Consumer complaint received 2025-09-11 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Denied request to lower payments
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
I have an auto loan with Bank of America that I opened in XXXX of XXXX. Made all payments on time until last XXXX ( XXXX ) following hurricanes XXXX and XXXX, I experienced damage to my home and catastrophic damage to my business in XXXX XXXX Florida, an area declared a FEMA disaster area. While I was given a 90 day grace period by XXXX Bank on my mortgage, and the utility companies, I was not afforded that same grace by B of A on the auto loan. Apparently they attempted to debit my account for the normal ACH, but due to financial, medical and property damage, included loss of power for over 1 week, I was unaware that they even tried to bill my account and has it returned as an 'NSF '. Once I sold my home in XX/XX/XXXX, B of A continued to ACH bill my account {$1100.00} / month for my auto loan, XXXX XXXX XXXX XXXX. That continued until XXXX of this year XXXX when I really did have NSF in my account whereupon I called B of A to explain due to the hardships of the past year including extreme loss of income compared to when I bought the car, I am unable to afford my monthly payments. They advised that I was now 2 payments behind and approaching 60 days headed toward reposession. I asked what my options were, they said that if I could start making payments again, starting that day, that they'd be able to offer some deferred payments and allow me to take a break until I get back on my feet, or I can offer the car up for volantary reposession. I asked if they could give me 1 or 2 months of no payments, possibly reduce my principal balance or reduce my monthly payments. They advised that if I got the account current, they could suspend payments while I looked into selling or trading the vehicle. While I attempted to do that, I continued to get mail and calls from B of A saying if I didn't pay they would start the repo process. I asked if I paid the {$2200.00} back balance, would they refrain from reporting it to the credit bureaus. I did pay the back amount, then have made monthly payments in XX/XX/XXXX and XX/XX/XXXX but they are claiming for some reason that I did not, that I am still {$3700.00} behind on payments and as of today ( XX/XX/XXXX ) on day XXXX ' of late payments. They never allowed me to defer any payments without penalty, they never refrained from reporting me delinquent to credit, they never offered me any remedies. What they did is scam me in XXXX for {$2200.00} then that same amount in 2 monthly payments of {$1100.00} in XXXX and again in XXXX so that I have paid {$4400.00} since telling them of my hardship and instead of any relief, they have reported me to credit bureaus causing my credit to drop from XXXX as recent as XXXX of this year down to now XXXX or so. I am unable to qualify for a new auto loan even if I do surrender the vehicle. They said they would not report me to credit 'if I paid them ' as a way to manipulate me into paying, but then proceeded to injure me worse financially by both taking my money and reporting me to credit. I am receiving emails and physical letters saying due to my past due balance they are moving toward the repo process 'if I don't pay ' The thing is, I have paid, and I have made multiple efforts at least 5 different calls explaining the car is upside down in value, can they work with me to reduce principal or monthly payments and they have simply said NO. Pay up or surrender the vehicle, seems they are commissioned to collect there monthly payments and do not care that as a customer I am dealing with challenges and have rights. B of A is 'too big to fail ' and too big to care about there customers. I hope I never have to do business with B of A in any capacity for as long as I live. Hosting multi-million dollar lavish private events at XXXX XXXX in XXXX XXXX for their employees with payments from my auto loan, drinking champagne about the billions they are making while casually crushing my credit with their lies and deceit. Bad business B of A.

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