I need help with a Credit Card! Someone!!

Hey, I purchased a 42inch plasma TV back in February for $1299. So i purchase it at circuit city and they give me 2 years with no interest! I was very excited, i can pay about 50 bux a month and pay if off in 2 years.

Anyway, Bank of America (i hate them so very much) has returned 3 checks that i payed online for no specific reason. I pay my bill online and assume everything went ok. But Bank of America did not pay Circuit City and returned the checks to me. I always have plenty of money in my account so its not for insufficient funds. So now Circuit City called me and told me that because of that, my balance is now at $1590 and my 2 year no interest promotion (which is at 30 freaking percent btw) is now void.

So now i owe much more on my TV then what i payed for.. i have to pay 30% interest on it, and my credit is screwed up.... anyone have ANY ideas what i can possibly do to straighten this out?!?!

First off I don't pay any bills online. On the back of my credit card statements it tells you how to file a dispute. Maybe if you go to Circuit city and ask them for a hard copy bill so you can file a dispute. If it's Bank of America's fault Circuit City shouldn't penalize you. Then I would go to Bank of America and talk to the head cheese. You don't have much time to do this. If it's their fault they have to fix it for you. Hope this helps.

Also I forgot to add. Contact all three Credit Bureaus Experian, Transunion and Equifax in writing and showing proof of your transactions. They have to correct it for you. It's going to be a big hassle! Good-Luck.

MountainStar is right, this is going to be a hassle. On the positive side, you might still be able to salvage the situation.

Call Circuit City and talk to the highest level person you can in the credit department - the more junior people can't help you and repeating your story to four different CSR's before getting through to a manager will only frustrate you, so it's best to call and ask to speak to the manager right off the bat. Explain what happened (try to stay relatively calm, you want this person to want to help you), and then ask them if providing a letter from the Bank of America explaining how they are 100% at fault for this will change your situation any. Some companies will waive the interest if the consumer can provide such a letter.

Bank of America shouldn't have any problem issuing one if they screw up on something like this. You'll also want to have the bank prepare letters to all of the credit bureaus to have attached to your record, so future creditors know you weren't at fault.



[edit on 23-9-2007 by Duzey]

First off you need to get a pad and a pen ready.

Right a detailed letter of exactly what happened, don't add any fluff, only the truth.

Start to get everyone's name and a time that you spoke with them.

Then always follow up with letters to the highest person in charge and cc the CFO and CEO of Circuit City.

Please let them know in your letter that you had no intention of not paying them and this was a bank error, show them the letters and the info from the bank to prove your case.

Now if they persist on being difficult and threaten to pull your toenails out, let them know that you are well versed on the The Fair Debt Collection Act, this many people have no idea what their rights are, but they use credit anyhow.

I always tell people that get in a pinch with credit cards to read this throughly. The Fair Debt Collection Act

Good luck to you, just be persistent and diligent.

[edit on 24-9-2007 by Realtruth]

One thing I can agree on is to talk to the honcho's and bug them until they get so tired of hearing from you that they give in. This usually only takes about two calls interrupting their affair with the secretary.

Another thing is they are pro's at squashing the little guy with their patented list of threats. As long as you don't let them intimidate you, you have won a battle right there.

Kinda like a well known cable company charging me $3.00 a month rental for a modem I owned. Unfortunately my X paid that bill and never even looked at it so when I took over they had already charged the rental for 3 years. When I called them they tried to convince me that they don't keep any records beyond 6 months. Maybe they thought I had stupid stamped on my forehead or something. Yes, even big companies will lie when it involves money.

When they say "we may be recording this for....", I tell them the same thing back. They hate that!