paid 7000$ bofa visa signature and credit line goes down for seven ?

[mustangy]

thanks plasticorplastic.

but having expensive car genarate much more income all my clients are mercedes cllients cheaper used car you can make 4-5k a month s550 you can make 10k and over as soon as you work you good to go. but after accident other parties insurance and my insurance (full covarage i pay 800$ a month) not paying any cents for business looses, are as my lawyer says it takes at least a year to take some. before accident februrary my check was 16k a month.  in total in 10 years i paid to insurance companies 70k and now some body hit me rear ended i cant get any even collison is paid by other parties insurances. where is justice here ? 

[PlasticOrPlastic]

---

@mustangy wrote:

thanks plasticorplastic.

but having expensive car genarate much more income all my clients are mercedes cllients cheaper used car you can make 4-5k a month s550 you can make 10k and over as soon as you work you good to go. but after accident other parties insurance and my insurance (full covarage i pay 800$ a month) not paying any cents for business looses, are as my lawyer says it takes at least a year to take some. before accident februrary my check was 16k a month.  in total in 10 years i paid to insurance companies 70k and now some body hit me rear ended i cant get any even collison is paid by other parties insurances. where is justice here ? 

---

You mind if I ask what you do?

[Broke_Triathlete]

OP I don't have much to say other than sell your car and pay the creditors. No way could I walk into a court room and file bankruptcy with a $110K car. Just NO WAY. Google Dave Ramsey "Total Money Makeover" and really listen to it. It'll completely change the way you look at your $110K car. Then you can pay your creditors and not even think about BR. If you are claiming to file BR then BOA was correct in the action they did, because now whatever your debt with them is they won't recover as soon as you file.

I personally had no choice in my BR because my dad ran up over $100,000 in credit cards in my name, and utilities for 20 of his rental properties in my name flopped. I let him use my info for one card and he did all this extra without me knowing. So it was out of my control. You, on the other hand, have COMPLETE control over what you're doing.

Sell the car.

[joltdude]

That car is a buisness vehicle... I tend to think from how it is worded from the OP that he is a livery or such, where a name brand car. is an instrument of buisness not a luxury item...It appears to me that the bank is balancing chasing, and the OP should call the bank and see whats going on, what triggered it, and if they could reinstate some/part of his CL... That said.. he did a stupid thing by trying to mix buisness with personal credit just to save interest, and probably unknowingly triggered the issue... but his ranting about it will not resolve the situation... Hindsight is usually 20/20... His mentioning of BK seems like its a panic because without his vehicle, he can't conduct buisness... and thats understandable.. 

-J

[BarryNTexas]

BTW my response has no redeeming value for the OP as I think they have received excellent adivce.  Now it's up to them to be open to making some hard choices.

But clicking into this thread was like rubbernecking a horrible head-on collision on the interstate.  No matter how hard you try not to look... you do.

Good luck OP. 

"But for the grace of God go I!"  -BNT

[joltdude]

As an aside.. why does everyone seem to recommend the BBB for complaints?  They have no legal standing, or influence... or ability to pose sanctions on a company or buisness.. Frankly if some creditor,collections agency, or vendor gets a complaint from them, they can just throw it away... It has no bearing on their buisness..

[Broke_Triathlete]

---

@joltdude wrote:

That car is a buisness vehicle... I tend to think from how it is worded from the OP that he is a livery or such, where a name brand car. is an instrument of buisness not a luxury item...It appears to me that the bank is balancing chasing, and the OP should call the bank and see whats going on, what triggered it, and if they could reinstate some/part of his CL... That said.. he did a stupid thing by trying to mix buisness with personal credit just to save interest, and probably unknowingly triggered the issue... but his ranting about it will not resolve the situation... Hindsight is usually 20/20... His mentioning of BK seems like its a panic because without his vehicle, he can't conduct buisness... and thats understandable.. 

-J

---

Ahh I must have missed that. Thanks for clarifying J. I must have read over where he said that car was for business and not personal. That makes more sense. Well, then I have nothing else to offer that previous posters haven't already stated. I will now bow out with grace! LOL

[mustangy]

thanks for replies but can not sell the car. will be jobless and its not worth it because after taxi registartion KBB value goes under 50k for 2013 s550 just working hard to cover it. 

actually more then look for solution i just want to explain how banks shark against consumers. In economy goverment must push the financila system to help growing business thas how to keep economy and system healty. This is way even for banks more profit more money.  That tehy did now push me to bankcrupty and promete lazyness. 

I was an consumer who pays already over 20% interest to banks . 

[jd352]

If you have contacted them and they are unwilling to reinstate your original CL, there is not much you can do. It's not illegal, it is just the risk of relying on credit as extended credit is never guaranteed funds.

My suggestion would be to apply for another card from another issuer, or split the cost of the repair across multiple cards.