Consumer complaint received 2018-11-23
Company: BBVA FINANCIAL CORPORATION
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
BBVA - XXXX XXXX XXXX Credit Score Ruined XX/XX/XXXX In XX/XX/XXXX, we ( XXXX XXXX XXXX ) applied for a Construction XXXX XXXX with XXXX XXXX but were denied because of bad credit, low XXXX credit score. We were shocked, thought we had perfect credit. We are responsible business owners in our XXXX, pay all of our bills on-time, do not have any credit card debt and make a good living. Never saw this coming and we are devastated. Not only can we not obtain a mortgage for homeownership but we can not get loans to build XXXX XXXX XXXX is  our livelihood for the past 30 years. We are in trouble. 
Apparently BBVA had been sending our Visa credit card statement to an erroneous address and a {$40.00} charge did not get paid for months. BBVA made no attempt to notify us of this issue which ultimately ruined our credit and now we are unable to get a mortgage or spec house loans. As a matter of fact the Teller at BBVA researched our account and it showed that our Visa paper statements had all been sent back ( returned to sender ) to BBVA, so they were aware that we were not receiving these statements. 
Our BBVA Visa credit card was opened at the same time we got a {$120000.00} BBVA equity loan on our previous home, used loan to do some major remodeling. Loan was opened on XX/XX/XXXX. 
We did not ask for, nor did we knowingly apply for the Visa card but BBVA offered the Visa card along with the Equity loan. They also offered us a discount on our loan payment if we opened a checking account and gave us a {$1000.00} overdraft protection account. Again all we applied for and intended to get was an Equity loan we never asked for the Visa, checking, or over-draft protection account.

At some point after opening equity loan, along with the other accounts BBVA threw in, we realized BBVA had an erroneous address for us so I ( K ) physically went into the local bank branch to have the teller go into our accounts and change our mailing address to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. Note that our XXXX XXXX mailing address has been the same for over 20 years and is the only address that we have ever used. 
Currently our statements for the Equity line of credit, Checking and Overdraft Protection all show the corrected address. But not the BBVA Visa, it still shows a bad address that BBVA imposed on us when our accounts were established, which is 50 -- -- -- -- -- -- -- -- -- -- -- -- -- --. Obviously the Teller did not change the address for the Visa at the same time she changed address on other accounts. Much to our ignorance we believed that when I physically went into the BBVA bank branch and changed our address to XXXX. XXXX that it changed our address for ALL of our BBVA accounts. This is how it works at XXXX XXXX where we have banked for over 30 years. But the Teller at BBVA did not notify me that the address change was not for all accounts so we had no way of knowing. 

Also, unbeknownst to us, the BBVA Visa credit card was never linked to our online account for us to see any activity and we had never received a paper statement to make us aware that the Visa card was not linked to our online account. Since never ever receiving a separate statement for the BBVA statement, had no idea there was a separate statement, we believed the blue Visa credit cards were linked to our BBVA checking and overdraft account. We never even used the BBVA Visa until 8 months after receiving card when we used it once for a {$40.00} computer security program again fully believing it was linked to our checking or overdraft account, which had and still has more than enough money to cover {$40.00}, so we certainly never thought about it not getting paid. 
The address shown on our BBVA Visa credit card statement is XXXX  -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - which was an old address where we rented temporarily before we bought XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- house in XXXX of XXXX, financed by XXXX and got equity loan by BBVA. 
Note that we had lived at XXXX for a year before we obtained the Equity loan from BBVA so we would not have ever given the old temporary rental house address of XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - as our mailing or physical address. Our guess is the BBVA Mortgage Officer, XXXX XXXX XXXX XXXX XXXX XXXX-, or someone else at BBVA who inputted our information into the system, saw this address on our credit report ( I guess ) and inputted this bad address? Again our correct mailing address for over 20 years is XXXX. XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --. 
Also, I am not sure how we received the physical BBVA Visa credit card being that BBVA had wrong address on our Visa account. But when we moved out of rental house the summer of XXXX we did submit a change of address with the XXXX  Florida Post Office ( from XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- and forwarded to XXXX. XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ), just to make sure if anything unknowingly sent here, any packages etc, they would eventually find us. So possibly the credit card was forwarded to us and is how we received. 
The change of address forwarding of mail through the postal service is only good for a certain amount of time possibly was in effect just long enough to get the physical card forwarded to us but shortly after expired before we could start receiving the statements. PERFECT STORM! 
So not only were we unknowingly not able to view our Visa statement on our online banking we were also unknowingly not receiving the paper statement by mail because BBVA did not change our mailing address as I requested, resulting in ultimately ruining our credit. 
Once we were made aware of the unpaid charges we immediately paid cash in person {$40.00} on XX/XX/XXXX at the local XXXX BBVA bank branch. Although the account is paid in full BBVA is still reporting the status of our account to the Credit Bureau as a Charge Off   which has ruined our credit score. We are not experts at credit reporting language but seems like if an account is paid in full by the consumer, it could not also be Charged Off, either is was paid in full OR it was charged off as bad debt. Which Charge Off seems to be the worst status to have, ruined our credit like its close to foreclosure or bankruptcy. In addition our BBVA Visa account currently shows that it is open and has a {$200.00} credit limit. Everything is conflicting as to the status of this account. 
Anyway we understand our part, our responsibility part, we made the {$40.00} charge and missed following up on it to make sure it was paid. Trusting our bank had our back, online banking linked, changed our address to correct and receiving our statements for all accounts. Although we are not 100 % to blame, BBVA holds some responsibility here too. Yet we are ruined, our bread & butter business ruined, no spec loans and possibly we cant qualify as a XXXX XXXX XXXXXXXX XXXXXXXX XXXX   for our customers. Plus the loss of obtaining home ownership - but BBVA remains unscathed and unwilling to help us out of this mess. This is not right! Is there anyone human at BBVA? If a human with common sense looked at the situation I dont think they would elect to ruin these people ( XXXX XXXX XXXX ) over {$40.00}. Plus we are a BBVA customer, does this not mean anything? Why would BBVA want to ruin us? Does BBVA value their customers? 
We borrowed {$120000.00} from BBVA, made every payment timely and paid it off in full. Perfect customers. When the {$40.00} charge was made we had and still have the money in our BBVAs accounts to pay the {$40.00}. 
Bottom line - BBVA hooked us into this credit card offer with the equity loan mortgage. Then flubbed up by not having it logged in correctly so when we checked online it did not show up - and they used a bogus address to send the bill - when the bill was returned they made no good faith effort to correct their billing and notify the customer. Now no good faith in trying to correct the damage. As a matter of fact once we paid the {$40.00} balance on the Visa, BBVA changed the credit rating status from bad Delinquent Closed Account to an even worse status Charge Off!!! WHY????????????????????

BBVA hands are definitely not clean. They bear some weight of the burden here. It does not make common sense for a customer to pay off {$120000.00} and be a charge off for {$40.00}. What is wrong with this picture? Does anyone care enough at BBVA to get to the bottom of this fiasco and try to figure out a solution? 

TO RECAP : XXXX. XXXX XXXX XXXX received {$120000.00} 2nd mortgage equity loan from BBVA 2. BBVA hooked on a credit card with the mortgage 3. BBVA hooked on a bogus address to the credit card 4. XXXX physically went to the BBVA branch to correct address 5. XXXX XXXX XXXX sold home, paid off BBVA {$120000.00} 2nd mortgage equity loan, perfect payment history, perfect customer 6. XXXX XXXX XXXX applied for mortgage to buy new house - found out CREDIT RUINED by BBVA - emotionally went to pieces and got sick-we are a small business, our credit rating is our life 's blood, we will be ruined 7. BBVA had not corrected our address on the credit card, therefore there was a mere {$40.00} balance that had not been paid by us because BBVA had flubbed up on changing our address. In fact they had  used such an old address where we didn't even live when they first issued the credit card. We have no idea where they dug up that old address. THIS WAS THE MAJOR FAULT THAT HAS CAUSED OUR DEVASTATING PROBLEM. 
8. We do not know why BBVA did not change address when we went to the branch to have this done, we do not know why they did not catch their mistake when the credit card statements were returned to them, we do not know why they did not note we had an overdraft protection on our account and had paid off {$120000.00} so we obviously would not try to dodge paying {$40.00}. Does this sound like clean hands by BBVA? Why can't they just realize there were many mistakes made by all the parties and take the " charge off '' our credit report, and save our lives, STOP THE BLEEDING.

Company response to consumer: Closed with non-monetary relief