Home equity line of credit showing as asset

Surferdude

Hi I'm trying to figure out why my home equity lines of credit are showing as positive in my account when they are drawn. I have everything chosen correctly but it's still showing positive. Appreciate any feedback on how to make them reflect properly in my account. Thank you

Coach Jon

Hello @Surferdude,

Thanks for reaching out to the community! For a better understanding of the issue, could you please post a screenshot here showing what specifically is showing as a positive draw in your credit line account?

Thanks,

Coach Jon

Surferdude

I don't feel comfortable posting screenshots in the forum. Is there a way I can send directly to support? The screenshot isn't helpful because it's showing the correct amount except it's backwards. The amount should be negative for a HELOC balance and it's showing as an asset (positive).

Coach Jon

Hello @Surferdude,

Thanks for the reply. If you need a more private support experience, I would suggest contacting our Quicken Simplifi support team directly. https://help.simplifimoney.com/en/articles/5077917-how-to-contact-support

As for your situation, to help clarify can you let us know if this is a manual or connected account? Has the account been like this since you set it up, or is this behavior recent? What type of account is this (Liability, Investment, Asset etc.)?

Thanks,

Coach Jon

Surferdude

Thank you. I did reach out to support and they said everything looked fine when I sent screenshots etc. There is an entire record of the conversation. I tried my best to explain that the account is showing as an asset instead of a liability but for whatever reason the representative didn't get it and said everything is just fine goodbye. So here I am asking for help as support just gave me the cold shoulder.

Coach Kristina

Hello @Surferdude,

Are these connected accounts or are they accounts that were created manually? What account type is Quicken Simplifi showing assigned to them? You should be able to see this by clicking the settings gear icon (near the lower left in the web app), then selecting Accounts.

The account list should show the account name and type; if it's a connected account, it will also show the financial institution.

The process on the mobile app is similar. You would tap the menu icon (3 lines at the upper left), then select Settings, then select Accounts.

I look forward to your reply!

Surferdude

These are connected accounts. As noted they are showing the correct amount but they are showing a positive balance not a negative one like they are supposed to.

Coach Natalie

@Surferdude, thanks for posting back!

Since the accounts are connected, what is the name of the bank? Also, what are the accounts classified as under Settings > Accounts? Can you provide screenshots of the balances in Quicken Simplifi and a comparison screenshot of the balances on the bank's website for a comparison, please?

Once we determine that a balance discrepancy escalation is needed, we will also need the following additional data:

1. The names of the accounts in question, as they appear in Quicken Simplifi.
2. The names of the accounts in question, as they appear on the bank's website.

We look forward to your reply!

-Coach Natalie