Consumer complaint received 2020-04-09
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Problem when making payments

Complaint:
I have an unsecured line of credit with Bank of America ( BofA ). It was opened maybe 15+ years ago and it is a program that is no longer being offered. There are very few people that still have this product and BofA has not invested any money in integrating this into their online and automated systems. I have talked to several people at BofA that have confirmed this. This lack of investment and lack of caring for people that are on this program have led to glitches with the online system and information available about the account that has resulted in my LOC getting frozen, put in Delinquent/Collections status and erroneous reporting to the credit bureaus. This treatment and behavior by BofA has placed on me a great deal of unnecessary financial burden, XXXX and inconvenience. I have written at least 11 letters to BofA, I have visited branch managers in four states on at least 10 occasions, I have made dozens of phone calls to people that say, " I can help you with this matter, '' and in the end they do nothing at all and drop the ball. After all of these contacts on my part, I have NEVER received any communication from BofA confirming that they have read and understood my complaint, and have NEVER received an explanation why they will not take corrective action. 

The specifics : BofA claims that I missed payments on my LOC, which resulted in negative reporting to the credit bureaus and freezing of my LOC account. However, 1. For this account, the online system makes no mention that a payment is late. For my other BofA accounts, the online system notifies you that a payment is late. This is is a system failure due to BofA 's lack of investment in properly integration and upgrading their online systems to properly support this account.

2. When you miss a payment on this account, the amount due the following month does not include the amount from the previous month that was skipped. This leads to the customer never knowing that there is a problem with their account. This is another system failure due to BofA 's lack of investment in properly integration and upgrading their online systems to properly support this account.

3. I NEVER received any letter or communication from BofA to inform me that my account was in bad standing, that any payments had been missed, or that it was frozen and sent to collections. I only discovered this while at a branch office discussing one of my other BofA accounts, and I noticed the words " Delinquent/Collections '' on the agent 's computer screen. The branch rep could not find any reason for " delinquency/collections '' so the branch rep and I called BofA Customer Care together and were told that none of my accounts were in " Delinquent/Collections '' status. Not even the BofA branch or Customer Care reps have proper information about the status of this account. This is due to BofA 's lack of investment in properly integration and upgrading their systems to properly support this account.

4. I have chatted with BofA representatives online and had them check all of my accounts and they confirmed that NONE OF MY BOFA ACCOUNTS WERE IN BAD STANDING. I have proof of this chat documented and have provided copies to BofA personnel on several occasions. Again, not even BofA personnel have proper information about the status of this account due to BofA 's lack of investment in properly integration and upgrading their systems to properly support this account.

5. There was NEVER a late charge assessed to this account. If I in fact missed any payments, then there should have been late charges as proof of any missed/late payments. NONE. And, this has been confirmed by several BofA personnel.

6. The statement and the online system for this account display a " payment due '' amount that does not reflect the true payment due for the month and can lead to a delinquency. I have a sad but true discussion in one of the BofA branches, with a BofA Customer Care rep on the line who repeatedly confirmed that I paid the amount due on my statement, but then kept saying the payment was short as it was not the real amount due.

All of the above items due to BofA failure to properly support the Unsecured Line of Credit product have led to 1 ) negative reporting of my account to the credit bureaus, 2 ) me fighting and losing hundreds of hours of my time getting bounced from one person to another, with none of the BofA people bothering to address the points that I have been making for almost four years now, 3 ) stress, impact to my business and inability to earn a livelihood due to BofA 's neglect and lack of concern on this matter.

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