Consumer complaint received 2018-12-02
Company: BB&T CORPORATION
State: SC
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:
In XX/XX/XXXX I requested a deferment on two vehicle loans financed through BB & T. This was done for the purpose of buying time to rearrange my entire financial structure due to the fact I was preparing to take care of my injured wife and it would require 24 hours a day to do so. She was released from the hospital on XX/XX/XXXX into my car after suffering a XXXX XXXX XXXX as well as other multiple XXXX and XXXX in a motorcycle accident with no witnesses and thus no insurance money. After careful examination of my finances I knew with my current credit score of nearly 780 I could wait until about XX/XX/XXXX and obtain an equity loan from my home that was appraised over 100,000 more then owed. Waiting until XX/XX/XXXX would give me time to see exactly was coming my way as far as medical expenses and other unknown items. Keeping my credit score at the level it was of great importance and thus the request for the deferment. The request for two months of deferments was approved on XX/XX/XXXX. At the beginning of XX/XX/XXXX I went on line to find out exactly what was due and when. In doing so I used the information provided on the right side of my statement as I always have which indicated the next payments due were XX/XX/XXXX and XX/XX/XXXX so on XX/XX/XXXX i sent in over {$1100.00} in payments which covered the majority of what was due and would make up the remaining amount at the end of XX/XX/XXXX using my military retirement if I had not managed to have already paid it. At the beginning of XX/XX/XXXX when I once again looked at my statements it indicated I was past due for the months of XX/XX/XXXX, XX/XX/XXXX. and XX/XX/XXXX and did not show where my payments from XX/XX/XXXX went to. I contacted the bank, BB & T, and no one could explain what was going on. After numerous phone calls and complaints I contacted the XXXX XXXX XXXX for assistance. Due to the fact that now the one thing I was trying to prevent had already happened and missed payments were turned in that should not have been and without any explanation as to where my money went I made no further payments until XX/XX/XXXX even though none of the information had yet been fixed or explained. Finally I received notification from BB & T that for some unknown reason the information on the right side of the statements was now wrong and the payment I thought was sent in for XX/XX/XXXX was actually applied to XX/XX/XXXX but no where was that indicated on any billing paperwork. BB & T said they were diligently working on fixing the problem which took until around XX/XX/XXXX to do so. I finally called the mortgage broker I had always used and told him I wanted to do the refinance with cash out to keep for paying other monthly bills and maintaining my credit status. As a direct result of all the missed payments turned in from BB & T my credit score had dropped below 620 and the refinance on my va loan was not able to be done. Finally in XX/XX/XXXX BB & T went back and removed the missed payments for XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX.  They however, after sending me inaccurate billing information refused to correct following months even though it was a direct result of inaccurate due dates and amounts showing on my statement. Once my refinance was turned down it mattered very little if they went back and corrected the information because not being able to obtain the cash I needed from the house caused an avalanche of financial problems. Since that time they removed 8 out of 12 of the initial late payments which did nothing to help the financial damage they had caused. My credit score remains in the low 500 range and obtaining any type of loan to catch up on missed payments is impossible. They ruined the credit it took me over 40 years to achieve and have cost me tens of thousands of dollars in damages thus far and over the next decade will probably exceed {$100000.00}. As I set here still going through a long recovery process with my wife in jeopardy of losing the home she desperately hangs on to because it is one of the few things she feels she hasnt lost. It is ridiculous that a multi billion cooperation totally ignore the financial devastation they caused to include having the ability to help my XXXX year old XXXX to pursue there education past high school. It is totally unfair that they can get away with such business practices and not have to pay restitution for the damage they caused

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