Rebuilding Your Credit

[Changingmantra]

Think I posted this in the wrong forum earlier.

One of my credit unions has been really helping me.  It is a community based one run by a bunch of sociopolitical activists.  I had reaffirmed a small loan through them when I declared bankruptcy.  I had not kept up with the payments over the years, but started doing better just over a year ago.  I called them two months ago and said that since I am getting back on my feet, I want to pay back ALL of the loan that I owe them.  They have actually given me a NEW loan, enough to cover the old one that is reporting negatively on my CRs and still have a few extra hundred dollars left.  So I was able to pay the old loan, which they will now positively report as having been paid in full.  And they will start a new fresh loan that will have a nice positive papyment history until it is paid in full.  I even have a judgement from them on Eq. and they said if I dispute it, they will not challenge it because they do not believe should still be there anyway after 5 years.  I have to call Equifax to find out if the CU can allow it to fall off, or if the courts have a say in it.  As I was leaving the CU, the loan officer said, "Isn't time for you to star considering a mortgage!"

When I declared bankrupty in 2003, I had a 11 year old car that this CU had a lien on.  My attorney kept telling me not to reaffirm, just get another car.  For a number of reasons, I could not do it with this particular creditor.  They work very hard for people on the margins; helping poor people and underemployed people establish accounts, credit, and secure mortgages.  I am neither poor, nor underemployed... just made bad decisions with my money, but knew that when I got back on my feet, they would be there waiting to help.  Hell, to my surprise, the CEO of the CU even showed up at my bk hearing to offer me support.  At that point, I knew for certain that if ever I could get to the point of my life of buying a home, they would be there for me.

[TheNewWorldMan]

I'm hearing more and more good stories about credit unions. I'm getting to the point where I may try one myself, just so I can accurately report on my experiences with them.

[Timothy]

I love my CU-

I am suprised the the NWM has not tried them-

Excellent CS, Great CL's and personal service.

[sidewinder]

I always thought you had to be part of a "special" group to deal with a CU. Like, work for a certain employer, be in the military, etc.........is this not true?

[Timothy]

My CU requrements are:

Anyone who lives, works, worships or attends school within Maricopa County, Pinal County or the City of Tucson is eligible to join Arizona Federal.

That is a few million people- as that includes Phoenix, Scottsdale, Mesa and Glendale AZ. 

I can also refer anyone to join my CU no matter where they live!!!!!!

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sidewinder wrote:

I always thought you had to be part of a "special" group to deal with a CU. Like, work for a certain employer, be in the military, etc.........is this not true?

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