Wednesday, November 9, 2011

BofA 'Coding Error' Leads To Flap Over $1 That Wrecked Former Borrower's Credit; Media Spotlight Needed To Spur Corrective Action

In Vernal, Utah, KUTV-TV Channel 2 reports:

  • In August, 2010, Shantell Curtis sold her Vernal, Utah house. But months later, when Shantell sat down to do her taxes, her accountant noticed a problem. She still owns that Vernal house. And worse, Shantell's credit score says she is now months behind on the payments.

  • Shantell says she called her former bank, Bank of America and they quickly noticed the error; a really small error. "They said, oh it's over one dollar," Shantell says. But for as quickly as Bank of America noticed they error, they have spent months not fixing it. For five months Shantell says the bank has promised to close the account and send her a letter. But it's never happened.

  • "They said that they had to keep reprocessing it and this has been game we've been playing ever since," Shantell says. "They just say they need to reprocess papers."

  • So, after months of fighting this battle with no results, Shantell called Get Gephardt. 2 News contacted Bank of America on Shantell's behalf and that got things moving. In an email the Senior Vice President of Media Relations writes it was "a coding error led to this issue." And she says that coding error has now been fixed.

  • Bank of America says they will also remove the negative report from Shantell's credit. But that could take up to 90 days. Shantell says she still has never received any communication from Bank of America.

Source: Get Gephardt: Home Foreclosure Over Missing $1.

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