bank of america

[glc4122]

has anyone had dealings with bank of america on deliquent accounts, as the time frame before it goes to a outside collection agency?

[SinkingFast]

BoA never did turn any of our "original" BoA accts over to outside collections. We went right at 10 months of no payments before we filed.

BoA did, however, start pulling our Credit on a regular basis. At first it was a casual "monthly" type pull. Then, the closer we got to filing, BoA started pulling weekly. I'm guessing they were looking to see who all we owed how much to and if we were paying anyone else any monies.

We had an MBNA acct that BoA took over during our "no payments prior filing" period. That acct got sent to Collections before we filed. Right at about 6 months of no payments. We got the standard "Pay up or else" threat letters a couple of times but the never actually did anything.

[BKTango]

Usually it takes about 6 months to go to outside collections. But, there are sometimes when it's later or sooner. Like mine, they sent my account to outside collections not too long after I was deliquent. It didn't take long after that for it to be sent to a lawyer a few towns over. They served us about a week or so before we filed.

[havetodecide]

They sold my account in 4 months, BOA and MBNA

[danaf]

I hate BofA and they aren't going to like it when I file.

[tried_to_hard]

BOA hates me, just filed and most of it is now theirs since they took over MBNA

[thewife]

Bamk of America was HORRIBLE to deal with and thats why I decided to file. They kept calling my work place even though they told them that I only work 2 nights per week, they called my In-Laws and told them that I needed to call them back right away, and this really upset me because I do not want my in-laws to know my financial troubles. After skipping almost 6 payments, I made payment arrangements with them and paid on time and yet they continued to call my work, so I could not take it anymore, stopped making the payments and contacted a lawyer. I owed them almost $11,000. It was at least 6 months before they sent me to collections I think, and they kept leaving messages trying to work with me. Of course I did not call them back. I had this account for a long time and would go long periods without paying a dime.

My cousin got a lawsuit from BOA and luckily she was in the bankruptcy process, but it sure did embarrass her when the sheriff arrived at her door to serve her papers. Since telling them that I have retained a lawyer, I have not heard one word from them. My phone stopped ringing and I am able to breathe again.

They are not fun to deal with at all.

[SinkingFast]

When I first joined here there were people who easily went a year or more without paying Creditors.

At 10 months, some of ours were beginning to make a move.

It seems,......... Over the course of this year,.......... '07,............. Based on postings made by people here,........... Creditors are becoming much more aggressive.

Is it just me or have others noticed this trend too??!!

[CindyLou]

owed boa 12,000 only got letters and a few calls. never went to outside collections. Hardly knew they existed. Couldn't even hardly get them to report IIB.

[JRScott]

When I first joined here there were people who easily went a year or more without paying Creditors.

At 10 months, some of ours were beginning to make a move.

It seems,......... Over the course of this year,.......... '07,............. Based on postings made by people here,........... Creditors are becoming much more aggressive.

Is it just me or have others noticed this trend too??!!

They are becoming more aggressive. They know the clock is against them I think. They argued for the new laws to curb abusive bankruptcy however the problem wasn't the folks that were declaring bankruptcy it was their lending policies.

Much like the subprime mortgage business the credit card companies have allowed folks to obtain credit that they probably shouldn't have had to begin with. The mortgage crisis is also leading more folks to bankruptcy, the credit cards are hoping to get their money before that happens.

Within 20 years we'll have a major crisis with the major credit card companies much like we have in the sub prime market today unless they change their policies.

[tomuchtohandle]

They were horrible. Calling my house all the time, calling work, calling my sister who lives in another city!!(said they called my neighbors but who knows) They never sent my account to collections and I would say it was at least 6 months late.

[treehugger1]

BOA/MBNA is working with me. They gave me a 5-year plan at less than 2% apr. Unfortunately, I hit a deer with my 07 corolla last weekend and the comprehensive deductible is $500. Looks like I'll be on the phone in a week or two pleading my case. What can I say, I tried to pay them these past few months. I do notice that they occasionally pull my credit report (soft-pull) and probably look to see who's getting what. They probably feel lucky, LOL. I also noticed that CAP1 is pulling my credit monthly. Maybe they will see the good deal I got from BOA/MBNA and CITI and leave me alone for a bit. All-in-all, everyone must grimace when they see that $150K debt amount and realize it is all unsecured. In over a year of dealing with my creditors, I've only had one judgment (paid it off, and the county cleark said it never even made it to the public files, lucky), and one other account in collections (only owe another $250 on it), and 3-4 in the hands of out-of-state collection agencies. A few cease and desist letters and a call or two to the state attorney general's consumer finance division, and I haven't heard a peek from the out-of-state CA's. I figure it is only a matter of time before the sh*t pours down, but I don't expect anything too horrible before December. That's only three months away! Maybe I'll have reasonable peace and quiet for another six months. I think if you have a long history with the big companies, they are more likely to wait it out for 5 - 6 months. Especially, if you have had rough times int he past and pulled it out. But, I'm just speculating.

[Bandit]

BOA has offered me some very good loans that I took advantage of. Several at 0% where it did not cost me much of anything for the loan. I can also see how they operate though, trying to get people into these traps with sneaky little loans, piling the high interest on the bottom then wait for the right moment to snatch the prey if you make one little mistake.

They sent me a bill for 90 cents one time & that ticked me off just a little. Most banks just make the adjustment to 0.00 when that happens but the girl on the phone insisted "WE WANT OUR DOLLAR BACK!" ...then went on and on about how I would owe 39.00 if I dont send the dollar on time.

[Bandit]

They are becoming more aggressive. They know the clock is against them I think. They argued for the new laws to curb abusive bankruptcy however the problem wasn't the folks that were declaring bankruptcy it was their lending policies.

Much like the subprime mortgage business the credit card companies have allowed folks to obtain credit that they probably shouldn't have had to begin with. The mortgage crisis is also leading more folks to bankruptcy, the credit cards are hoping to get their money before that happens.

Within 20 years we'll have a major crisis with the major credit card companies much like we have in the sub prime market today unless they change their policies.

I can see this also. The whole system is flawed in many ways. I know they are still making money though, through the impossible interest rates and people keep sending those minimum payments. I do agree with the part of the lending policies. I have lines of credit that I would never use because I know I could not pay it back in a reasonable amount of time. I think they know it also but they set it out there like candy....take it, use it, go on vacation, pay the utilities and all that stuff.