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RickyRosse700

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Monthly balances reported after account Closed by Granter
Hello Karma Users!

A few years ago I had a secured CC account with Bank Of America. After falling into some rough times, I became 60 days past due and BOA closed my account. I subsequently contacted FIA card services (BOA's in house collection agency) and was told that i could continue to make my minimum monthly payments even though the account was closed by the creditor. I made my minimum monthly payments as normal (with the exception of one month) but made the payments during different times of the month. Due to the fact that I paid a different times of the month, BOA reported two 30 day late payments and one 60 day late payment after the account was closed by them.

BOA continued to report my monthly payments and balances for a year (until the account was paid off) after they closed my account. I disputed this online with the boroughs to no avail. My issue is that BOA turned the account over to FIA card services (whom is owned by BOA) and although the account was never reported as a charge off or new collection, the payments should have stopped being reported when the account was closed by BOA.

The report shows that the account was closed a year before the last payment posted.

Is BOA allowed to do this under FCRA? Am I just stretching what I though were my rights, a little too far and interpreting the FCRA incorrectly? Any advice would help as I cannot find any forums with the scenario.

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Top Contributor
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When an account is closed by the grantor, it means you can no longer add any more charges, but you are still obligated to pay the balance due.  The account will still be part of your credit history and will show for 7 years past the 'date of last activity' (which is often last payment).  The only way to have an account vanish would have been to negotiate a 'pay for delete' arrangement with BOA and that would have had to be in writing.  BOA was within their rights to report the payments as made until the account was paid. They did not violate FCRA.

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