Legal Question in Credit and Debt Law in Missouri

I have an unsecured line of credit with Bank of America. I combines a bunch of CC debt onto this line a year ago. I got a fixed interest rate of 10.99 and it would be paid of in 8 years. I just got a letter from Bank of America stating that my fixed rate was becoming variable. I have never been late, overlimit, nothing. I always pay more than min. due. Can they do this?


Asked on 10/24/09, 3:59 pm

1 Answer from Attorneys
Sean Santoro Santoro Law Office

It depends. Did your agreement give them the option of doing this? Read the fine print. If you wish me to review this contract vs. applicable federal law, feel free to email me at [email protected] or call me at 913 441 5025.

---Sean Santoro

Santoro Law Office

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Answered on 10/30/09, 11:26 am


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