Filing Complaint to BBB

[improving]

I need an opinion. Can or should I file a complaint against a bank reporting 30 days late. I've tried explaining to them several times and they keep saying they have their reporting FTC laws they need to follow. I think we were like a day late or not even (years ago) and we had called to let them know too since we were out of state for our children's doctor apt. It remains reported and I just don't see WHY they can't make an exception? We did communicate and they claim to be such an understanding, etc. etc. full or crap commercials bank - yet, they won't remove for something that has had and costs us greatly the past years in other loans for no good reason. We were always on time and paid off a fairly big loan quickly as well.

Should I bother?

If you think I should how to I proceed with a complaint. I think I may have went on an on with another one I just completed - but I had to state all the facts. Is this the same? Should I be more formal though?

Just curious - I'm looking for some resolutions on several accounts and I'm not getting anywhere with MANY companies, collection agencies, credit bureaus, etc. so I intend to just BBB it and try and get some resolution or response back!

Has anyone had luck doing things this way? (if all else fails.)

[Trish]

I'm not sure a BBB complaint would be the right avenue to take in this case.
Do you by any chance have proof of the date that you paid?
Have you already tried a gw letter? or talking to someone higher up?

That just seems awful stingy after only being late by ONE day.

[Scorepro]

I agree, I don't think a BBB complaint is the correct tactic. First and foremost, the biggest thing you have working against you is that there info is correct-you did pay late, albeit only by one day. I too find it nuts that they aren't willing to work with you, considerng it was an isolated incident. Like Trish said, a goodwill letter or talking to a higher up might prove to be effective.

Second, there is no law stating they HAVE to report anything--that is BS!! Question--when you say u paid one day late, do u mean I paid on the 31st day? Or, if do you mean u paid one day past the due date (like the 2nd of the month) and they are reporting it as a 30 day late? Also, exactly how long ago was this? The good news is that if this is pretty old, it is most likely not affecting your score as much as u think. The older an entry becomes, the less effect it has on your score.

That said, if you still want to have it removed, your best bet may be to talk to a higher up. Perhaps mention how their unwillingness to overlook this will certainly affect the chances they will get any future business from you. I would clearly focus on the positive things about your account like the fact this was one incident, you paid the loan off quickly, etc. Do u have accounts @ this bank? If so, leverage that in ur negotiations as well.

[jjgross]

Originally Posted by Scorepro

I agree, I don't think a BBB complaint is the correct tactic. First and foremost, the biggest thing you have working against you is that there info is correct-you did pay late, albeit only by one day. I too find it nuts that they aren't willing to work with you, considerng it was an isolated incident. Like Trish said, a goodwill letter or talking to a higher up might prove to be effective.

Second, there is no law stating they HAVE to report anything--that is BS!! Question--when you say u paid one day late, do u mean I paid on the 31st day? Or, if do you mean u paid one day past the due date (like the 2nd of the month) and they are reporting it as a 30 day late? Also, exactly how long ago was this? The good news is that if this is pretty old, it is most likely not affecting your score as much as u think. The older an entry becomes, the less effect it has on your score.

That said, if you still want to have it removed, your best bet may be to talk to a higher up. Perhaps mention how their unwillingness to overlook this will certainly affect the chances they will get any future business from you. I would clearly focus on the positive things about your account like the fact this was one incident, you paid the loan off quickly, etc. Do u have accounts @ this bank? If so, leverage that in ur negotiations as well.

There is no law they have to report you,if they signed a contract with the cra's chances are they will,but a question i pose to you is this.Why do some companies never report good customers by stating its payed as agree,but the minute you miss they report you.So what law says they have to report you?Point it out.Now banking laws may be different than that because the feds get involved with auditing and such.So i may be wrong when it comes to ftc and banking law.but on cc i know of no law

[Scorepro]

Actually there are a lot of creditors that will report "paid as agreed". I have dealt with a lot of creditors that are suprisingly cooperative, especially in the context of a negotiation when they are going to get something as well. Like anything, there are good creditors and ones that won't budge--especially when they don't have to and they know that.

Regarding the law, perhaps I typed something jncorrectly, but actually I meant, like you reiterated, that there is no law saying they must report. So, to answer your question, I have no example of a law to point out.

[improving]

Thank you everyone - sorry for my delay - haven't been on here for a little bit.

Anyway, Yes, I have sent a few GW letters and I have spoke with them on the phone - same result. Spoke with Senior VP.

And their letter was responded like this....

We received your letter explaining the reason for the 30 day late payment that was reported to CRA's.

As part of our procedures, we have conducted an investigation into the late payment and have determined that the payment was indeed late. As you stated in your letter, you are not denying that the payment was late.

The bank is required by the FCRA (Fair Credit Reporting Act) to report accurate data for all our customers to the credit reporting agencies. We are not able to change the data due to extenuating circumstances and being out of town.

Sincerely,

xxxxxx

______________

It has been a few years, so you're right, the effect on actual score probably isn't that bad - but it still shows up organized with the negative stuff. ugh. and then we paid over $20k off shortly after.

No appreciation whatsoever.

No, we no longer bank there and no longer will obviously.

______________

Yeah, it's a shame considering we communicated with them and I called and barely had cell service at the time. I think it was paid on the 31st day - don't actually have records, well, I'm sure I do somewhere - but I'm sure they know I called when I said I did, etc. and had to make some note on account - so why the fuss? Because the FCRA will what??? Look at their records and notice it a day late (with communication from consumer) and bust them? c'mon!!

Most banks are like dealing with organized crime. They just want money and rob you of it and any creditability. pleeeeeaz!

Again, thank you all for taking time to respond. Shall I shrug it off or proceed with another plan???

[Trish]

Ugh... I had the same problem...
I ran behind when things got tough and a late popped up on my CRs about a year ago. I tried gw letters and no luck so I just disputed the crap out of it. Every time I had the chance......I disputed as never late. About a month ago, it finally got deleted.....so someone must have been sleeping on the job and I got lucky.

Just keep disputing it..... hopefully it will get deleted... but at least you do know that the more it ages, the less it affects your score.