Score lowered -Termed out HELOC

[Anonymous]

Hi,

I had a HELOC that had 50k owing and 135k avialble so it was reported as 135k line with 50k used. This was through Etrade. They are no longer in the HELOC business and they sold the debt. Its now being reported as 50k owed / 50k limit. I now have a lower credit score and a few cards lowered my lines. I don't have any late payments in the last 10 years. Is this something I can ask them to report differently or just keep paying it down? I pay about $1,000 a month on a 600 min due.

thanks

A-

[SpideySense]

it sounds like the new creditor has changed the heloc to a conventional loan.    I don't think you'll have any luck in getting your new creditor to report the loan as a heloc.  Can you establish a new heloc?  (with your description of 50k outstanding on 135k limit, you have a great funding tool if you can re-establish a heloc).

[Anonymous]

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@SpideySense wrote:

it sounds like the new creditor has changed the heloc to a conventional loan.    I don't think you'll have any luck in getting your new creditor to report the loan as a heloc.  Can you establish a new heloc?  (with your description of 50k outstanding on 135k limit, you have a great funding tool if you can re-establish a heloc).

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Other than improving my credit score I don't have a need for a HELOC. I guess I could think about it. It should be an easy qualify with the HELOC and the first I owe <100k and the home is worth about 375k.