NFCU or PenFed Credit after Discharge

[Anonymous]

Unfortunetly both NFCU and PenFed suffered losses when I filed Chapter 7 last year.  They haven't canceled my membership and I still have active checking and savings accounts through them, but I'd like to know if anyone has ever been able to reestablish credit through either of these two credit unions after having debt discharged? 

[Scupra]

NFCU will be a no go unless you paid them back everything you owed them. Hopefully someone will chime in about PenFed.

[Anonymous]

I believe I read Penfed also has a long memory......I know they definitely retighened the purse strings after last summer. 

[DaveInAZ]

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@Anonymous wrote:

Unfortunetly both NFCU and PenFed suffered losses when I filed Chapter 7 last year.  They haven't canceled my membership and I still have active checking and savings accounts through them, but I'd like to know if anyone has ever been able to reestablish credit through either of these two credit unions after having debt discharged? 

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Pretty much no credit union will not extend you new credit unless you re-pay the amount dischrged in BK.

I'm surprised they let you keep the active accounts, most CUs have a cross-collateralization clause (that's not the exact legal term) that they can seize any assets you have with them to offset credit losses.

[pizza1]

Welcome to boards Johnny2Thumbs! Glad you're here, and posting! Please stick around, and don't be shy!

I agree with the above posters...CU's won't let you back unless you pay them.