Lesson Learned: check your credit report often
May 5, 2011 1:26 PM Subscribe
Last year I went on a hardship repayment plan with my Bank of America visa. No problem...until I see my credit report!!! They are now saying I should have known better, and there is nothing they can do. Do I have legal recourse to force them to revise my credit rating?
posted by archivist to Work & Money (13 answers total) 4 users marked this as a favorite
The hardship repayment plan basically cut my payments in half, and allowed me to make timely, monthly payments. Great, I thought.
Accept when they started me on the plan, I was one month past due. That one month past due amount carried over EVERY MONTH FOR A YEAR. The payments were being automatically withdrawn from my checking account, so like an oblivious, trusting consumer, I assumed everything was rolling along nicely. Except that BoA was reporting me 30 days late every month (it would go late, the payment would process, repeat). I called them and explained that I have made timely payments every month but they said there is nothing they can do to retroactively adjust the credit reporting. ( I spoke to someone in the office of the president who investigated and got back to me three days later).
I am not trying to lay blame - obviously it's my fault. But do I have any grounds to get the negative reporting removed considering my good faith effort to continue paying?