I have an unbelieveable story for you and I'm hoping you can help me. I'm fighting a losing battle with Bank of America over a loan that was granted before they took over MBNA. Ever since the change my finance charges have gone insane. My payment is 501.00 on a 25,500 loan and the statement I received yesterday says they charged me 418.20 in finance charges! Less than 100.00 is going toward my principle.
MBNA had told me that as long as I made my payments in full and on time, my APR would decrease. I have made several calls to them (now B of A) and they refuse to lower it. Their story is that they can now NEVER change it because it was from MBNA, even though its now considered a Bank of America account. They are rude everytime I call and ask for help.
Today I went to my local branch in Brea and sat down with a specialist who told me to call the same number I've been calling. I told him how rude they are and asked him to call for me. He did and spoke to a csr named Claire. He had to tell her several times not to raise her voice at him and reminded her that her job was customer service! I couldnt believe it. After he terminated the call, he told me there was nothing he or I could do, except maybe ask my parents to put up their house for another loan to pay off this one! Thats all he could do.
I am a 40 year old single mother trying to put my 18 year old through college, at my job with a major insurance company for 18 years and always pay my rent and bills in full and on time. I'm not trying to get out of paying the loan, I'd just like to pay it off before I'm deceased! I'm so upset and frustrated, I dont know what to do next. Please help me, if you have any advice I would be forever grateful.
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