I got a personal loan to pay off my credit cards back in October of 2005. Everything seem to go fine with all of my cards except my Bank of America card. First Commonwealth Bank (my lendor) sent the check and it was processed. A week later Bank of America sends me a letter saying there wasn't enough funds in the checking account the check came from. I thought this was weird since this came from First Commonwealth's account. Anyway the bank manager helped me with the situation and found out that it was Bank of America's fault. The situation seemed resolved in May. Then a week later Bank of America sends me another letter saying the same thing as before. Now here I am with the same situation I was in 10 months ago. First Commonwealth did an investigation on their side of the transaction and concluded that the money was processed and left their account back in October 2005. It is Bank of America's fault, but they are giving me the "run-around." What should be my next action?
2006-07-26 04:06:04 · 4 answers · asked by pokerhulk5252 1 in Business & Finance ➔ Credit
This has happened to someone I know. Contact your Attorney General's office in the state you live in. Also, send a letter of dispute to Bank of America. Be sure to get the correct address to send your letter to, keeping a copy for yourself. They'll have to initiate an investigation and either resolve the issue or explain why they won't. If that doesn't work, you may need an attorney who specializes in Consumer Law. Good luck?
2006-07-26 04:25:45 · answer #1 · answered by jeannieunderwood2003 2 · 0⤊ 0⤋
get a copy of the canceled check front and back. send it to bofa and tell them that the bill has been paid since that date and that they must clear any discrepancy on the credit file per the fair credit reporting act. Tell them that if you are ever denied credit based on their reporting that you will seek any remedy in court. Do this in writing --registered mail with a return receipt so you can prove that they received it. Save the receipt and a copy of the check as proof. You very well may need it. Check your credit report in about 60 days to make sure. Then challenge the bad report it it is on there.
2006-07-26 04:14:49 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋
Try to contact the original person that you talked to to get it resolved the first time. I know there is nothing more mind wrecking than to deal with banks. At times its like we are doing their jobs for them.
Another option is contact B of A and give them a person to contact there at First Commonwealth and let them figure this out.
Good Luck to you!!
2006-07-26 04:11:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Go through your bank again, where you got the loan from and have then research everything and they should also help you contact BOA and see what is going on.
2006-07-26 04:10:25 · answer #4 · answered by C 3 · 0⤊ 0⤋