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Question about unpaid CC and repossession

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    Question about unpaid CC and repossession

    I stopped paying credit cards in June in anticipation of filing bankruptcy. I have 2 credit cards with Bank of America and an RV financed by Bank of America. I don't bank with them other than that. No checking or savings there. I haven't missed any RV payments since we are trying to keep it in the bankruptcy. Are they allowed to take the RV even if I'm current because I'm behind on the CC? The RV is fairly new and we've had it less than a year. It's a major part of our family. I really don't want to lose it. I read all through my RV documents and can't find anything that mentions it.

    I swear I won't sleep until this is over.

    #2
    No, banks cannot cross-collateralize. Only credit unions can do this. You can default on your credit cards and still keep the RV loan in good standing.

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      #3
      Thank you! I had read that about Credit Unions and couldn't find anything about banks. Thanks again! This whole process will age me 10 years.

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