InsideTexas Posted March 16, 2007 Report Share Posted March 16, 2007 Spoke with Head of Card Relations at BoA. Told him that it wasn't me that took out the CC (family member), but I wasn't willing to press charges. Unless I report fraud with BoA, they said they have to report accurate info to the CB's and will not delete, even if PIF.Told me I had to deal with the CA, Mann Bracken. I could settle with them. Told me a paid CO is worse than a paid settlement.What should I do now? Call the CA and attempt to settle, or ?Neither are reporting on my CR, just the CO's from the two CC's that were taken out by my family member. Please guide me in the right direction. I'm a bit at a loss as to where to go from here after hearing the horror stories about the CA's. Link to comment Share on other sites More sharing options...
InsideTexas Posted March 16, 2007 Author Report Share Posted March 16, 2007 Wanted to add, he said in the future if I was dealing with BoA, the fact that there are notes on my 'account' would give me leniencywhen applying for credit and loans in the future through them. He then said he couldn't speak for other companies, but that BoA would see my situation and help me out more than anyone else.***edited to addI did do a search, but nothing has come up really pertaining to my situation. Lots of people want to pay the OC, but what happens when the OC says they won't delete because of the FCRA? This was a higher up in the company who has said he's seen the same thing happen before since he used to work in the fraud dept. What do you do then? Pay for delete with the CA and get it in writing? What happens when neither CA is reporting on your CR? Then what? Link to comment Share on other sites More sharing options...
Big Time Posted March 17, 2007 Report Share Posted March 17, 2007 More info...Did your family member take out a CC in your name with or without your permission?Did you co-sign, or are you just willing to bail your family member out to keep them out of jail? Link to comment Share on other sites More sharing options...
InsideTexas Posted March 17, 2007 Author Report Share Posted March 17, 2007 One, yes (this one.) One, no but just assumed they would pay these two back on time. Don't lend money to family you can't afford to lose/not have them pay back. Hard lesson to learn. Link to comment Share on other sites More sharing options...
willingtocope Posted March 17, 2007 Report Share Posted March 17, 2007 unless the account has actually been sold to MannBracken, and MB is reporting on your CRs, you have no reason to pay them anything. If this is the case, then its the BofA tradelines you need to deal with. Unless they've been sold, the fact they're listed as "charge off" is meaningless. Its only an accounting term. You can pay them.If you do pay BofA, and they report a "paid charge off" it will hurt your FICO scores. But, they will hurt less and less as time goes on. Link to comment Share on other sites More sharing options...
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