Level Wind Question

Forgive me for being a little ignorant in regards to my gear.

I own a 15 year old Abu/Garcia 5500 that has been good to me for a long, long time as my plug reel which I don't use all that often. I've kept it clean and well lubricated, but when I just loaded it with new mono yesterday, most of the line 'bunched up' at one end of the spool. I know there has to be a simple explanation, but at the moment I'm just a little too ignorant to figure it out. Why would most of the line be attracted to one end of the spool?

Thanks!

[Threemuch]

The level wind is driven off a rod that has a pattern of grooves scribed in it that looks like a bunch of X marks. There is a brass piece that guides the level wind back and forth in this groove. If that piece wears out, it will start skipping the track and the line will bunch up.

I believe the part you need is 5176. Please check the schematic to see what I am talking about.

http://www.abu-garcia.com/schematics/schematic.cfm

Once you have the part, it is a super easy fix. Afterwords, let all the line out behind a moving boat, and respool tightly, applying pressure with your fingers., otherwise the line won't line up with the level wind and it will cause undue stress on the line when a big fish goes deep into your spool. You don't want that.