Consumer complaint received 2019-01-11
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Old information reappears or never goes away

Complaint:
The complaint is currently open. XXXX-XXXX. 

Here is the complaint explanation : The partial account number listed on my credit report ( experian ) is XXXX. The last activity on this account was XX/XX/XXXX. This was the last documented time Bank of America reported this account to the XXXX credit agency and then ran out of time legally to collect on this debt per California state law. The statute of limitations in the state of California - where I live - is 4 years. This account is currently out of compliance with the statute of limitations in the state of California. It is against the law for XXXX and Bank of America to report on this account information after XX/XX/XXXX which is when the statute of limitations on credit collections expired. This is lowering my credit score and causing me illegal pain and suffering economically without a proper legal enforcement of state specific statutes of limitations by the Federal Reserve governing board required to legally regulate the banks and protect consumers. XXXX states they will report on this until XX/XX/XXXX as if this is a bankruptcy notation on my credit report and that is not factual and this type of fiction is incorrect. A bankruptcy is reported for 10 years under the fair credit reporting act but revolving credit has different rules and regulations federally and by the consumer 's state of residence. This account was opened in the state of California at Bank of America in XXXX. The statute of limitations on collections of a debt in the state of California begin at 4 years after the last credit reporting to XXXX. So according to the law - this account expired in XX/XX/XXXX. So i have endured illegal negative credit reporting by both Bank of America and XXXX  credit reports for the last 2 years and counting. I would like this removed immediately from my credit report and a settlement paid to me due to unfair credit reporting practices violating California state law. I would consider an offer of {$1500.00} by Bank of America to be paid to me in this case for each year that this account is out of compliance with statutes of limitations to be a fair amount. There are numerous resources available to the general consumer who is trying to improve credit ratings by entirely following the law. Statutes of limitations allow a consumer not to pay a debt when following the law. This amount would allow me to repair secured credit with my FDIC insured bank. I am clearly not bankrupted. The reason that {$900.00} - {$1500.00} is needed is because in order to repair secure credit I would have to deposit {$1500.00} with my FDIC insured bank so that when maintaining brake work on my XXXX XXXX XXXX I could use a secured credit card to pay {$400.00} in timely payments on a {$1500.00} credit limit while only using about 26 % of my allocated credit limit. This is one way to improve credit scores and ratings by never exceeding 30 % of one 's allocated credit limits. Bank of America needs to be punished for not protecting or teaching customers how to improve credit scores while blatantly disregarding state specific laws. My resources for credit improvement include books by XXXX XXXX as well as many resources available through my counties public library. It is my understanding that the entire role of the federal reserve bank board is to literally govern banks and hold them accountable to the rules and regulations of fair credit reporting practices.

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 non-monetary relief