My Holoc accoount with bank american reset in december of 2011 I made the payment of $783.
Nix on investments but everything else is fair game!
According to the circumstances and time table you've provided, it is true. The federal government established methods for reporting and for considering credit in a series of regulations from the Fair Credit Reporting Act to Regulation Z. If a partial payment is made and not completed before the next cycle date on a loan, then the loan is considered and reported as one cycle -- or 30 days -- late.
It appears with the 2011 "reset" the payment amount was increased. There are regulatory procedures for lending institutions, requiring that changes in payments, repayment rates, etc. must be sent to customers 30 days before the changes take effect.
I am unfamiliar with the standard terms of a HOLOC but you might wish to review your original loan terms to see if this condition applies and then you might have leverage if the bank cannot show you were advised of the payment amount change prior to the first due date.
Best of luck, Cary.
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