Bank of America

Telephone	800-206-9724
Payment Percentage of balance	2.25%/ 2%/ 1.75%
Payment Minimum Amount	$15.00
Charge Free Period	1 Mo
Acct Required to be Open	3 Mo
CSP/Hardship programs	Yes
DMP Interest Rate	Varies -APR will be determined by BofA based on the minimum monthly payment (MMP) assigned to the account
Waive late fees	Yes
Waive over limit fees	Yes
DMP benefits begin	Upon proposal acceptance
Re-Age	BofA will apply re-ages to accounts in compliance with internal policies. Agencies shouldn't communicate specific re-age eligibility with the customer
Restructure	Yes. Payment may be as low as 1.75% of balance. Reduced payment must pay off within the original 60 months. Need to provide BofA with additional hardship reason and updated budget.
Recall	Yes. Some legal status accounts are not eligible for recall. BofA will reject proposal, if not eligible for recall.
Due Date Changes	No
Charge Off Period	120 Days
Drop Policy	Account will drop at 60 days of non payment, but creditor will leave DMP terms in place until Charged Off. Upon C/O new proposal can be sent for 1% of current balance
Internal hardship/ Promotion Policy	If active promo is better than DMP rate then we must wait for promo to expire prior to sending proposal. If DMP terms are better then it is fine to send proposal.
Misc. Information	Review most recent DMP Procedure Guide for up to date requirements. All proposals must include hardship reason and explain unique budget items in the CDN.