debt management program bank of america
Bank of America has not properly contacted me about my debt. Do I contact them?
I am with a debt management program that consolidated my debt. One of my debts is a credit card with Bank of America. This account has been through two different collectors, NCO Financial, and National Enterprise Systems.
When I attempted to make payment through my program to these collectors they both denied the payment and returned it to me.
I was recently informed by the debt management company that NES had closed the account. I called NES to ask what happened and they told me they had returned the account to the original creditor.
It’s been a few months and I have not received any official notices or documents from BOA notifying me of their possession and terms for my account/debt. The debt has appeared on my online bank statement, but not on my paper mailed statements.
I have read it is illegal for collectors to not properly notify you about your debt and their terms for collection. BOA has not. Do I contact them or wait for them to properly contact me?
I’ve got good news, bad news, and good news again. The good news, I work for bank of america, the bad news, if the collection agencie has told you they have returned the debt to us then that means that we are officailly chargeing that baby off. it will now st on the books for seven years as a bad debt. and no we don’t have to contact you when we do that because it means that we are no longer attempting to collect the debt. The other possibility is semi good news. because you have gone throgh a debt management program the collection agencie may have bailed on the collection because they can’t earn a commision if you go through that kind of plan. the better news. call the card services department at BOA and talk to an account manager. you may still be eligible to use a repayment plan like that to clear the debt instead of being charged off. the phone number to call is 1-800-732-9194. It never hurts to try and it will only help restore your credit faster. once it is paid you will be given status of “debt satsfied” on your credit report, and since we will be reporting that payments are being made you will be able to appy for credit almost imediately after you finish your program if you want. Good luck and hope things work out well for you.
