Bank Of America
Cashed check without my endorsement or authorization. Ripoff

I have a loan with Bank of America (BA) for a boat. Back in April of this year, the trailer for the boat was stolen. I contacted State Farm Insurance, who promptly cut a check for the replacement trailer. The check was made out to my wife, BA and me. I contacted BA and they said I needed to send them an invoice, quoting what he cost of the replacement trailer would be. After sending them the check and info, they would endorse the check and return it to me. I had my wife endorse the check (we are separated) and I sent the check off the BA for their endorsement.

About a month later I was contacted by BA who said the paperwork I sent them was incomplete and that I needed to send them something else. I then asked them to send me what they needed, so I would have the requirements in "black and white" so there would no further confusion as to what was needed. I explained to them that I had done what was asked of me prior to sending the check to them the first time, and didn't want to have this bouncing back and forth without some clear-cut instruction for me.

Their response was along the lines of "we don't send things like that out, just do what we're telling you." I then tried explaining to them that I did that before, and wanted something in writing to make sure I was fulfilling their requirements. They continued to refuse any type of written instruction be sent to me.

Now the interesting part, I received my monthly statement from BA and see that they have deposited the check against the principle of the loan. They did this without my authorization or endorsement. I have contacted State Farm, and they have been very helpful in trying to see what they can do to help me out.

I am getting nowhere with BA however. Each call I make dead ends on the desk of Shirley Young, of the Collateral Claims Department (1-800-248-6707 Ext 9529) who was not only unprofessional when I spoke with her but was also very rude. I had asked to speak with her supervisor on previous occasions, and was never put through to them, but she "relayed" the message from them to me. Of course the response was "we don't send things like that out".

My question is, how do I go about lodging a formal complaint against BA? A large corporation like them could probably care less about one individual lodging a complaint against them with the "Better Business Bureau" or whoever is the responsible agency to contact. But they have taken this upon themselves to handle the settlement check the way they see fit. What would the repercussions have been had I tried to "cash" the check without their endorsement like they did without mine? I'm guessing it would be fraud of some sort.

I have been a loyal customer with hem for years, and am about a year and a half ahead on my payments. I do also have a BA credit card which I am going to pay off and never use again. I refuse to give them any more of my business.

Could someone please tell me what the best course of action is at this point?

Company: Bank Of America
Country: USA
State: Florida
City: Jacksonville
Address: PO Box 45224
Phone: 80024867079529

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