Banker Reviews

When you are trying to prevent some bad thing to happen, you search though different sites with complaints, terrible stories about rip-offs and run-arounds. And that is quite right because that means that you are trying to feel safe and it is much better safe than sorry. And when you run over the finance section, you may get a kind of puzzled because of the name BOA, BOA complaints and the posts connected with it. But everything is very simple: this acronym stands for the names of two establishments at the same time – Bank of Africa and Bank of America. Let us make a short summary on the both of them.

Bank of Africa. In the Internet this financial institution is known due to the huge number of Bank of Africa complaints, precisely Bank of Africa spam complaints. There is a famous letter that you receive and actually should delete as a scam, but sometimes you just do not do it and can be tempted to believe all the stuff that is written down there. And it is about quite a worthy sum of money being abandoned. And this generous African bank or actually some of its employees decided that you have to inherit that money just because after some vague research they have decided to choose you. And all you actually have to do is to send them some personal data including you social security number, number of your accounts and credit card number. It seems to be nothing, but if you fall for this crap you will lose much more. So, stay away!

Bank of America. Though this establishment does not seem to be so exotic and is truly American, it becomes very often a reason of many disappointments, too. And that is why you can run across so many Bank of America complaints. For example, they can just freeze an unsuspecting and innocent person’s account and leave him or her without anything for living. Especially, when this person - their client - is not American but other country citizen. It sounds like some kind of discrimination that is why and because of many other reasons, it is better to avoid dealing with Bank of America.

When some bad things happen to you because of some shady company, it would be very important and nice of you to share your experience with other people. It is very humanely to spread the word nowadays when all these scam, fraud and harassment things occur again and again. This matter especially concerns financial sphere. Honest people work really hard for money. And this is very unjust when these common people are cheated and ripped off trying to pay off the loan or mortgage. And usually they understand that they cannot defend themselves, because they knew that the type of financing they have chosen is not a prime one. Thus, they have to be ready to everything. Like in case with Americredit.

Their business practice. Companies like Americredit are not that pick and choose when it comes to collecting their money. They start with calling your home every day and night unlimited number of times. They can even call to harass you on the 4th of July. Americredit can also call your neighbours and say that you owe them money, or that you are very late on payments. And this could be because of them delaying your payments. And you get the first mark on credit record the very first time they state you have missed your due date. From that time Americredit keep on ruining your credit history which from the very beginning was not that good otherwise you would not involve yourself with this company. Besides, their interest rates are really exorbitant. And Americaredit can change your due date without any notifying and explanation which may cause your first late payment.

Their client service. If you would try to call Americredit customer service, you would be discouraged from the very first call. Their customer service representatives are very incompetent and unable to answer any of your questions. You would be able to get some information or maybe even explanation only if you reach a supervisor.

While coming to a debt institution and asking for a loan or mortgage loan, you are supposed to show really good credit record and ability to pay off your debt and the interests on that debt. On the other hand, the lending institution makes up a contractual agreement, according to which it also supposed to execute the contract. Usually a loan and especially mortgage loan are to be paid back over rather long period of time. But sometimes terms and conditions of the agreement are not carried out by the lender that is why there are so many complaints against them.

Loans.
Loan is an amount of money which borrower receives from the lender. And then the borrower is supposed to pay the debt back, usually in regular installments. And for this service the debtor is to pay interest on the debt, which can make the repayable amount twice as big as the given amount. This depends on the terms of the lending agreement. But sometimes the debtor experiences some troubles in life and can be one month behind the payment which is not a violation if the sum is paid off later with higher interests. But during this very month the lending establishment can figure out that you actually are a person with a bad credit, always behind your payments and sell your debt to the debt collection agency. And than life of that person goes topsy-turvy: constant phone calls with threats, harassment, etc. This is usual practice of the collectors.

Mortgages.
Mortgage is actually a loan secured on real estate; this is the way people buy property without the need to pay all the cost instantaneously. In the USA it is very common when a house purchase is funded by a mortgage. Earlier only banks or other debt institution were giving mortgages, but now this market is so huge that the necessity for the third party – mortgage brokers – appeared. And with the case of mortgages there are the same issues coming around as in the case with regular loans. But here the threat to lose your home is much more horrible.

All these problems with credit cards, credit card fraud and scam have become such a usual thing, that it is really amazing that still nothing is done. And these people, if one can name them so, keep on cheating hard working American citizens who care about their credit record. And one of these companies is Emerge Mastercard.

How it can happen to you.
At most times it happens out of the blue. You have good credit record, you have never been late with you payments, you have never been over the credit limit. And then one bright day you receive a letter from you your credit card company such as Providian or GetSmart, stating that your account has been sold to Emerge Mastercard. And you may not even ask those managers why your account has been sold: they will give no answer. Or they might just say that you have must have been deemed a very bad risk.

What troubles you may encounter.
Problems come right after your account has been sold. You receive a bill statement, saying that Emerge Mastercard has doubled your previous interest rate with no explanation on it. And then they delay your payments as much as possible making you pay late fees. Yes, they make you pay for their error! And when you are trying to get an answer calling their customer service and you found out that it is impossible to talk to anyone there. All you get is run around and rudeness. Or you may finally catch an English-speaking person on the phone and inform him or her of the problems you are having with your statement and that person would answer you that a statement is courtesy and that they do not have to send you anything. The only way out could be to hire a credit attorney and close all Emerge accounts.