my in-laws had the same issue with BoA. They paid their mortgate EARLY every month and still were reported as late every month. This is tragic and ruined their credit. When these things happen it takes years for the credit to br repaired even though a collector reported the information falsely, incurracately, and repeatedly. BoA should be penalized HEAVILY for these infractions otherwise they just ignore consumers.
Consumers are typically notified numerous times before the account is sent to a collection agency. It is in the best interests of the credit union to try and resolve the delinquency before it is sent to a collection agency due to the added cost.
Thank you for your comments SJDuPlessis. You may be interested in CFPB’s webpage on can a debt collector garnish my bank account or my wages. It also contains a link to their submit a debt collection complaint page. CFPB is interested in hearing consumer stories, particularly from servicemembers, that will help them improve consumer protections in debt collection. Could you tell us more about your situation? For example, how they garnished your wages without litigating?
Sertas
1
my in-laws had the same issue with BoA. They paid their mortgate EARLY every month and still were reported as late every month. This is tragic and ruined their credit. When these things happen it takes years for the credit to br repaired even though a collector reported the information falsely, incurracately, and repeatedly. BoA should be penalized HEAVILY for these infractions otherwise they just ignore consumers.
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Aaron Racicot
2
Consumers are typically notified numerous times before the account is sent to a collection agency. It is in the best interests of the credit union to try and resolve the delinquency before it is sent to a collection agency due to the added cost.
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U.S. Marine
3
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Moderator
4
Thank you for your comments SJDuPlessis. You may be interested in CFPB’s webpage on can a debt collector garnish my bank account or my wages. It also contains a link to their submit a debt collection complaint page. CFPB is interested in hearing consumer stories, particularly from servicemembers, that will help them improve consumer protections in debt collection. Could you tell us more about your situation? For example, how they garnished your wages without litigating?
View this comment in the discussion thread