Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Scores
Profile Image

Question By

0 Contributions
0 People Helped
HELOC Deliquency Listed Monthly
In a short sale, I made payoff arrangements with the bank holding a Home Equity Line of Credit. A new promisory note for $35,000 was arranged with the stipulation that if it is paid off over the next 15 years, the balance of $98,000 HELOC amount will be forgiven. Payments have been underway, on time, for over 9 months, However, the bank reports monthly a $98,000 deliquentcy. I have been to the bank to ask them to stop reporting the the original amount as a deliquent, but their response is that they will continue to report it until the $35k promisory note is paid off. This seems wrong. My credit score will never improve if they don't stop the reporting monthly. Is there any recourse to stop the reporting?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.