If you find an account listing with FIA CSNA on your credit report, it means you may owe a certain amount of credit card debt to FIA Card Services, which is a subsidiary unit of Bank of America. Alternatively, you may not owe money directly to FIA Card Services, but to a company for whom the former processes credit cards. Go through the following topics to know what FIA CSNA is all about
What is FIA CSNA all about?
FIA CSNA or FIA Card Services was initially founded as MBNA, a subsidiary of Maryland National Bank. But later on MBNA merged with Bank of America and changed its name to FIA Card Services, National Association.
What if FIA CSNA is listed on my credit report?
When you find an FIA CSNA listing on your credit report and you're not sure whether you owe the debt, request FIA Card Services to validate your debt. For this, you need to send them a debt validation letter through certified mail with return receipt requested. If you need help writing the letter, just check out a sample debt validation letter. The letter should be sent to the following address:
FIA Card Services
1100 N. King Street
Wilmington, DE 19884
If FIA CSNA validates your debt and it turns out that you owe them a certain amount of money, then you should negotiate a repayment plan with the company. However, if you don't think you can pay off the debt in full, work out a debt settlement agreement with your creditor. Use sample debt settlement letters to communicate with FIA Card Services, so that they allow you to settle your debt.
Whether you pay in full or settle the debt, try to negotiate a Pay for delete agreement with FIA CSNA. This is to make sure that they request the credit bureaus to take the listing off your credit report, as soon as you pay off the dues.
What if FIA CSNA doesn't validate my debt?
If FIA CSNA (FIA Card Services) does not provide you with sufficient proof that you owe the debt or they do not validate your debt at all, then you can dispute the account with the credit bureaus. Just send a debt validation follow-up letter to the credit bureaus, requesting them to delete the listing from your credit report. As per FCRA (Fair Credit Reporting Act), credit bureaus should remove the account within 30 days. Otherwise, you have the right to sue them in small claims court.