Credit reporting, credit repair services, or other personal consumer reports -- Incorrect information on your report -- Complaint #4519405
Complaint Overview
Complaint ID: 4519405
Company: Bank Of America, National Association
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account information incorrect
State: Massachusetts
ZIP Code: 013XX
Date Received: 2021-07-06T12:00:00-05:00
Date Sent to Company: 2021-07-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
The lien holder, Bank of America, did not conduct the necessary due diligence at loan inception and the vehicle ( in this case an aircraft ) did not have a clear title. I only discovered this when I went to sell the vehicle and was advised that there was a title problem, therefore, I could not sell the vehicle in lieu of a clean title. I advised Bank of America that I was suspending further payments until the title issue was resolved. in the interim period, Bank of America sent the loan into collection. Three ( 3 ) months later Bank of America cleared the title problem, but did not advise me. Once it was discover that the title problem had been resolved, I promptly paid the outstanding balance. However, even though the loan is paid, Bank of America is still reporting to the credit agencies that it was " bad debt '' and that there is an outstanding balance - which there isn't, it's paid in full.
Frequently Asked Questions
What is Complaint #4519405 about?
Complaint #4519405 was filed against Bank Of America, National Association regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Incorrect information on your report. It was received by the CFPB on 2021-07-06T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.