Consumer complaint received 2017-04-20
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: SC
Product: Consumer Loan
Sub-product: Installment loan
Issue: Problems when you are unable to pay

Complaint:
Hello, I had an account with Ban k of America. It w as opened on  XX/XX/XXXX , last payment was on   XX/XX/XXXX  an d the first day of delinquency w as  XX/XX/XXXX . I  have not heard from bank of america in over   XXXX   years. I attempted to contact them yesterday on  XX/XX/XXXX  i spoke with  XXXX  around  XXXX    XXXX   est .I called  XXXX  and was connected to an inhouse collections department.I was informed by a female agent that they do not offer settlements to customer 's that do not want to pay and she also wanted to know why i wanted to settle. i informed her that i am calling you and i requested to speak with a member of management.I spoke with  XXXX . He also wanted to know why i wanted to settle.he kept telling me that we have n't spoken with you in over  XXXX  years. i informed him that he is the creditor and they should have been contacting me, but i am reaching out to them. i offered to settle the amount,  XXXX  still wanted to know what happened to cause me to call in, i thought his account fell behind when i was laid off, however this was not the account, i then told him i do n't remember what happened but today  XX/XX/XXXX  i would like to settle the account.I was informed that my account was inactive, they are not actively collecting on it. i informed  XXXX  that this is not fair, they used a predatory act on me with this account.they continued to charge me fees and interest on this account even though they had the secured collateral of  XXXX  $ to close me account without charging fees. I informed  XXXX  that you if you all were to sell this account to a collections agency you would only receive pennies on the dollar, a lot less than the  XXXX  i was offering. I asked  XXXX  to settle the account for that amount and send a letter.  XXXX  proceeding to " mock " me by saying " ohhhhh you want a letter. '' I informed  XXXX  that this account will come off of my credit in   XXXX    years and nothing would be paid. he then offered a  XXXX  settlement, i informed him again i have  XXXX  ... all the while he was informing me that they do not do settlements, and he was more concerned about why i wanted to settle and why should he settle with me when they have n't heard from me in years. I informed  XXXX  that is is bad business not to obtain the available money knowing the situation on the account and that is, the debt will roll off my credit in   XXXX   years, they have n't actively attempting collections ( mainly because they already have their funds and this is solely profit, predatory fees and interest. )  XXXX  then offered a  XXXX  settlement. I informed him that i have  XXXX  available right now and that is more than enough being that i should have never been charges these fees when you they had the secured money available, you all did not want to close the account, you wanted to continue to get fees which is unfair. I informed  XXXX  that i am a single parent mother, i had a little extra money from taxes and i wanted to right my wrong with this debt. I informed him that i initially called them, they have n't contacted me, they are not actively collecting on this account, they are not going to sell this account, and it is just sitting on my credit unnecessarily XXXX  declined my offer. His job is to collect money, not turn money away. He wanted to do a payment arrangement, i informed him that i was n't interested in that, i wanted to settle. I know that bank of america would not be pleased with him letting money walk away, specially with the circumstances of this account. please pull this call, again, i called the  XXXX   XXXX   XXXX  # i was transferred twice, and i spoke with him from my cell number around  XXXX  or  XXXX    XXXX    EST. I do  not feel that it is fair that i was charged an additional  XXXX  in fees and charges when BOA clearly had the secured collateral to close the account without charging anything additional. i am a single parent mother, i do not have a lot of extra money but i tried to settle.

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