Consumer complaint received 2019-02-22
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Struggling to pay your bill
Sub-issue: Credit card company won't work with you while you're going through financial hardship

Complaint:
In XX/XX/XXXX, I was going to file a chapter XXXX Bankruptcy. On XX/XX/XXXX I realized a chapter XXXX BK was not good for me. On XX/XX/XXXX I notify Bank of America i would not be filing BK and ask did they have a hardship program? they said yes, but i had to work with their debit management company. The XXXX XXXX XXXX BOA referred me to was unable to assist me, because all my other creditor had already put my account in a hardship program with set monthly payments. The accounts was closed and no interest are being charge for the next 60 months. On XX/XX/XXXX, I called BOA again, stayed on the phone for approximately XXXX hours with collection requesting for a hardship program again. I provided all my financial assessment, to be inform i did not qualify/approved for the hardship program. On XX/XX/XXXX and XXXX, XXXX, I called BOA again requesting a settlement for the XXXX account ; i was informed no settlement offers on the accounts at this time. I would need to call back on XXXX and XX/XX/XXXX ; once the cycle closes for the accounts. Again the BOA did the financial assessment, stated i did not qualify/approved for the hardship program. At this time, the account has not been paid in 4 months, late fees ( {$38.00} ) are accruing and the interest rate have increased to the maximum amount. On XX/XX/XXXX, I paid one of the accounts off, because they refuse to do a settlement with me, but continue to charge the late fee and high interest rate on the BOA rewards card. I called back to bank and informed them I had reduced my debit by paying off a call loan and the BOA account, do i qualify for an Hardship program now? I was advised i do not, because the package can only be submitted once a month. I was not informed of that. I'm filing this compliant against BOA, because it appears BOA would rather have the balance increase with late fees and interest before they will help or charge the account off and submit to collection company. I communicate with BOA monthly to get some help. I have received not assistance from them at all. In XX/XX/XXXX the balance was approximately {$6000.00} and now the account is {$6600.00}. What BOA keep offering to me, to then not approve is an payment of {$130.00} a month, with an interest rate of 4 % ; still would charge {$38.00} late fee until the late payments are pain in full. At this time the total minimum payment due os {$1000.00}. I will never get ahead in paying this bill. in my opinion the credit practices are not to help the customer but to help the bank make additional money off the client who is having a financial hardship. I lost an income in XXXX, I have taken a loan out of my XXXX  and have done a hardship XXXX loan to maintain my debit, to be here now asking for help. Please contact me if you have any question please contact me

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 monetary relief