Ask The Get Out of Debt Experts Bank of America Banking Issue

How Do I Get Bank of America to Lower My Interest Rates When They Say I Paid Late? – Kathy

“Dear Steve,

I took out a “consolidation loan” with BOA. The statements are like credit card statements instead of loan statements. I send my payments thru my bank. A while back that were recording my payments one day late and adding fees and uped the interest rate.

How do I prove this and get them to lower the interest rate to the original rate without my statements?


Dear Kathy,

The only two logical ways to accomplish this would be to provide proof of when you paid them or talk to a local attorney about suing them for unfair and deceptive trade practices.

If you are paying at the last minute, don’t do that. Instead always try to pay bills as soon as you can after you get them to avoid such problems.

Please post your responses and follow-up messages to me on this in the comments section below.

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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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