Help! Need a Credit union that's OK with recent BK

[SupraTurbo2jz]

Ok, so I was gonna try to get in with PENFED since my local CU wont do anything for me until 2yrs post BK I was wondering if anyone knew of a reputable Credit Union thats willing to work with you with a 5 month old bk. Scores are below but hoping they will jump over 600 here in the next few days when util gets corrected.

[CH-7-Mission-Accomplished]

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@SupraTurbo2jz wrote:

Ok, so I was gonna try to get in with PENFED since my local CU wont do anything for me until 2yrs post BK I was wondering if anyone knew of a reputable Credit Union thats willing to work with you with a 5 month old bk. Scores are below but hoping they will jump over 600 here in the next few days when util gets corrected.

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Not sure what you're asking.  Most credit unions will let you join and open bank accounts with a new bankruptcy so long as Chexsystems is clear.  They usually will only give a secured credit card and credit builder installment loan for the first year after bankruptcy.  Then depending on the creidt union, they will give you unsecured credit or a car loan at one to two years post bankruptcy, depending on the CU.

What are you looking to do?  Did Penfed reject you to join the credit union?

[SupraTurbo2jz]

well my current credit union (Telhio) just told me they would do exactly what u describe but wont unsecure or refi auto until 2yrs post BK. I was trying to see/find if anyone who knew of a cu that would do it sooner. I have not tried with PENFED I was waiting on scores to increase and verify no issues with chex systems since my previous CU was included in my BK (automobile). My short term goal really is to refinance out of this crazy interest rate I have right now with my Automobile. everything else will fall into place after that. 

[SupraTurbo2jz]

oh and to add..they wont even let me open a checking account for 12 months . I have one with Huntington so its cool just guess they are real strict

[CH-7-Mission-Accomplished]

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@SupraTurbo2jz wrote:

oh and to add..they wont even let me open a checking account for 12 months . I have one with Huntington so its cool just guess they are real strict

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Your credit union is not typical and is being way more conservative than most.  I would not do business with them.

DCU is the best auto lender, but they require two years post bankruptcy to lend to you.  Penfed is known to be conservative, but lately they have been giving credit cards to people fresh out of BK, so maybe they have changed their lending policies.

But one year minimum is typical and two years is often the case with credit unions for lending except for secured credit cards and share secured installment loans.

[SupraTurbo2jz]

ok thats what Im finding out. I did get our chex systems report and we are showing items that where included in BK so I will be forwarding necessary paperwork to have those removed. Guess I'll just hold off for a year b4 I refinance the car. Already have a ton of negative equity (15%) so I may just send extra payments to get the principal down and put a goob of cash down in the spring at refi or trade in. PENFED here I come...lol.