Consumer complaint received 2018-06-19
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
I had an auto loan with Bank of America for my car ( XXXX XXXX ) but was total out due to an accident around XX/XX/XXXX. My insurance paid ( XXXX $ ) most of the car off on XX/XX/XXXX. The  document showing the paid amount will be provided named " Claim Payment Detail ''. This payment left me with a balance of XXXX $ at the end of XX/XX/XXXX. I continue to paid ( never stop ) my monthly install payment of XXXX $ until this loan was paid off. Which can be viewed by my XXXX credit report attach to this dispute as " XXXX Credit Report ''. This loan was paid in full and should of never been charged off. Bank of America claim that I had 60 days to pay this loan in full. Which they stated that they sent a letter stating this which I never receive. From all my research I gather it is by law a creditor can not charge off an install payment until 180 days of no payment. Which clearly was not the case here. You can also see on my credit report that I never missed a payment since this loan was active and going from the month of XX/XX/XXXX to the very next month of XX/XX/XXXX they charge off I believe XXXX , which should not be the process. This can be found in FCRA 2016 which I also will provide in this document name " XXXX '' ... This document states " ( c ) Running of Reporting Period ( 1 ) In general. The 7-year period referred to in paragraphs ( 4 ) and ( 6 ) 6 of subsection ( a ) shall begin, with respect to any delinquent account that is placed for collection ( internally or by referral to a third party, whichever is earlier ), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action. '' Which I believe was never taking off their books ( taken off their balance sheet ) since I was still able to make monthly payment and further paying off this loan. This can also be viewed on my credit report. This loan was paid in full XX/XX/XXXX.  I requested that this negative report be remove from my account and still it shows month after month. Not only does it shows on my credit report it shows that it was paid less than the full balance which is not true. I called Bank of America numerous time just to hear that this is correct and will not be removed. I also got XXXX XXXX involved which I thought would help resolved this problem faster but still I was not able to get any where. XXXX XXXX sent Bank of America a letter " XXXX XXXX XXXX '' which also I will provide in this dispute stating that they send any documents supporting their negative reporting which we never heard from. The problem with disputing concerns with Bank of America is that they have an automated system where if they get any disputes they don't manually review it but will send you a letter stating what are you disputing and etc to comply with responding in 30 days. About every two weeks I get the same letter over and over asking what I'm disputing before they can move forward with the case. Bank of America knows what I'm disputing and if a human would check my account they would see that I called numerous time about this dispute. I will also provide the same letter that Bank of America send me time after time named " Bank_of_America ''. I'm in the process of a very important business transaction and this negative remark is causing me probably. I been disputing this issue for over a year now and need for this negative dispute to be remove from my credit report as soon as possible. This negative remark on my credit is not correct and should be resolve quickly.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation