- This topic has 33 replies, 9 voices, and was last updated 10 years, 11 months ago by
scaredyclassic.
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October 13, 2013 at 8:40 AM #766819October 13, 2013 at 8:41 AM #766820
scaredyclassic
Participant[quote=joec][quote=mike92104]You’re mad because you didn’t keep any copies, and expected BofA to do it for you. Then, when you waited until the last minute to file your taxes, you’re pissed because BofA (who no longer services your loan) doesn’t have your info in a handy online version.
Your fault, your problem. Move on.[/quote]
I kinda agree with mike92104…I will be sending in my taxes again at the last possible day again and always have to track down vendors for old invoices, credits, charges, etc…
Expecting a bank who really doesn’t give a craps ass about anyone to take care of your case is expecting a bit much IMO.
I don’t expect my vendors to come through all the time, but I blame myself and lack of time/laziness, not getting it done on time, etc…
Sorta like people not doing their own backups, if your machine crashes and you lose data, don’t expect IT to recreate all your work. Sorry, but most IT folks would probably just laugh (I was in IT and I laughed).
Sorry, but the whole I’m going to sue you because I waited for the last minute is what’s wrong with society…
I’d just use their number and after you get the info, you can amend your tax return if needed.[/quote]
im not suing becaue it waited to the last minute. i reasonabley relied on our contract, that said they’d provide my statements by email.
they sneakily and without notice pulled th erug out from under me.
they stole my statements, basically.
there was nothing int he agreement about them deleting my online account.
why do they get to break the contract with no penalty?
any slight deviation froma credit card payment or overdraft and i pay a hefty fee.
why si the reverse bad?
October 13, 2013 at 10:14 PM #766843CA renter
ParticipantAgree with scaredy. Just because someone closes an account, it doesn’t mean that a financial institution should be able to completely delete their accounts or eliminate access to those records.
If particular financial records are supposed to be available for a certain amount of time, then they should be available for that duration, whether the account is open or closed.
October 13, 2013 at 11:28 PM #766844Participanton the other hand i probably shouldve printed it out the second it was available. i mean, i kinda know not to trust banks. but i really did think it would just be there, not go anywhere. now it is reinforced that a bank is out to fuck with youa t all times no matter what. it’s clear the bank does not give one rat’s ass about you or me or anyone. i just sort of thought they’d leave the forms there. w hat a sucker. what an idiot i was.
i also hate how their interest rates are higher than average but they proudly display them as youw alk int he bank ona big sign of the day, like it’s a good deal.
October 14, 2013 at 9:09 AM #766859UCGal
Participant[quote=CA renter]Agree with scaredy. Just because someone closes an account, it doesn’t mean that a financial institution should be able to completely delete their accounts or eliminate access to those records.
If particular financial records are supposed to be available for a certain amount of time, then they should be available for that duration, whether the account is open or closed.[/quote]
I had a similar experience (albeit smaller $#’s) with Chase. I’d had a WAMU account which was taken over by Chase. They slowly but surely eliminated all interest and started charging fees. (No grandfathering.) The interest was ridiculously low on our MM account. So low we moved it to the credit union.
The following year we didn’t get a 1099-int. I no longer had online access to get the info since we no longer had accounts there.
They didn’t mail us the 1099.
I called to ask and they said they don’t send them if they paid less than $10 in interest for the year – but that we were still required to report it. That <$10 was the reason I'd changed - same account was getting $30 previously. Banks are slimy.
October 14, 2013 at 10:28 AM #766878livinincali
ParticipantWhy don’t you just figure out the interest paid from an amortization schedule. You probably know when you originally got the loan what the interest rate was and the total balance. Just plug those numbers in a amortization calculator like the one found here (http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx) and click on the amortization schedule and figure out the interest paid for the year in question. It’s pretty simple to do the math and it will be close enough.
October 14, 2013 at 10:32 AM #766880spdrun
ParticipantRight, IRS won’t lock you up if there’s a $20 difference. Worse comes to worse, they’ll send you a bill for the difference.
October 14, 2013 at 12:51 PM #766904ParticipantI’m not a perfectionist but ball parking that ain’t gonna cut it for ne
October 14, 2013 at 1:09 PM #766905ParticipantYou have the numbers. Fact-check them using the formulas we’ve mentioned, if they make sense, send them in. It’s a 99 to 100 chance they’re correct if the math works. Stop obsessing over stupid shite.
October 14, 2013 at 1:10 PM #766906Participant[quote=6packscaredy]I’m not a perfectionist but ball parking that ain’t gonna cut it for ne[/quote]
It’s not a ball park if you know the required information which is the interest rate, the balance, and the date the loan started assuming you always made the payment. The amortization schedule is very straight forward it tells you what the interest payment was each month you paid. The bank has to figure it out ahead of time so that they can determine what the monthly payment it for a balance over 30 years at a particular interest rate.
October 14, 2013 at 2:33 PM #766907Participant[quote=UCGal]
I had a similar experience (albeit smaller $#’s) with Chase. I’d had a WAMU account which was taken over by Chase. They slowly but surely eliminated all interest and started charging fees. (No grandfathering.) The interest was ridiculously low on our MM account. So low we moved it to the credit union.
The following year we didn’t get a 1099-int. I no longer had online access to get the info since we no longer had accounts there.
They didn’t mail us the 1099.
I called to ask and they said they don’t send them if they paid less than $10 in interest for the year – but that we were still required to report it. That <$10 was the reason I'd changed - same account was getting $30 previously. Banks are slimy.[/quote] We also had the WAMU->Chase experience (and no 1099s for accounts with less than $10/year interest). Haven’t changed because we have a number of accounts there and I generally like the customer service. Have contemplated moving to a credit union, but haven’t yet. How do you like the CU compared to Chase WRT interest rates, customer service, etc.?
October 15, 2013 at 9:12 AM #766914Participant[quote=CA renter][quote=UCGal]
I had a similar experience (albeit smaller $#’s) with Chase. I’d had a WAMU account which was taken over by Chase. They slowly but surely eliminated all interest and started charging fees. (No grandfathering.) The interest was ridiculously low on our MM account. So low we moved it to the credit union.
The following year we didn’t get a 1099-int. I no longer had online access to get the info since we no longer had accounts there.
They didn’t mail us the 1099.
I called to ask and they said they don’t send them if they paid less than $10 in interest for the year – but that we were still required to report it. That <$10 was the reason I'd changed - same account was getting $30 previously. Banks are slimy.[/quote] We also had the WAMU->Chase experience (and no 1099s for accounts with less than $10/year interest). Haven’t changed because we have a number of accounts there and I generally like the customer service. Have contemplated moving to a credit union, but haven’t yet. How do you like the CU compared to Chase WRT interest rates, customer service, etc.?[/quote]
We had CU prior (had both) – but WAMU/Chase was walking distance. It sucks that we now need to get in a car to do banking. (Thank goodness for the new apps that let you do deposits with your phone.)I’ve always preferred the CU’s customer service. Rates are crappy – but better than what Chase was offering for the same MM account with over $25k. Now we hold cash at schwab since their bank interest rates are better. I can transfer money between schwab and the credit union with no problem.
The customer service at chase was more annoying – they were pleasant – but we had to go in, in person, each month to have them remove a fee they shouldn’t have charged. (We were above the min. balance.) And my husband had an IRA brokerage account that was close to impossible to pull from there. He wanted to open an IRA CD and was talked into this expensive mutual fund. When he wanted to do a trustee to trustee transfer they ignored written requests. My husband had to sit in their lobby and refuse to move till it was transferred. The VP was trying to move him out the door and he kept asking louder and louder why they weren’t doing the trustee to trustee rollover. Finally they did it. (45 minutes of creating a scene before the VP finally made it happen.)
So… customer service on normal transactions were fine – but they were very reluctant to give up IRA brokerage money and it was an epic fail in customer service for that.
October 15, 2013 at 9:25 AM #766915ParticipantI admire his self-control — the scene may have ended with me in county jail and the VP with a sudden and acute nosebleed.
October 15, 2013 at 11:43 PM #766939ParticipantWow, thanks for that post, UCGal. I can’t believe your husband had go through all that just to get them to process the transfer. Just wow…
We looked into a few CUs as well, but the rates were just so low. When Chase was WAMU, they had pretty decent rates; not the best, but good for a local/convenient bank. I hate moving money around all the time in search of higher yields, but it looks like that’s what we’re going to be stuck with for awhile. Janet Yellen will likely continue the never-ending War on Savers. 🙁
October 16, 2013 at 6:46 AM #766940ParticipantLoud in a bank is risky.
The sit in approach is not bad but could be time consuming
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