How could a company go out of business and not contact the credit bureau's

to let them know that the loan has been sold to BAC and they are out of businss. So now my credit report shows that I have two second mortgages for $39,000.

I have been fighting with equifax trying to get the balance to zero and it update to say that the loan was sold. How incompetant can you be. I am sooooo sick of people that cannot speak English or understand what I am trying to say. I am now in the process of contacting the Federal Trade comission.

My income to debt ratio is so far off, it has really messed up my credit score and now I can re-finace my home. Good luck to everyone that has to deal with this.

Product or Service Mentioned: Wilshire Credit Loan.

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I just called BOA because the collection agency has finally closed out this account. Now, BOA said they don't have record of the account (initially a Wilshire account).

I asked for it in writing, but all the lady could do was put in a request.

My credit has never been bad before. :sigh


I have exactly the same issue. Experian is not able to help me out as well.


We are in the same exact boat-our credit report shows that we have two exact mortgages for the same exact amount with Wilshire and with Bank of America and our debt to income ratio is really screwed up which has adversely affected our credit score for all three credit reporting agencies-no one seems to want to help us, not Bank of America, not our real estate agent, not our attorney, not the lending firm, no one. We live in Indiana and do not know what to do or who to turn to-PLEASE HELP US!


credit bureaus have 30 days to correct the problem If Wilshire is out of business and can not be contacted or respond then it is a nobrainer and FTC requres them to remove anything errouneus which this is.


Actually, Bank of America already owned Merrill Lynch which owned Wilshire. In November 09 through Feb 10 they transferred most of the mortgages from Wilshire to be under the BAC (that's Bank (of) America Corporation, which is also their stock symbol) umbrella and then sold the Wilshire name and the horrid Wilshire employees to IBM (which is the one ray of sunshine in this for BofA customers), so unless IBM was just throwing millions of dollars down the drain the Wilshire name and bad business practices will be back soon.

You can find all this by Googling.

We have asked BofA three times to indicate that the Wilshire mortgage is closed and paid off and each time we get the run around that it will be done within 60 days.

Trying Planet Feedback next. :(


WOW! I just also saw this on my credit report as well! Please update and let me know if you get anywhere.

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