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Psycho

BOA off my back. Thanks....

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One of the debts I inherited in my divorce was 36,000 dollars worth of CC debt with BOA. For the first year I made minimum payments, amounting to approximately 850 dollars a month between two cards. Virtually none of this, however, went to principal, it was all absorbed in interest, late fees, ect. My balance was remaining essentially constant.

Back in January, I contacted BOA and asked them to work with me on lowering the interest, or some kind of payment plan to get these things paid off. Their attitude was sorry, no can do, nothing, nada, zilch. In addition, because of the phone call and the information I gave them, they actually RAISED my interest rates.

I was pissed off. I quit paying. I found this site. Fast.

I've always paid my bills, had a 740 credit score at the time. I was in uncharted waters.

When I quit paying the cc bills, I started putting the money I would've been paying to BOA in my gun safe instead and kept my bank account virtually empty. The first call I got from them, I simply informed them I would begin sending them money again at such point as things were arranged that 90 cents of every dollar I sent them went towards principal. Of course they laughed. I laughed too.

Long story short, I read this forum, I answered all their phone calls, I didn't back down, and yesterday I settled the entirety of the debt, fees, additional interest, ect, for roughly 7500 dollars. Roughly a thousand dollars more than I would've sent them anyway, had I kept making the payments. The difference? If I'd kept making the payments, I'd still be out that money, and I'd still owe them 36 grand.

So, a big thank you to the forum members that have posted their experiences and stories here. Without this resource, as well as other online forums, I would still be stuck under that unmanageable load.

An interesting side note. Roughly 17 years ago, as a very young man with no education just trying to get started, BOA screwed me out of 240 dollars. It was clearly their mess up, but no matter what I did, I couldn't get it taken care of. I was young, and ignorant. This came at a time when I was working 12 hour night shifts on a concrete floor in a 100 degree carpet mill, extruding yarn. I was so broke, that I would spend my time between breaks agonizing over weather or not I could afford to put 35 cents in the snack machine come break time. The point I am making, is 240 dollars was a fortune to me at the time.

The difference between then and now? The internet, and the fact that they are now dealing with grown man and independent businessman, rather than a teenage boy.

I figure I just got my 240 bucks back. With interest.

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One of the debts I inherited in my divorce was 36,000 dollars worth of CC debt with BOA. For the first year I made minimum payments, amounting to approximately 850 dollars a month between two cards. Virtually none of this, however, went to principal, it was all absorbed in interest, late fees, ect. My balance was remaining essentially constant.

Back in January, I contacted BOA and asked them to work with me on lowering the interest, or some kind of payment plan to get these things paid off. Their attitude was sorry, no can do, nothing, nada, zilch. In addition, because of the phone call and the information I gave them, they actually RAISED my interest rates.

I was pissed off. I quit paying. I found this site. Fast.

I've always paid my bills, had a 740 credit score at the time. I was in uncharted waters.

When I quit paying the cc bills, I started putting the money I would've been paying to BOA in my gun safe instead and kept my bank account virtually empty. The first call I got from them, I simply informed them I would begin sending them money again at such point as things were arranged that 90 cents of every dollar I sent them went towards principal. Of course they laughed. I laughed too.

Long story short, I read this forum, I answered all their phone calls, I didn't back down, and yesterday I settled the entirety of the debt, fees, additional interest, ect, for roughly 7500 dollars. Roughly a thousand dollars more than I would've sent them anyway, had I kept making the payments. The difference? If I'd kept making the payments, I'd still be out that money, and I'd still owe them 36 grand.

So, a big thank you to the forum members that have posted their experiences and stories here. Without this resource, as well as other online forums, I would still be stuck under that unmanageable load.

An interesting side note. Roughly 17 years ago, as a very young man with no education just trying to get started, BOA screwed me out of 240 dollars. It was clearly their mess up, but no matter what I did, I couldn't get it taken care of. I was young, and ignorant. This came at a time when I was working 12 hour night shifts on a concrete floor in a 100 degree carpet mill, extruding yarn. I was so broke, that I would spend my time between breaks agonizing over weather or not I could afford to put 35 cents in the snack machine come break time. The point I am making, is 240 dollars was a fortune to me at the time.

The difference between then and now? The internet, and the fact that they are now dealing with grown man and independent businessman, rather than a teenage boy.

I figure I just got my 240 bucks back. With interest.

Good job! Your story proves that, if one has funds to offer an OC, patience and standing firm can result in a positive outcome. Thanks for sharing your story.

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Wow! well done!

I really want to thank this forum from the bottom of my heart.

I also followed the advices, did eactly what other members said and in less than 8 months I settled a 49K debt for 9K, all CCs with BofA - I am so happy and now can start over. NO MORE CREDIT CARDS TOUGH. SO NICE TO LIVE ON CASH ONLY AND SLEEP AT NIGHT!!!

Thankyou all!!!!!

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