Latest Posts
Home > Scam Reporter > Bank of America > Bank of America – Consumer Complaint – 9-27-2012

Bank of America – Consumer Complaint – 9-27-2012

Consumer Statement:

I was told by Bank of America that my credit card account had been closed because a debt settlement company named Modern Money Mechanics was negotiating the debt on my behalf. This is completely untrue and my card was being paid automatically out of my Bank of America checking account every 2 weeks. I was also told that my account had been sold to Barclay Bank and I would have to straighten this out with them. Barclay Bank had sent me a new credit card with instructions how to activate. When I tried to activate, it also said the account was closed. However, when I spoke with a rep from Barclay, they told me that they should never have received my account from B of A because my account had been SOLD to Modern Money Mechanics (A new twist to the story). I recorded that conversation with the Barclay rep, and he states that I have no debt with them and should not receive any bills or see anything on my credit report. So right now, there are apparently 3 companies that MAY have info on my account, but they all tell me I have to resolve it with the other companies. As of 9-27-12, B of A tells me that they have NO records of my credit card account, even though it was only transferred from them last week. I have not been contact by Modern Money Mechanics, and can find no information on them. The number that B of A gave me for Modern Money Mechanics turned out to be the number of the Public Affairs off of the Chicago Federal Reserve. So it appears B of A has no idea who this company is either.

Consumer Action Taken:

I have spoken to both B of A and Barclay Bank and have been told by each company that they cannot help me, and if I want to have a credit card account I must re-apply. I have filed a complaint online with the CFPB so far.

Date This Problem Happened: September 20, 2012

State You Live in: Michigan

Race/Ethnicity: White

Age Range: 36-50

Total Amount of Fee Paid:

Company Name: Bank of America

Company Address:

Company Telephone Number:

Website of Company: bankofamerica.com


If you feel you’ve been financially hurt by a debt relief company and deserve a refund, read these step-by-step instructions on how to proceed to attempt to get your money back.

If you do get your money back, come back and leave a comment about it. I’d love to praise companies that step-up and do the right thing for people.

Scam reports are submitted by consumers like you. If you would like to file a scam report, please click here.

If you are the company named in this report and you want to respond, please read How to Handle a Consumer Complaint Like a Pro And Come Out Smelling Like a Rose

Bank of America - Consumer Complaint - 9-27-2012 by

Share This and Spread the Word

About Consumer

Consumer
This is information that was submitted by a third party and not generated by GetOutOfDebt.org or Steve Rhode.
  • http://www.facebook.com/swpopham Steven Popham

    Any update or help on this yet?

    • Dave

      None at all. Each bank says they cannot help me and to contact other. I now have a closed account that was in perfectly good standing and it will affect my credit for several years.

      • ktm1212

        I would go back to BofA and ask to see where your payments were going. You would probably do better by going into a branch office and sitting down with someone. It sounds like either you or BofA was defrauded. Either way, this would appear to be a violation of the Electronic Funds Transfer Act by BofA, and would have to be removed from your credit report. (I’m just recommending based on what I’ve been reading. This isn’t legal advice. Sorry to have to throw in a disclaimer!) Good luck

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.