10-08-2007 09:39 AM
10-08-2007 09:44 AM
10-08-2007 10:23 AM
10-08-2007 11:15 AM
10-08-2007 11:16 AM
Personal LOC are usually revolving just like HELOC. LOC = Consumer Finance Loan, I say NO!
Very very good question! I've seen HELOC report as revolving but the balance was treated as installment. Now HELOC and Personal LOC can be very different credit titles.
To answer your question, I believe(not sure) HELOC bal is installment. No idea about personal LOC.
Does anyone know how a personal LOC is treated?
Does anyone know if a personal LOC is Consumer Finance?
10-08-2007 11:28 AM
10-08-2007 04:16 PM
10-19-2007 12:41 AM
10-19-2007 06:00 AM
Are line of credits considered revolving debt? i have a line of credit back by my good credit score, it is not a term loan, but just an open line where 2% is due each month.
Would this be considered revolving and count against me?
TU (sorry, it wants to double-space):
Date opened [?] Sep, 2007
Account number [?] 8524
Account type [?] Home Equity Loan
Credit limit [?] $50,000
Largest past balance [?] $3,056
Credit Type [?] Overdraft/Reserve Checking Account
Account holder [?] Individual AccountFeel free to join me in bafflement. They seem to title it however they want, and they don't treat it the way they title it.