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I received a call from Bank of America to update my and my husbands income status. I have never been late on any of my credit cards and always pay more than minimum. The person I talked to talked down to me, asked a lot of questions and reduced my husband's and my credit limits a lot. Then the person said that perhaps I should use a credit settlement company. When I said I have a plan to settle my debit in two years, he sort of laughed. This person did not want to hear that. I think he was getting points for getting someone to use the FIA CSNA debt settlement company. I am about to appeal the drastic lowering of our credit limits, and oh yes, pull out our business checking and savings accounts from Bank of America. We have another bank that we can put them in that treats us right. Then see how they like it.

we are getting the same thing. listen to jim willie on youtube.... bank of america is insolvent and there is more than a little civil disobedience going around -- as in people refusing to pay their debts... they are probably trying to cut their exposure.

Sub: #1 posted on Sat, 01/29/2011 - 07:20


Greetings "Unregistered ",

If the csr is talking down to you, just hang up.

Don't take any abuse or condescending talk.

I hung up on a couple during my settlement journey.

King "Kash" Jabba Labba

Sub: #2 posted on Sat, 01/29/2011 - 08:25

King Jabba Labba King Jabba Labba
Industry Expert
(Posts: 507 | Credits: 85.97)

I can only underscore what Kash says. They lowered credit limits on me by $100k just before I defaulted on my first account. But guess what? They were correct and saved a lot of money by doing so. It is their right...they are a profit business. But don't take any crap from them. We all have dignity and deserve the same. dtm

Sub: #3 posted on Sat, 01/29/2011 - 09:22

dantheman dantheman
Moderators Cum Industry Expert
(Posts: 860 | Credits: 216.14)

I find this ODD though...the OP is not and has not been late....so the CSR tells her to look into settlement...I can see lowering the limit but outright telling her to look into settlement for an account that is not nor has been late and is being paid on by more than the minimum. What am I missing here?

Sub: #4 posted on Tue, 02/08/2011 - 21:24


Beware of BOA. I am a personal and commercial customer of BOA for over 30 years now! 30 years! If I found a complaint from a customer of mine as bad as I have had experience with BOA, I would drop to the ground fetal position and whimper. With the way they have managed themselves as it applies to their customers, they should be so ashamed - like a rock dropping into the pit of your stomach when they see the posts all over the net.

In particular, I have a line of commercial credit that, over the past several years, they have tried to reduce and close. When they do this, your credit takes a hit - not just for their hard inquiry, but for the reduction or closure of an active account.

I went into my BOA and yelled about the first time they tried to change my account. It was so bad I closed a couple accounts and the bank manager, with sympathtic tears in her eyes, slipped me a number to the Chairman's Office of the CEO. Every few months this "automatically" happens, I just call this number and explain the following along with my threat:

1. I have never been late on any BOA accounts that I have EVER had. (I have had a lot)

2. I have never changed the terms or conditions of our financial relationship, ever, even though they have many, many times. ("Well we can if we want to as stated in fine print on ALL accounts" they affirm) I replied that if I ever in a million years thought they would financial behave as they have, I certainly would never brushed shoulders with them.

3. BOA explains to me that the economy is what is forcing them to behave like that. I said, "No ma'am, you BIG banks bear a very heavy share of the responsibility" BOA is large enough to almost create and sway an economy.

4. I have actually known people (more than two) that they have moved, without permission, their customer's entire checking AND savings account to conveinently pay toward a credit line. (Yes, the person was unemployed and unable to pay more than minimum). Yep, it happened. Imagine how that messed up his bills etc.....

My retort:

1. I issued BOA Chairman of CEO's Office a ultimatum. If they actively harm me, my family, my employees without real justifiable and legal cause (default etc.) , I will pull all my accounts and stop any payments to the newly changed BOA terms and conditions accounts and that this will be the beginning of my change from "excellent" credit by three credit ratings companies to my new "poor" rating. That the way they are behaving is not worth contorting over - especially if the economy ends up where experts consensus points.

2. Be firm. They will say the they have lost money and need to reduce exposure. Nonsense. Why? Well they did have a bad quarter beginning 2011. But wait... they are having trouble in almost ever section of business - EXCEPT CREDIT CARD AND COMMERCIAL LINES OF CREDIT. Note:
Bank of America in the first quarter also recorded some bright spots on its balance sheet. The bank’s credit card business saw income rise by 77 percent to $1.7 billion. Commercial banking reported a profit of $923 million, compared with $703 million in the same period of 2010. The investment banking operation reported strong results, as well, on the back of improved sales and trading revenue.
Although Bank of America’s loan portfolio showed some improvement in recent months, the bank lost $2.4 billion in its consumer real estate group, compared with a $2 billion loss the previous year. The poor results in home lending were partially offset by a $2.2 billion release of reserves and strong earnings from the bank’s credit card business....By BEN PROTESS
http://dealbook.nytimes.com/2011/04/15/bank-of-america-pro fit-drops-nearly-36/

So, be careful. As posted above,I feel BOA is brinking insolvency.

3. If they go on with any numbers of ways to stress its customers, try this:
Get in touch www.nationwidefinancialcenter.c om. I have not used them yet, but in the near future the way BOA is going, I likely will. They, through a government assistance, will force BOA and many, many other banks to give you very low APR. Now, you will lose the use of that account, but IT WILL NOT HIT YOUR CREDIT like defaulting, settling and other.

Good luck to all. I am in this too - I just study it compulsively. What's that? You want the number to the Chairman of the CEO's Office? Remember, you are in control and this is your life!

704-386-5687 or 866-965-1506 ext#75838, Mrs. Tabor (at least for commercial concerns)

Sub: #5 posted on Fri, 05/13/2011 - 00:21


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