|Received:||4/18/2006 11:34:49 AM|
|Subject:||Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies|
|Title:||Advance Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Parts 660 and 661|
Comments:Bank of America refused to correct an error on my credit reports even after numerous attempts to correct it. Bank of America sued me over an unpaid credit card balance and we set up a payment plan through the lawyers that they hired, Zakheim and Associates. But, even after this debt was completely settled and paid off, they kept reporting that I still had an outstanding, delinquent balance of about $380. They kept telling me that it would show as being correct in 30-60 days but this went on for almost 2 years with no correction. I had to have Bank of America's legal department send me a letter that I could show mortgage companies that the account was resolved and there was no outstanding balance. This had to be done the past two times that I bought a house. This negative information could have been keeping my credit score down even though the account was resolved. After two years of me contacting Bank of America they finally processed this correction to the credit bureaus, but there is no telling how much that one error cost me in interest payments over those two years that I purchased multiple cars and two houses.