closed bank of America credit card?
they closed my account and i now make lower payments each month to them with a lower intrest rate, is my credit doomed now. I own a house that needs so many repairs but i dont have the money and need to get a home improvement loan, also dont have any equity……….
account closed for late payments
I worked for the bank in the credit department. What it sounds like is that collections has you on a type of payment plan or you are going through a 3rd party place to lower your payments due to the bank default rate. If you are going directly through the bank it is better than a 3rd party. As long as you are making your payments your account will not show past due on the credit report however, the credit card will show closed by bank on your credit report which is not the best however, not doomed. If you are using the 3rd party option, for some reason your account always shows 30 days past due with the bank and that is the way that it is reported. GET OFF THAT plan it will screw you over really bad in the end. I hope that this helps.
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