I want to know if NFCU will let me reaffirm the debt for the car with out doing it for the cc. Doe anyone know if they can help>>
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I'm by no means an expert on anything but I did have a 2nd mortgage with NFCU and a car loan. My fear was that they would try to cross-collateralize (sp?) onto the car loan since I wanted to keep it and since it was worth more than I owed them. Before things got too sticky, I refinanced (the car loan) with someone else as to eliminate the chance of that happening.
I don't know how they'd react with you discharging one debt and wanting to keep one. -
Anyone else have thoughts on this? I have my mortgage, car and CC through one CU and I will be hoping to keep the house and car.
Should I be worried about the car?Comment
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Yes, I would be worried about the car too. I read many post here and from what I understand, Credit Unions want a reaffirmation on the loans. If you have a checking and/or savings account with them, MOVE ALL YOUR MONEY NOW! CUs are notorious for their "cross-collateralization"...which means they take $$$ out of you account to pay your loan(s).May 2008 Hired 1st Attorney/Stopped paying CCs
May 21, 2009 Retained 2nd Attorney
May 28th - Filed for Ch 7 (FINALLY!)
9/11/09 - DISCHARGED!!!!
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Just reread you post, why do you want to reaffirm the car loan? Do you have equity in the vehicle?May 2008 Hired 1st Attorney/Stopped paying CCs
May 21, 2009 Retained 2nd Attorney
May 28th - Filed for Ch 7 (FINALLY!)
9/11/09 - DISCHARGED!!!! Comment
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From personal experience you cannot do that.
Navy will not work around the CC clause at all.Comment
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So NFCU would want all the debt reaffirmed? I too have a Visa with NFCU; it is the most negative of my three CUs as they went variable and raised my interest but it is one of my oldest cards which was why I kept it.Originally posted by Klesko View Post
If I file, I planned on reaffirming with my three CUs; overall, they are good to me, have me at great rates and I can afford them. IT is the big banks that drove me to the edge and made themselves unaffordable.First consult: You go now, no CH 7 for you. You spent entire buffet. 13 has a 95 percent payback. (Owwwch) On to next consult....Comment
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File BK7: Jan 4, 2010
Reschedule 341: Mar 16 2010
Discharged: Apr 22 2010
Closed: May 6, 2010Comment
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I must have missed something along the way but I didn't realize your could reaffirm a cc or other unsecured debt.Filed Ch7 5/28/09 (Pro Se) Orlando, 341 7/01, UST selected case for audit 7/01, Last day for objection 8/31. Audit report filed 9/10, no material misstatements. Discharged and closed 9/22/2009Comment
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I am fairly certain you can, but there are no guarantees that the bank or CU will keep your card open.First consult: You go now, no CH 7 for you. You spent entire buffet. 13 has a 95 percent payback. (Owwwch) On to next consult....Comment
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