Bank Of America
Date: Wed, 05/09/2007 - 08:50
Wanted to give you some info that I have just come across concering Bank Of America. I to have an account with them that is in collections and with a collection agency. I sent a debt validation letter to Alliance One back in November 2006 and never received information as time went on I received a letter from Nationwide Credit collection on BOA's behalf which threw me for a loop. I then sent them a debt validation letter and just received the information which does not have everything I requested in the mean time they keep adding fee's onto the original balance that went into collections. Don't the collections agency have to give you information of the previous agency since they now have your file?
BOA does all there collections in house meaning these agency work for BOA, they don't sell your account to any agency that is why it is hard to settle or work out a payment plan with them to fit your financial needs.
My cousin works for BOA and she stated all collections agencies settlements are to be paid within 3 months cause I explained to her what has been going on. Nationwide Credit wants me to pay the full balance of $9021.10 to them within 30 days. She told me to counter offer and if working out a settlement plan to pay over a period of time instead of 3 months. BOA's people can go to their Director and request the settlement be paid over 8 months. So don't let them tell you differently. I am actually going to see her this weekend to work out a counter offer and plan for this debt that keeps growing.
I will keep you posted.
BOA
What caused your account to become so overdrawn?. Was it your fault or due to some outside source such as fraud or unauthorized ACH withdrawals. I just had all my NSF fees refunded bu BOA because they were caused by my direct deposit from work being intruppted, followed by repeated attempts by Payday loan companies to debit my account. I got little cooperation from the branch so I filed a complaint with the Office of the Controller of Currency, or OCC, who is the federal watchdog for banks. Once the collection people found out the reasons why and what I was pursuing they refunded all my charges and required me to pay only what they covered. If your account has been overdrawn more than 120 days it is officially closed so it may be harder to resolve. The banks do not like having the OCC crawling around with a microscope so you probably have a good chance of settling, unless of course you just bounced some big checks and they want there money back. Then you really have no recourse. But to answer your other question, if the banks collectors appear as a third party even though they are working exclusively for the bank, they are bound by the rule of the FDCA. Good luck!
It is a shame what bank america is doing with many Customers.ma
It is a shame what bank america is doing with many
Customers.many illegal overdrafts and government
Is not doing nothing for consumers and it is
A shame.my husband never received his money
Back from false overdrafts.
