BOFA / Huge rate increases

1 Sherwood, OR, United States Review updated:
Contact information:
Phone: 503-925 9878

Our business as well as personal accounts have been with BofA for over 20 years. We have 2 checking accounts, our Caravan financed by BofA and 5 credit cards with BofA.

We recently received letters which INCREASED the interest on our credit cards an average of 10.99% (now 20.99%). We have not missed a single payment on all obligations (over 1400 payments mailed). Their response was "too much credit and higher limits"

Yet all along the've mailed "dozens of temptors with low rates, etc" which induced the consumer for additional credit and new cards. Then about 2 years ago the banking industry barely passed the NEW anticonsumer BANKRUPTCY LAW which severely restricted the consumer to pull out of a long term nosedive. Now that the Bush administration is about to end the banks "borrow $350 billions" and then flush the American families further down the drain with these 2x increases in interest rates.

The real hooker in numerous hi level telecons with BofA officials is that if we "opt" out of the credit cards we will still get hooked on the balance due at the new rate unless we pay them off. Other banks allow monthly payments in an opt out situation with out the new rate increases, and as expected no further use of their card issued to you.

The bottom line is this insane activity and rationalle by BofA will only further dig themselves into insolvency as the american public will retalialiate with slower and lower payments or cease payment altogether and let the legal system snowball. "you can't get blood out of a turnip"

Mr. and Mrs. Dale Lissner Sherwood Or.

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  • Va
      2nd of Dec, 2008
    BOFA - Bad Banking Broke and Cheated me
    United States

    Bank of America is my mortgage company and they were repeatedly late on my property taxes. The fees are up to almost $250. They delayed payment, they sent a bad check to the accessor and I am left with the bill. I faxed and mailed them repeatedly and they ingore me! This has been going on for well over a year! Also I increased my payments to pay off my home in 20years and they wrote me saying they updated my records but failed to update the maturity date to 20year and left it at 30years. When I wanted to decrease my payments back to the 30years they claimed that my 20year weekly payment was my 30year even though it is $400 over my original escrow agreement. I am frustrated and don't know what to do! Please help!

    0 Votes
  • Ro
      9th of Nov, 2009
    BOFA - fees
    United States

    I think B of A is in cohoots with these loan places that are taking unauthorized withdrawls from consumers accounts. They know this is a scam but they continue to put the fake checks through so they can collect on the NSF fee. Scammers!!!

    0 Votes
  • St
      12th of Nov, 2009

    for $15 I was charged the over draft after my account was closed and debit card was cancelled, they are not able to tell where the debit card was used, as they had it cancelled . yet try to cheat my money threat me to damage my credit score. I have to pay $117 @ $35 /week and $15 for the purchase that I never made.
    Banks cheat you cannot do any thing, they cheat for their lords make them rich when loose money public money save them to let them cheat public for ever.When profit only for few, otherwise curse for all. CITIZENS BANK cheated me we need a credit score for banks so that they cannot blackmail customers

    +1 Votes
  • Vi
      9th of Dec, 2009
    BOFA - not willing to help
    United States

    I have a mortgage with BofA and totally wish I did not. My account is current and up to date. However the worldwide financial crises is now affecting my wife and I preventing us from making the payment due for Dec. Our mortgage is $2000 and we have only made half of the payment. My wife has lost income to due a madatory state furlough. I have reached out to BofA asking for help and assistance and have been denied for modification and home retention assistance. Ive even asked for help of any kind for the months of Dec and Jan and was given NO help. BofA is a waste and I truly wish I could move my mortgage. BofA does not care about customers who are current but suddenly experiance finacial difficulties. BofA is the worst

    0 Votes
  • Bo
      29th of Dec, 2009

    DO NOT EVERY OPEN A CHECKING ACCOUNT WIH BANK OF AMERICA!!! This bank is not custonmer friendly they re arrange transactions so that they can bill you more overdraft fees and it doesnt even matter how much the transaction was for even if its for $3 they will charge you $35 for overdraft this bank is ridiculous. Dont even try calling the customer service for checking accounts is horrible they dont show any empathy and they just simply dont offer help they dont let the customers talk and when I tried figuring out why my account was being billed so many fees they would simply say you are responsible for balancing your own account. They show different info on online banking than what the reps have in thier system so when you call they always say the same thing your responsible for checking your balance and making sure you dont overdraw but the only way to do that is by calling or checking online but when you check online they dont honor the info that is presented there. All of thier business practices are just to take more money from the customers they are estimated to mak about 38billion in overdraft fees this year this is a huge sign they are not doing things right they are doing it to make money they rearrange transactions only when you are about to overdraw how convenient.

    0 Votes
  • Ba
      17th of May, 2011
    BOFA - Flood Insurance
    United States

    BofA bought my loan a year ago from the original lender. The original lender clearly stated on the lending documents, "NO FLOOD INSURANCE REQUIRED" but of course 1 year later w/BofA I am in a flood zone and flood insurance is required! They want me to hire the surveyor, contact fema to make the determination, then send the determination back to them. Well BofA should know damn well that FEMA takes 30-60 days to response back but BofA has told me that I have 45 days to get insured or they will automatically TAKE THE MONEY from the escrow account AND FORCE ME TO GET FLOOD INSURANCE THOUGH THEM! I asked for more time but they refused and said THAT IS THE WAY IT IS FOR ALL CUSTOMERS. Naturally, the engineer I spoke to is having a hard time obtaining the info for surveying that I need but it is amazing that BofA has all this info and can make the determination that I am in a flood area...I know one thing for sure, I will be refinancing just to get away from them! BofA IS A SHADY LENDER!!!

    0 Votes
  • Ba
      7th of Jun, 2011

    BofA tried to get me w/their flood insurance requirement because they tried to say my property was in their" Flood Zone A". It was a LIE. After talking to my insurance company, they requested a Flood Hazard Determination form from FEMA, which showed my property is no where near "Flood Zone A". I GOT A COPY OF THAT FORM FROM MY INSURANCE AGENT, CALLED BOFA, FAXED THE FORM, OPENED A DISPUTE, and BOFA IS NO LONGER REQUIRING ME TO GET FLOOD INSURANCE. GOOD LUCK TO ANYONE FACING THIS PROBLEM CAUSE OF A GREEDY BANK LIKE THIS TRYING TO SCAM MONEY OUT OF HARD WORKING PEOPLE.

    0 Votes
  • Bo
      22nd of Sep, 2011
    BOFA - harrasement at home
    North Carolina
    United States

    My friends are being harrassed at their home by BofA (fic card services) by men appearing to be Police. These men leave letters with false address of the county sheriffs their are supossedly representing, with fake letterhead and they actually have the nerve to act as if they have the knowledge and authority to inform my friends of how bofa can Take the cars that are owned outright and any property they own.
    The "policemen" came 3 times this week (it's thursday today) and harrassed them.
    1) Impersonating a police officer
    2) Falsifying County documents
    3) Threatening individuals
    Is this legal? Where is homeland security when you need them?
    Seriously! How the heck to they get away with this!!! If these men Are Police - Our Tax dollars BETTER NOT BEING PAYING COPS TO HARRASS PEOPLE FOR THE BANKS THE HAVE DESTROYED OUR ECONOMY!!!

    0 Votes
  • An
      14th of Nov, 2012

    Agree. I have tried to get a loan modification under their Global Settlement and no answers yet...I called back in 02/09/12. Now I'm unemployed and have called them again they said they would asign someone to my account. One month went by and nothing so I called again! someone returned my call said they would send my paperwork to the unemployement program and i should receive a call in 7 days. now that he calls he says I do not qualify?? he never even asked for my information/documents..once i started getting upset he said "well send me your docs no later that tomorrow or else you will be denied?" I was like...It takes you more than a month to call but you want me to jump right at you tell me i don't qualify when you havent even reviewed my docs? i called to complain now they say they might change me representative...then they will look to any other option available for me? will see? plus they do want you to be behind for them to help you/////// pretty much they want your house no help will ever come from Bank Of America...

    0 Votes

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