Van,

Thank you for your help with my problems with Bank of America. As I mentioned in our phone discussions and after speaking with Craig Andrews, I have instructed my attorney to file suit.

I will capsulate for you, in writing, what Craig explained to me as Bank of America’s position with regard to my account. I believe you already have my previous letter to your bank explaining what has happened. Much of this will be a recap of our phone conversations. I had hoped that we would be able to easily agree as to the facts. Apparently, that hope is misplaced as you will see.

My loan document is clearly dated incorrectly. Yet, Craig stated that it is Bank of America’s position that I signed an agreement a full year before I actually did so. He stated that, while it seems irregular that I would sign a four year agreement a full year in advance, the contract is valid in his opinion and will be judged on what is in black and white. As he stated over and over again, the contract is the “gold standard”.

Rather than blindly reading a flawed document, I thought it a good idea to ask Craig a few questions and here are the conclusions that I was able to draw. To believe Bank of America’s gold standard rendition of what happened, here is what you have to be willing to swallow.

1.) You would have to believe that I walked into Lee Jarmon Ford on January 7, 1996 and bought a truck on a four year instrument that was to be serviced by Bank of America.
2.) I didn’t take delivery of the vehicle that day. According to Craig, I waited fully one year to the day and did not make a single payment on the loan during that time….even though we had an agreement.
3.) On my one year anniversary, I went to Lee Jarmon Ford and picked up the vehicle that I agreed to purchase a year ago. I then made 47 consistent and timely monthly payments under the agreement even though I would have only been obliged to make the payments for the first three years….right? I.e. If you believe that the agreement starts on January 6, 1996, and you agree that it is a four year agreement, then it must mean that the term of the agreement expires on January 6, 2000. However, I made payments all the way up until the 47th payment was made in late 2001.
4.) Then, if you believe Craig, I unexplainably took the vehicle back to Lee Jarmon Ford in Dallas, where I bought it, on the “5 year anniversary date”…TO THE DAY…..and according to Craig voluntarily allowed my vehicle to be repossessed.
5.) Furthermore, you will have to believe that I did this to myself after carefully caring for my credit scores for 11 years. i.e. all of my professional life.

I don’t believe that will make much sense to 12 reasonable people.

Does it make sense to you? Does it seem reasonable? I hold a B.S. in Economics from Texas A&M University. At the time that Bank of America wrecked my credit scores, I had been in business for myself for over 8 years and had a credit score of over 720. I have now been in business for myself for the last 13 years as five years have past since this problem began.

My point is that I am not your average dead beat who didn’t make his car payments, ran into financial trouble, and then dropped my car off on your door. Quite the contrary, the records will indicate that I had more than of enough cash and assets to dispatch this “problem” had I been informed that there was ever a problem in the first place….had it been my responsibility to do so.

Let me take a minute to tell you what you won’t have to believe because it is fact. I bought the vehicle on January 7, 1997. I made 47 consistent and timely payments per the agreement. I returned the vehicle at the request of a Bank of America representative’s request whose name was Suzanne. I still have my notes along with the toll free number she gave me to call her back on. The only thing I didn’t do was to pay the disposition fee of 350-375 dollars and the mileage overage. Your bank never sent me a correct bill for it. Had they done so, I would have paid for it.

The bottom line is that I lived up to my end of the agreement in good faith. In return, Bank of America ruined my credit. That’s it. That’s all that happened here. It truly is that simple. As the financial institution responsible for servicing my note, it is incumbent on you to get your facts straight and your contract in order. It is further your responsibility to report correctly to the credit agencies. In my case, you did neither and I have been irreparably damaged because of your negligence to this point and obsolescence hereafter should the Bank continue to hold to its current position which is lunacy.

In the end, that will be the finding. Bank of America can square with that now, or they can square with it two or three or 7 years from now after my damages have mounted even further.

My attorney informs me that we will have a judge reform the contract date to reflect what actually happened. When that occurs, the question will be simple. Did I or did I not fulfill Bank of America’s requirements under the agreement? I am quite certain that I did even to the point of taking the 200 plus miles out my way to fulfill my obligation. You have already agreed and there is a record that shows that I made all 47 of my payments.

My attorney also informs me that any jury of twelve reasonable people is going to look at all of the facts. The fact is that Bank of America really isn’t sure what happened. If they are, they aren’t willing to admit it to me. All Craig can say is that Bank of America has a gold standard contract to go by. The fact is I paid 47 payments and returned the vehicle at your request as stipulated by the contract and in satisfaction of the final payment. The fact is Bank of America ruined my credit score and gave me not so much as a phone call; a letter of notification through the mail, let alone a certified letter before declaring to the financial world that the vehicle was repossessed and my account charged off.

All Craig can tell me for sure is that Bank of America is willing to stand by the contract as is even though he doesn’t understand how it could be the way it is. The explanation that I signed the agreement a year in advance of purchasing the vehicle is outlandish and it won’t make it in a court proceeding. Further, you can’t possibly support this position because if I had signed this agreement with you in January 1996, you would have entered it into your system and began sending me bills for my auto purchase, right? Do you have any such proof of that ever happening? No, you don’t.

I am tired of explaining to you in every sense of word that I honored our agreement and you screwed up my credit. I find it odd that I have to justify my actions under the agreement after making 47 timely monthly payments and returning the vehicle to the place you requested me to as satisfaction of the final payment under the contract. This is particularly disconcerting since it is PAINFULLY CLEAR that Bank of America entered the contract incorrectly into its systems. There is no other logical explanation! The contract is implausibly incongruent. The only thing Bank of America can be certain about is that I made 47 monthly payments beginning from the first month after I took possession and then delivered the vehicle back to the location of your request. Think about it. Other than that, I challenge you to find one thing in the agreement that adds up logically that you can support with a reasoned argument.

Do you realize that on my credit report with Experian as of July 25, 2006 that Bank of America shows this as a 60 month purchase agreement that was charged off? The same is true for Calvary….60 months. Can you say….INCORRECT? I have copy of it if you would like to see it.

Bank of America knows I am right, they just don’t want to admit and they hope that I will simply go away while my credit continues to be destroyed.

Now that I have the information in my hands, that will not be the case. Bank of America will step and take ownership of its mistake.

Clay Weger