Redemption 722 turned me down!

[justbroke]

I've read some posts where people have talked to the CU and they released the cross collateralized loans. they may not want the car.

That is exactly what I recommended the poster do. Contact the Credit Union!

[TEW]

The problem in this case, is that it's a Credit Union and they tend to cross-collateralize all accounts! That's the only problem I see.

I've read some posts where people have talked to the CU and they released the cross collateralized loans. they may not want the car.

[justbroke]

Have you asked the attorney, if you are current with your car loan, why would they want to take the car?? Its better that you make the payments, then it is for them to take it. I never signed a reaffirmation with my vechile and I am still making payments and still have my vechile. I would ask your lawyer if you can sign a reaffirmation with them.

The problem in this case, is that it's a Credit Union and they tend to cross-collateralize all accounts! That's the only problem I see.

[jessegirl]

I am behind in the credit card and personal loan. I had to get behind to pay the lawyer. I have little take home income since I work for the govt and only take home 45% of my gross.


The auto loan is current. If they do not let me keep it I will lose my job and prob be homeless. I cannot wait.

This sucks soooooo bad!!

Have you asked the attorney, if you are current with your car loan, why would they want to take the car?? Its better that you make the payments, then it is for them to take it. I never signed a reaffirmation with my vechile and I am still making payments and still have my vechile. I would ask your lawyer if you can sign a reaffirmation with them.

[inpain66]

I am behind in the credit card and personal loan. I had to get behind to pay the lawyer. I have little take home income since I work for the govt and only take home 45% of my gross.


The auto loan is current. If they do not let me keep it I will lose my job and prob be homeless. I cannot wait.

This sucks soooooo bad!!

[mccaverty]

I was approved by 722redemption just yesterday, and I'm not all that excited now that I know how the process works. 24 percent interest for the first year I could probably live with (in the absence of any other options) but the limited number and quality of vehicles to choose from is pretty depressing...and there's the awkwardness of having to drive the person who delivers your car to the nearest bus station...

[justbroke]

Are you beind on your car payments or those other loan products? Is the loan and credit card cross-collateralized with the car? (Call the CU and ask if the loan, car, and credit card is cross-collateralized.)

If they are cross-collateralized, this will make it difficult without getting the CU to agree to remove that cross-collateralization. You'd also (more than likely) need to be current on your car.

[inpain66]

I got turned down for a redemption loan with 722!!!


This is not good because now I have to rely on the credit union letting me keep my car. If they do not let me keep it then I will lose my job and likely end up homeless.


I was soo happy yesterday when I paid all the money to the lawyer. Now I am bummy again.

what are the chances my credit union will let me keep the car? I have a 4k credit card with them and a 9k personal loan with them on top of the 16k car loan..