Bank of America Consumer Loan Complaint

Installment loan Managing the loan or lease

Bank of America Consumer loan department,

Installment loan Managing the loan or lease California

In - -, had a $37000.00 loan ( they describe it as a Line of credit ) however it was a one time deposit to my account, with set payments of $660.00 per month for 60 months. That said I have been paying on this loan for over 90 months. I am in the military and have been - from - to -. Now that I am back in the -, I have had time to try to see why this has happened and the Bank of America stills expects 6 more payments of $690.00 plus. I have called them and asked how a set number of payments has gone over Seven years expecting to surpassing Eight Years, I would not have took out a consolidation loan that would take over Six years to pay. We are going on Eight Years and I have not received anything from Bank Of America to resolve this. They sent me a application from - that has minimal information concerning myself. They sent me more paperwork that has the loan amount and term 60 months and then the 4 pages of terms and agreement. My last communication with the company the service rep said he would forward it up to a division that will investigate why this may have happened. From speaking with several representatives, in - the Loans like the one I received were discontinued and called something else. In - there was some other change concerning my account but the rep could not tell me, other than he would forward my situation to another division. I have paid over $60000.00 on this $37000.00 loan and I am certain this was not what I agreed to in -/-/-

Bank of America customer in California
Aug 05, 2015

* Source: CFPB Complaint Database

Bank of America response to complaint:
Closed with explanation

Consumer disputes how Bank of America handled their complaint

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Contact Bank of America

https://www.bankofamerica.com/
(704) 386-5681
100 N Tryon St Ste 220
Charlotte NC 28202
Bank of America
Bank of America

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