Consumer complaint received 2016-10-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Credit card
Issue: APR or interest rate

Complaint:
In XXXX XXXX I applied for an OPT out for lower interest, lower payment program with FIA Card services due to a permanent neurological disorder my wife has with escalating medical out of pocket expenses. The XXXX accounts that were used for completing home improvements ; Bank of America account ; XXXX with a balance of {$7200.00}, XXXX account ; XXXX with a balance of {$10000.00} both under FIA Card Services. An agreed monthly payment of {$130.00} for Bank of America at a fixed interest APR 4 %, XXXX monthly payment of {$190.00} at a fixed interest APR 6.25 % both paid automatically every month. 
Years of payment until XXXX XXXX due to my bi-weekly paydays the payments I elected to postdate for XX/XX/XXXX the customer care representative started to take the payments and stated she was unable to process my payments when I asked why. She placed me on hold and investigated returned to my call stated both accounts were moved to our recovery department. Requested to speak to that department the customer care representative from recovery said please call back in a few days your accounts are not here yet. Later I called the FIA Recovery Department to discuss my XXXX accounts the customer care representative stated my accounts were Charged Off due to non-payment for 120 days. I immediately requested a payment history they stated they could only send me 5 years of statements. I offered to make my agreed upon payments to the Recovery Department I was told that my accounts were not in their department anymore and may have been outsourced to one of their Collection Agencies. I requested a manager for an explanation.there. 
When I made contact again in XXXX XXXX I spoke with a XXXX XXXX XXXX, Account Specialist and I asked if they knew where my accounts went they are not showing up anywhere and I have not heard from any XXXX XXXX. He stated XXXX XXXX your accounts are still here and I paused and said how could that be no one else could ever find them all your FIA Associates said they XXXX have been sold to an external collection agency? He stated I am not sure about all of that but would you like to start making your payment today and we can set up XXXX months as your original schedule and we will report paid as agreed and when the accounts are paid in full it will be reported as satisfied not settled and stated he would send me a balance statement for my record and the agreement we discussed. 
Meantime I requested all XXXX credit reports from the XXXX credit reporting bureaus. To my surprise XXXX accounts appeared as a Charge Off and not 120 days late but 180 days late. I immediately contacted FIA Card services and wanted an explanation. The representative asked if I was ready to set up my next six month of payments I said no not until my accounts are reported paid as agreed and reverse the Charge Off she stated only a manger can do this so I requested to speak to a manager but XXXX XXXX XXXX, Account Specialist stated that this was strange how my accounts have disappeared for almost a year and no data being reported. Her theory was she recalled they had a system upgrade and some accounts did get lost during the system changed out might explained why XXXX XXXX stated they were here and never left recovery I spoke with XXXX representatives and XXXX managers. My accounts are still with FIA Card services and payments are being made the Bank of America balance owed are around {$900.00} and XXXX {$1200.00}. I have been paying as agreed but the account managers are telling me that they can not change the credit reporting from " Charge Off '' this action has caused a huge drop in my FICO score! They lost my accounts for a year and I was unsuccessful finding out where the accounts went never contacted by a collection agency? The accounts still remain with Bank of America. Not meeting the Fair Debt Reporting Act?

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