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I was send a letter today saying that when I reach my Credit Limit I must pay back any overage on the next payment. My question is I am nowhere near the limit. Was this a generic letter sent to all Line of Credit customers.
April 16, 2015 09:02:32 PM
In reply to Bob, Shrewsbury
Thanks for connecting with us about the notification we recently sent, Bob! We'll be glad to clarify this a bit for you.
We have recently sent a letter to all of our valued Customers who have Home Equity Lines of Credit with us, which reviews some recent changes to how your statements may appear. In the notification, we're letting you know that if you happen to borrow more than provided by your approved limit, this additional amount owed will be included in the total amount due for the next payment. We have sent this notification to all Customers associated with this product and although it may not apply to your account in this moment, we kindly ask that you keep this notification for your records going forward.
We encourage you to check in with us if you have other questions, Bob! Our Financial Solutions Group Specialists are available 24/7 at800-937-5020, or we can assist you at any TD Bank Store: http://bit.ly/TDStores.
We hope this provides some help, Bob! Let us know of any questions and have a great upcoming weekend.
Justin B, Mount Laurel
April 16, 2015 09:06:30 PM