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Just to recap to everyone, I had no idea when I started this thread way back when that I would ever see a good conclusion from it.
Attached is a letter I received from BOA today. I've scanned it in for everyone to see. I hope you all receive one of these in the coming days if not already.
Thanks to everyone who in addition to me took further action to get this overturned.
I am late to post but received the variable letter a few months back and was enraged. I found this site and began drafting a letter to my congress person as well as to Barney Frank. I had to step away from the letter for about a few weeks because I was angry and did not want that to cloud my ability to advocate for myself and others.
I received the letter last night confirming that my account would remain fixed. I will say that it was a horribly crafted letter, almost as horrible as the one that we were sent which stated that the terms of the account were being changed to a variable rate.
I just wanted to say thank you to all of you who spoke on behalf of the rest of us. I have regretted my decision to consolidate my loans with BOA but I am stuck with this loan for the short time. I took a higher interest rate so that I could have one payment and was told that of course they would review my account in 6 months to see if I could get my rate lower. I have tried twice to have the rate lowered and of course it has not been, they have no incentive to reduce the rate, where am I going to take my consolidated loan to?
Like many of you, I am working diligently on paying down my debt. Thank you for helping to make that task less difficult.
I spoke with Greg Davis' office this afternoon, and they told me in a phone conversation which was recorded that my and all Gold Option LOC's that are still in good standing (i.e. have missed no payments) they will get the letter.
Haven't recieved it yet as of today but they indicated they were all mailed on this past Thursday & Friday. We shall see, but they were pretty convincing and adamant it was happening.
I just wanted to say thank you to all of you who spoke on behalf of the rest of us. I have regretted my decision to consolidate my loans with BOA but I am stuck with this loan for the short time. I took a higher interest rate so that I could have one payment and was told that of course they would review my account in 6 months to see if I could get my rate lower. I have tried twice to have the rate lowered and of course it has not been, they have no incentive to reduce the rate, where am I going to take my consolidated loan to?
Don't regret your decision - if any of your consolidated debt was from credit card companies, you would have received letters from all of them by now significantly increasing your APR! In the end you probably have a lower APR now than you would had you not consolidated!
This is great everyone! I received two letters and I'm happy about their decision!
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OK I believe it now
