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"B of A method of reporting HELOC to CRA"

  • jdandco
    Posted: Oct 21, 2009 04:04 PM
    Flag for inappropriate language
    Jackson, CA
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    I wondered if anyone else has this problem. I recently found out that B of A is reporting the balance of my heloc as "payoff balance" which is principal AND interest. Since my HELOC is near its maximum, reporting it this way makes it look as if I am overdrawn, which I am not! I suspect this is the reason my credit score has taken a dive lately.

    If anyone else has a B of A heloc, and has had a credit report pulled lately, can you check to see if this is true for your account? If so we should scream bloody murder because this is not right. Thanks for any help you can give me!


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