Join CU now with BK on reports or wait?

[Anonymous]

I have a CH13 BK (filed in Sept 2011) that will be falling off my credit reports soon. It's already off EQ and should be off TU this month. But probably will stay on EX until June. 

I'd like to establish a relationship with a CU for future loan needs, particularly a mortgage. Would it matter if I joined the CU now or should I wait until the BK is gone from all my reports?

[Anonymous]

I can't speak for all credit unions, but it doesn't make a difference at Navy Federal. I would guess the only time it would matter is if the other credit unions base membership on your credit report, which I would think is almost none of them.

[shadanat]

I joined a local credit union two months after my chapter 7 discharge with no problems.

[pizza1]

Like others said, its ok to join now, but if your reports are about to be free of the BK, Id personally wait that extra month or two to be sure.

Sometimes when you join a CU, and you have a blemished report, you can at times be bucketed in their own internal system, and its hard to get out of that bucket even when your files are clean.

If you can wait just a little longer, I would.

[Anonymous]

That's exactly what I thought, too. The extra couple months probably won't make any difference so I'll wait until I'm clean. Thanks!

[Anonymous]

If I am filing for chapter 7 and I burning NFCU. will they take the money from my account?

[Anonymous]

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@Anonymouswrote:
If I am filing for chapter 7 and I burning NFCU. will they take the money from my account?

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Move your money to a different bank.

[Anonymous]

@Youngdumbbrokewrote:
If I am filing for chapter 7 and I burning NFCU. will they take the money from my account?

Move your money to a different bank.

VERY important you do this ASAP. Banks/CUs have a right to 'offset' meaning they can apply your checking/savings balances to any debts owed...