This is the letter I FAXED to BOA today. I still find it hard to believe what they've done to me and my credit score...for no reason that I can think of...
should I seek legal damages? I'm sure I would lose. With the cancer and treatement side effects I don't have much energy. I guess I was naive...
I am writing you today to express my extreme disappointment (and disbelief) about how I’ve been treated by BOA. Prior to my finding out recently that I was reported by BOA to all 3 credit agencies that I was 90 days late on my mortgage loan I thought BOA was a caring bank.
The reason I thought this is because last September 2009 I was diagnosed with a rare type of cancer. I immediately started undergoing daily high radiation treatments. By November 2009 I was so sick that I could not swallow and had difficulty talking. I had to have a feeding tube surgically placed into my stomach to receive nutrition because I was unable to swallow. During this terrible period I called BOA (with much difficulty talking) to ask if they had any special programs or options to assist someone like me – a good customer that expected to be back to work etc in just a few months but would appreciate a break with house payments for 2-4 months since I was unable to work and was feeling very stressed about my finances. I was told by a helpful BOA rep. that I could receive a special forbearance agreement and my monthly mortgage payments would be suspended for 3 months (interest etc would continue to accrue). When I heard this I was thrilled because, while I could and would continue making my payments on time every month as I had for the previous 9 years, a 3 month break would relieve some of my financial stress. I was so happy and pleased that BOA had this program to help people undergoing an unusual and temporary situational stress. I soon received a contract that stated I would not need to make payments for Dec., Jan and Feb. (12/2009 – 2/2010). I was very happy.
I was BOA’s biggest fan at that point. Suspending my payments for 3 months while I was receiving chemotherapy. WOW, a big bank actually caring that I was sick and giving me a break for a few months. I told many friends and family how helpful BOA was.
I received the contract, reviewed it quickly (as I was extremely ill and thought I could trust BOA) and returned it.
I guess I was painfully naive or just plain stupid.
Shortly after my cancer treatment ended I returned to work and tried to get on with my life. I did sell my home (that was financed by BOA) in March 2010.
I recently discovered that the 3 months of suspended loan payments was reported by BOA to credit agencies as me being 3 months late on my payments!!! This report has ruined my credit. I contacted BOA thinking this was some kind of error. They now tell me that it is stated in the contract I signed that while they were suspending my payments for 3 months they were still going to report me as late to credit agencies. I am in disbelief. Why would they do this to me? What do they have to gain? What purpose does this serve to BOA or anyone? If I had realized that this was their plan (to give me 3 months of suspended benefits but reporting me 3 months behind on payments) I would NEVER have signed the document and would have found a way to make my payments on time every month as I had for the past 9 years. So now I’m going to suffer for years because BOA wants to kick me while I’m down???
For the life of me I just can’t understand what their purpose is.
Why won’t they take this off my credit report???? Yes, I signed this contact…..yes; I did not understand this point in the contract….but again…why??? Is it punishment for being sick and asking for some help?
• 9 years of on time payments
• BOA Signed agreement for suspension of payments for 3 months while undergoing daily cancer treatment
• Now reported as 90 days late on credit report
WHY???? Punishment for asking for and receiving help?? There is NO OTHER REASON!!!
Let’s end this now. Please fix this.