Consumer complaint received 2022-03-26
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MI
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
Reference- Bank of America vehicle loan number # Account # XXXX Hello there, I hope you can help me resolve this issue with Bank of America XXXX 
I had used the bank in XX/XX/XXXX for a car loan refinancing my loan from another bank. I have all statements from XX/XX/XXXX to XX/XX/XXXX showing the account in good standing with minimum payments made on time and NEVER late. 

I made payments on XXXX, XXXX and XX/XX/XXXX that are not reflected on my credit report. I paid in XXXX exactly what the statement requested and paid in XXXX the minimum amount requested online, then was notified by credit bureaus of negative reporting of the account on XX/XX/XXXX as Charge Off for Non Payments! I immediately paid the account OFF IN FULL ON XXXX XX/XX/XXXX. 

I disputed with the Credit bureaus and with Bank of America them selves and was told that the information is accurate which in fact it is not accurate, my account was never past due, and moved from good standing immediately to derogatory and charge off. I was told the account was charged off XXXX XX/XX/XXXX, however all preceding payments were done timely and with the amount requested to pay or more. 

I was then told by Bank of America that the real reason for the charge off it is that the bank did not receive a copy of the title for the vehicle. 

This is a clear relation of the fair credit reporting act since my account was never passed you and all my statements never reflected any communication from the bank requiring any additional payment on the account was it charged off and this is evident wi the statement received in XX/XX/XXXX and all minimum payments that continue to be requested on my account online since my account did not have physical statements. 

Bank of America maintains that they sent me a letter requiring full payment end of XX/XX/XXXX which I never received, there was never any indication in any of my statements requiring full payment. I have all the statements and all my payments from the initiation of the account in XXXX until the account was paid off were all paid from my Bank of America checking account which is a clear evidence of timely payment as well. 

I am being treated as if I didnt fulfill my payment obligation to the bank and did not pay my loan, my loan has been paid in full and was never, ever late, evident with the statements from the bank and the proof of payments from my Bank of America itself. The bank charged off my account as a bad debt it could be to avoid taxes or I dont know what, but now reporting to credit bureaus incorrectly as Charge Off shows that Im not responsible with my payments and that is against the fair credit reporting act as my payments were all done on time as required and I need your help please to resolve this issue. 

I have reached out to all credit bureaus, all what happens is that they ask the creditor which is Bank of America Bank and Bank of America looks at the books and comes back and says yes that account is a charge off but no one takes the time to check why is it really a charge off and is it for nonpayment or not and should it have been charged off as bad debt when payments was never late. 

Thank you in advance for your help, XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MI XXXX XXXX XXXX XXXX XXXX Please find all statements attached and proof of payment as well as final evidence of full payment from the bank.

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