Thread: Bank of America as bad as Countrywide

I have to agree with you. After BofA take over CountryWide, they have screw up my account few times. Sadly, all the countrywide local office are closed, so I can't talk to them directly.

I recently invest $ on my IRA with BofA. They keep rejecting my investment with stupid reasons like "Your credit card company decline your payment!"

I talk to my credit card company and told them I have huge spending coming and resubmit the IRA account again. BofA screw up again by creating dupe accounts. Now I have to get refund one of them and talk to IRS why I over invest for the year 2008.

I don't think its B of A or Countrywide insomuch as its Corporate BS. A big company has policies and directions, signature authorities and corporate targets. Things fall through the cracks all the time and trying to rationalize with them has no effect.

You are best learning the rules these companies have and play by them.

Originally Posted by RealOG

I don't think its B of A or Countrywide insomuch as its Corporate BS. A big company has policies and directions, signature authorities and corporate targets. Things fall through the cracks all the time and trying to rationalize with them has no effect.

You are best learning the rules these companies have and play by them.

Amen brother.... Big corporations are all the same.... All these workers bees there have no interest in the company being successful, because if it is -- they don't make another dime. It's like the movie Office Space down at BofA and Countrywide.... Milton can't find his stapler, and Peter just doesn't give a shit anymore! haha Maybe one day someone will burn the whole place to the ground?

- Hakrjak

I don't care to do my personal business with BoA anymore. Not after they pulled the shinnanigans of raising my CC's interest rate to almost double what it was before EVEN THOUGH I WAS NEVER LATE ON A PAYMENT EVER. Calls to their customer service dept were no help. I've had the card since about 2000 when it was through MBNA, and the literature I got at the time said something like "5.99% FOR THE LIFE OF THE CARD!" More of the BS pranks these CC companies pull, but then stupid me for not reading the 3pt font print. I had 5.99% up until a month ago when out of the blue they raised it to 10.99%. This after they've gotten $45 BILLION in bailout funds.

Reminds me of my situation with BofA.

My firm has a $43M construction loan with BofA right now. A couple of years ago when the project started, they asked us what bank account we wanted the loan draw funds distributed in. We said, "Our account with you." They didn't know the account number and for the past 2 years, we've had to write it on every loan draw request we've submitted. I mean, can't they just transfer the money directly to our account WITH THEM?

We also receive SWAP and interest rate statements from their office in Chicago (I am in SF). I am then required to fax those to their SF office so our loan officer in SF can see them. Again, isn't this something they can do INTERNALLY?

They call us every 2 months to ask US what the balance on the loan is. Again, shouldn't they know this?

I used to get frustrated, but this is just how their corporation works. It's so big that apparently it's easier to communicator using the borrower (us) as a conduit as opposed to using internal dialogue. Unreal.

I'm in or at least I think I am in the Countrywide loan mod process right now. I'll let you know how it goes. So far it seems straight forward and I'm suppose to receive an answer next week. I'll make a post about it once I have some results to report. Sometimes it does amaze me how these big companies work.