Consumer complaint received 2018-12-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TN
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I was working with the Bank of America Home Retention Dept. to have my HELOC agreement modified. During the period of documentation, I paid the much higher payments that the HELOC required after it matured in XX/XX/2018. In XX/XX/2018 I was approved and was told to make three payments of only {$680.00} in the months of XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. I made the first payment in XX/XX/2018 but BOA told me that it had to be in XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, and not in XX/XX/XXXX. Of course, the Bank did apply the too-early payment of {$680.00} to my principal. Then I properly paid the XX/XX/XXXX-XX/XX/XXXX payments and was accepted into the Home Retention program by a written modification of my previous HELOC. ( The Loan Number at BOA remains the same. ) However,  the BOA computer was unaware of the Home Retention modification and of my being told to make the three payments of only {$680.00} in XX/XX/XXXX-XX/XX/XXXX. The computer was expecting me to make the much higher payments that I had been making from XX/XX/XXXX to XX/XX/2018. Accordingly, the computer declared that I was in default for four months, the months of XX/XX/XXXX-XX/XX/XXXX. As I have explained, I made the payments I was told to make for these months, the payments of {$680.00} per month. I was in fact told by BOA to ignore the notices from the Bank that said I was in default. She said, " just ignore those letters. You're going to keep getting them, so just ignore them. '' Therefore, my " default '' was not really a default at all, but has been reported to all three of the credit reporting agencies, harming my credit substantially. BOA has frozen my overdraft protection account and has reduced my credit card limit from {$27000.00} to {$7200.00}, all because of its reliance on a defective computer-made decision. Note that this was not a " mistake '' and would happen to everyone who, like me, was applying for a modification through the Home Retention Dept. The computer did what it was programmed to do. It wasn't a " mistake. '' It was a failure to program the computer systems at Bank of America to  communicate with each other, thus leading to " the right hand not knowing what the left hand is doing. '' My line of credit account is frozen, my XXXX credit card limit has been reduced from {$27000.00} to {$7200.00}, and my overall credit rating has been devastated. My " fault '' was doing exactly what BOA told me to do and never missing or late on a single payment. 

The attached letters from BOA demonstrate the inconsistency of its operations, leading to harm for the consumer. The first letter shows me owing {$11000.00}, and the second letter on the same HELOC number is a notice to pay the correct and newly modified payment, {$680.00}. The two inconsistent letters cover the same billing cycle dates.

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