Consumer complaint received 2024-04-09 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA

Complaint narrative:
XXXX Years ago a joint checking and savings account was opened between my wife and I and at the time it included a reserve credit. Late in XXXX we were notified via email, I believe, that the account would be closed. I called to see what this was in relation to and was told due to inactivity it would be closed. If I wanted it to remain open I could simply transfer {$25.00} dollars into checking account. I did this over the phone with the rep online. Since then, in my error, I did not payback the {$25.00}. I have several Bank of America accounts and all have been paid timely. This payment was a complete oversight. I was never alerted, contacted or made aware of the late payment that was due but anyone taking a look at my account would be alerted that all other accounts were in good standing and clearly this payment of $ XXXX was just missed. 

After the XXXX Days this account was closed and written off ( Around XX/XX/XXXX ). Never any information from Bank of America regarding this. No alerts, no paper mail and no Email notifications. Junk mail was also scanned while on the phone with a rep at XXXX point and none of them ever made it to an inbox. 

In fact the only reason I was even alerted of this was because I was denied a loan and found that BOA had reported late payments and a write off. Within days the outstanding {$27.00} ( $ XXXX ) was paid and am awaiting this to make credit reporting. Credit score always over XXXX was now down near XXXX but recent late payments were flagged on the account. 

Reached out to Bank of America to see if they could assist and was met XXXX a very friendly rep who assured me that this could be fixed. Shortly after that first phone call the reps that contacted me were less helpful, accusatory and stating that this was my error and Bank of America did what they had to do and this was my problem. My credit impacted for 7 years over a simple {$25.00} error. There were several calls into BOA and no resolution was ever offered. The account is paid off with interest and it is very clear to anyone looking that this was an error and not avoidance of a payment. 

However, Bank Of America refused to assist on my behalf ( customer with multiple accounts for over 20 years ) with any remedy. No understanding, no explanation of any part, This was our fault and Bank of America could and would not assist. When asked about guardrails or alerts it was never answered and the finger was always pointed back in our direction. 

This mistake was our oversight and understand that we missed this payment for months but it was simply a mistake and an error. A mistake that has been remedied but the damage to credit score is done and I find it very hard to believe that Bank of America on its customers behalf can not offer a single solution to improving this situation.

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