Consumer complaint received 2015-12-24
Product: Credit card — 
Issue: Arbitration — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (AL)

My family had experienced a job loss back in XXXX of XXXX. Out of close to a $ XXXX monthly gross we were reduced to only my income of around {$1000.00} gross. Immediately food, mortgage, a phone and internet access for another job opportunity in the month of XXXX became the most vitally important expenses. I was able to get food stamps by XXXX, and my husband was able to find a very part time employment at a significantly reduced pay by the end of XXXX. We are also in the process of divorce, of which the job loss to some small extent was a deciding factor. Not the loss per se, but rather the circumstances surrounding it. He had contacted his credit card and student loan, I had contacted mine in that first month. My student loan prior to food stamp acceptance said my debt was less than a certain percentage of my total income, but may be able to work with me in the future. My other credit card said can put me on a plan for one year until things get situated. My XXXX XXXX XXXX, through Bank of America, the one I am complaining about, is a different story. I called them back in XXXX to explain my situation and was at first offered a reduced rate with a reduced payment and no late payment penalties as long as it was not over a certain period of time but it would close the account. I said I accept. I received a letter saying I was ineligible for this offer. When I called them to ask why, I was told it was due to the fact that my issues were considered temporary, the monthly payment did not save me significantly, therefore it was better to keep the card open and just pay the regular payment that over time would be viewed in a process that may lead to my not having to pay the one month plus and that if paid the minimum due I would not be charged late fees. The next month I found this to also be untrue. I spoke with a representative and asked to speak to a manager who also at first offered to close the account at a much reduced interest rate with a slightly higher minimum due, then said wait, that is only for a permanent change. He explained to me then there was a program to drop off the overage ( like before ), but that I would be charged late fees, but so long as made their new minimum due that was {$41.00} higher it would automatically enroll me in said program but he could expedite it with an application. I was confused and asked him would that change next month, when another late fee is added, and I would probably also then be considered over my account? I have been told several different stories by now and have no reassurance I will get any of these programs, and in the mean time my bill is going up when I still have to make priority payments on my paycheck. I called them back at a later point to speak with yet another manager after a call to collect a debt, and explained to her my situation. She at least was able to clear some of the misunderstanding on policy I doubt some of the employees were familiar with, and said would attempt to see if could drop the late fees at least. I was called back by her that she was unable to do so. Here is my complaint : 1. That I have made a real and consistent effort to work with them during a period of hardship aka loss employment of the husband and " bread winner '' and divorce 2. I missed one month payment that I have yet been able to make up on top of the new month 3. That I am being charged with a late fee every month since despite paying the minimum due, because I am still unable to pay the one month plus late fee each month 4. That by as soon as next month I might pay the minimum monthly due again at an increase, but unless pay that plus the one month I will be charged a higher late fee, plus a higher minimum, plus an overage, plus a penalty higher APR. XXXX. That I was told very conflicting solutions and told denied and 5. That I have had this card since XXXX and again, one month miss