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Established Contributor
Posts: 719
Registered: ‎06-23-2010
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Navy Federal CU & Bankruptcy

I had a credit card with NFCU for 17k and a car loan for 23k that was discharged in a bankruptcy in january 2009.  I tried to reopen my checking and savings account with them and they denied because of my "previous handling of my accounts".  Has anyone had any experience with NFCU to where they were able to get a checking and savings account back with NFCU after filing a bankruptcy that included debts to NFCU?  Just wondering if it is something I should try to persue as I had been with them for many years, so I didn't know if it would help to for me to write in a letter to explain my situation.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 692 (04/03/2013) Tu: 717 (04/03/2013)
Goal Score: Eq: 720 Tu: 740

Wallet: Chartway Visa 10k | AMEX Costco TE (AU) 25k | Cap One MC 750 | Cap One Visa 750
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Navy Federal CU & Bankruptcy


Tazman81 wrote:

I had a credit card with NFCU for 17k and a car loan for 23k that was discharged in a bankruptcy in january 2009.  I tried to reopen my checking and savings account with them and they denied because of my "previous handling of my accounts".  Has anyone had any experience with NFCU to where they were able to get a checking and savings account back with NFCU after filing a bankruptcy that included debts to NFCU?  Just wondering if it is something I should try to persue as I had been with them for many years, so I didn't know if it would help to for me to write in a letter to explain my situation.


Yup.  Both Navy Federal and USAA are sore losers. 

 

I have seen them allow active duty members back on a case-by-case basis after a brief chat with one's CO. 

IAALBNYL
Established Contributor
Posts: 719
Registered: ‎06-23-2010
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Re: Navy Federal CU & Bankruptcy

Thanks for the feedback O6.  Has anyone else had any experiences with NFCU after bankruptcy?  Good or bad?


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 692 (04/03/2013) Tu: 717 (04/03/2013)
Goal Score: Eq: 720 Tu: 740

Wallet: Chartway Visa 10k | AMEX Costco TE (AU) 25k | Cap One MC 750 | Cap One Visa 750
Regular Contributor
Posts: 238
Registered: ‎09-09-2009
0

Re: Navy Federal CU & Bankruptcy

hate to say it, your chance of getting back with navy is very slim to none. your only chance that i see is you pay navy the money you owned them. navy,ussa discover cc,  and american express cc are not repeat they are not forgiving.  sorry .

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: Navy Federal CU & Bankruptcy

[ Edited ]

scrubs wrote:

hate to say it, your chance of getting back with navy is very slim to none. your only chance that i see is you pay navy the money you owned them. navy,ussa discover cc,  and american express cc are not repeat they are not forgiving.  sorry .


So true about AmEx.  They are also sore losers.

 

Discover might also be, but I have no knowledge about that.

 

With Navy Federal, USAA and AmEx you need to make them whole before they'll let you back in.  I'm not sure about PenFed, but they might also be members of the Sore Loser's Club.

IAALBNYL
Established Contributor
Posts: 719
Registered: ‎06-23-2010
0

Re: Navy Federal CU & Bankruptcy

Thanks for all of the advice.  It is doubtful I will be able to make NFCU whole again, so I guess I will just have to not worry about that.  I had the same issue with AMEX.  It ws the longest card that i had and I actually wanted to keep it because I only had an $800 balance, but at the direction of my attorney I was told I had to include it in the Chapter 7, so I did.  Ah, knowning what I know now, I would have just paid that one to a zero balance so that I would not have had to include it because it was my longest card and it was almost at a zero balance.  So, I have reached out to AMEX to explain the situation to them, and I am hoping I get some good news back that if I pay that restitution to them, they will allow me to get my card back or something different like the AMEX One.  Even if it has a minor limit until my scores go up even more, I would be okay with that.  I just want to get back in the door so that I can get my history back.  I never paid late with them and they made plenty of interest off of my $25k credit limit.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 692 (04/03/2013) Tu: 717 (04/03/2013)
Goal Score: Eq: 720 Tu: 740

Wallet: Chartway Visa 10k | AMEX Costco TE (AU) 25k | Cap One MC 750 | Cap One Visa 750
Regular Contributor
Posts: 238
Registered: ‎09-09-2009
0

Re: Navy Federal CU & Bankruptcy

am. express is not forgiving not only you have to paid them back - the 800 dollars but as long you have a bk on your credir report they will not give you a cc, until the bk falls off in about 10 yrs. my advice to you is dont reach for the cc stars like am. express, discover, citti, and even chase they will cause nothing but pain. join an cu and clean up your cr. i am 15 months post bk and i join navy and ussa cu and navy gave me an 8500 visa cc. and my fico for eq 702 tu 696.

Established Contributor
Posts: 719
Registered: ‎06-23-2010
0

Re: Navy Federal CU & Bankruptcy

***  UPDATE ****

 

Okay, I just wanted to give an update.  Well, I wrote into the executive office regarding getting my account back with NFCU.  I did a letter of explanation and everything.  They said they would not reconsider my account.  So, I'd done an appeal, and yeah that got denied as well.  I mean, I cannot blame them, but just wanted to post my experience for others to know.  Just wish I had not messed up on that one because I think NFCU is an excellent credit union, but this issue went way beyond me.  Even explaining the debt being from mom's medical bills (and I am sure they could see it from the cards), it was no use.  Not saying they are inconsiderate, but I guess if I lost almost $30k then I would say the same thing.

 

As far as AMEX, I've written into the executive offices to see if they would reconsider if I paid off the $800 balance I had with them, so I will let you all know how it goes.  Of course I am not going to voluntarily pay that debt which was discharged if I do not receive any assurance of getting my card back.  I am just hoping that if I am able to get that credit line reopened, it will hit my scores with a nice boost because that was my longest history credit line and would really help my AAoA.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 692 (04/03/2013) Tu: 717 (04/03/2013)
Goal Score: Eq: 720 Tu: 740

Wallet: Chartway Visa 10k | AMEX Costco TE (AU) 25k | Cap One MC 750 | Cap One Visa 750
Regular Contributor
Posts: 238
Registered: ‎09-09-2009
0

Re: Navy Federal CU & Bankruptcy

dont repeat dont waste your time with amer. express or navy if you burn them tou are black listed. only way to get back with them (amer, express ) is to pay them off and wait until the bk fall off in 10 years. all you doing is just spinning your wheels in the sand. they just dont care about your story. they here the same story everyday.

 

my advice to you is wait six months after bk and then appled for cap one or orchard  both of them is bk friendy. then pay on time and never be late, also clean up you credit report. i file 15 months ago my fico as of two weeks ago is eq703 and tu 695. dont rush into credit.

Established Contributor
Posts: 719
Registered: ‎06-23-2010
0

Re: Navy Federal CU & Bankruptcy


scrubs wrote:

dont repeat dont waste your time with amer. express or navy if you burn them tou are black listed. only way to get back with them (amer, express ) is to pay them off and wait until the bk fall off in 10 years. all you doing is just spinning your wheels in the sand. they just dont care about your story. they here the same story everyday.

 

my advice to you is wait six months after bk and then appled for cap one or orchard  both of them is bk friendy. then pay on time and never be late, also clean up you credit report. i file 15 months ago my fico as of two weeks ago is eq703 and tu 695. dont rush into credit.


Oh yeah, I agree with you.  I just wanted to let everyone know what my outcome was from my letter to the executives at NFCU.  Just wanted to share my experience in case anyone else goes through the same thing.

 

As far as AMEX, yeah, I will only pay them off if I can get back in the door with them.  And only doing that because getting a card with them will throw up my AAoA.  I do have 2 starter cards with Capital One that I got about 6 months after bankruptcy.  AMEX was the only other one I was looking at for a while just in an effort to get that AAoA back.  Thanks for the advice and insight.  I will still post to let everyone know what comes out of my letter to the executives at AMEX just to let you know about my experience.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 692 (04/03/2013) Tu: 717 (04/03/2013)
Goal Score: Eq: 720 Tu: 740

Wallet: Chartway Visa 10k | AMEX Costco TE (AU) 25k | Cap One MC 750 | Cap One Visa 750

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