Credit reporting or other personal consumer reports -- Incorrect information on your report -- Complaint #7975064
Complaint Overview
Complaint ID: 7975064
Company: Bank Of America, National Association
Product: Credit reporting or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account status incorrect
State: Florida
ZIP Code: 321XX
Date Received: 2023-12-09T12:00:00-05:00
Date Sent to Company: 2023-12-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
My family and I have been a Bank of America customer for over 30 years. Over these years we have utilized various BofA services, securing loans, including a XXXX Mortgage with a second mortgage. In 1996 we established a family, veteran, minority owned small business with a SBA-baked loan. This is about the second mortgage ( balloon home loan ) from XXXX, maturing on XX/XX/XXXX. Despite seeking consideration for a lower payoff and encountering challenges during a modification attempt we navigated the process. During all the interactions with BofA I always asked if I could make another monthly payment, and was told that I could not due to the loan reaching it's maturity, and during the modification process it was not necessary. However during the modification process my loan was in fact sold, even though a letter I received from BofA on XX/XX/XXXX stated in the 4th bullet point, that if your loan is being revised or modified then this sale would not affect me. This was frustrating due to the amount of time, phone calls, and due diligence in getting all documents for the modification package. Afterward, our family owned business received a generous offer from our business bank of XXXX years, providing a {$30000.00} discount to pay off the remaining balance of a once {>= $1,000,000} loan. Excitedly I applied for the second mortgage with XXXX, only to encounter a setback due to a reported {$31.00} late mortgage payment in the last year with BofA. Upon contacting BofA, I discovered the loan being transferred during a loan modification, had caused confusion about its status. despite acknowledging the error by several different BofA representatives, this situation for {$31.00} has caused frustration and a huge impact on our credit. Numerous attempts to resolve the issue, including calls, service request, and interactions with various BofA departments and representatives. The last contact on XX/XX/XXXX was with a supervisor named XXXX from XXXX, who displayed a total lack of empathy, or understanding. She kept informing me that this was all my fault and there was nothing she could do to help. I have been a loyal customer of BofA since XXXX. I urgently request the removal of the past due payment of {$31.00} from my credit bureaus. We are counting on the {$30000.00} for fourth-quarter Inventory. This {$31.00} has significantly impacted our small business. I believe that BofA, in line with its commercials will rectify this situation promptly allowing us to save our employees jobs and our family company. Respectifully submitted XXXX XXXX
Frequently Asked Questions
What is Complaint #7975064 about?
Complaint #7975064 was filed against Bank Of America, National Association regarding Credit reporting or other personal consumer reports specifically about Incorrect information on your report. It was received by the CFPB on 2023-12-09T12:00:00-05:00.
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 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.