- Report: #969008
Report - Rebuttal - Arbitrate
Complaint Review: Bank of America Practice Solutions
Bank of America Practice Solutions600 N Clevland Street, Suite 300 Internet United States of America
Bank of America Practice Solutions Bank of America Dental practice loan scam, Internet
*Consumer Comment: Orthodontist in Md,
My Amendment documents was for a payoff period of 60 months or 5 years. The document also refers to a payoff penalty of 2% of the original loan during the first 5 years of the loan.
I am now past 5 years from the closing date of the loan and have tried to pay it off. Bank of America is now trying to reinterprete the terms to be from 5 years since the amendment. I have talked to them multiple times reviewing the exact wording in the amendment that refer to "the Loan" dated 2007. I have also appealed to logic that the document states that there would be no penalty after 5 years for a payoff yet the amendment is only for five years.
At this point I plan to pay only what is owed and not the penalty and fear I will end up in litigation with Bank of America.
This report was posted on Ripoff Report on 11/14/2012 09:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-of-America-Practice-Solutions/internet/Bank-of-America-Practice-Solutions-Bank-of-America-Dental-practice-loan-scam-Internet-969008. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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