forwarded to the Loan Modification department, and our loan was modified and brought current. 

We finally thought everything had been resolved, and we put the issue to rest and resumed making our payments as we have done in the past. 

Just recently we ran our credit and found that Suntrust reported to the credit bureau our payments were late for 8 months!!  Our credit score dropped over 250 points.  Since this discovery, we have been calling them and writing letters and they refuse to acknowledge the errors, and to make any corrections.  We are so frustrated and firmly believe they did this on purpose and they benefited from the loan modification.

We are going to to fight this, and are speaking with an attorney.  It's going to cost thousands of dollars to sue them and it's over a silly accounting error.  This company should not be in business and are in breech of our forbearance agreement as well as for wrongful negative credit reporting as per the Fair Credit Reporting Act.