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NFCU What should I do?

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Kennie02
Frequent Contributor

NFCU What should I do?

I have a joint NFCU CashRewards CC w/$10k CL w/DH. We have not been able to keep up with the payments but since its a joint CC I don't want it to completely destroy my credit. DH has been debating filing chap7 BK but obviously since this is a joint card I will still be liable. I am currently 60 days late. I don't want it to get worse and lose the card w/ my highest cl off my credit report. I am not sure what will do the most damage... If I keep the card, beg them not to close it and try to make some kind of arrangements to catch up or if I should just let them close the account and just send what I can when I can.... 

NFCU cash $25k | BofA Custom Cash $25k | Amex BCP $18k| Costco Anywhere $14.5k | Apple Card $5.25k | Cap One QS $4.5k | Sephora Visa $4k | Discover It $3.5k | Citi DC $3.5k | Citi AA Mile Up $3.1k | Chase Amazon $3k | Amex ED $3k | Chase IHG $3k | Chase Freedom Unlimited $2.5k | Chase Freedom $2.5k | Citi Rewards $2k | Last HP 8/16/22
Starting score 09/2013: 530 Current FICO 8:
Credit Age:
New Accounts:
Inq (6/12/24M):
Message 1 of 6
5 REPLIES 5
fishbjc
Senior Contributor

Re: NFCU What should I do?

what's the balance?  What about enrolling in a DMP program?  This is another reason to NOT apply for cards jointly.  ARGH!!!!!

 

If you send what you can, when you can....you're going to get into real trouble, as those will be rolling lates. 

 

NFCU is pretty good about working with you, see what your options are with them.  Once you screw them, you're finished. 

Message 2 of 6
Kennie02
Frequent Contributor

Re: NFCU What should I do?

Balance is $10,163 since I have been late. I agree on the joint CC's. Learned my lesson. Does NFCU have a DMP? Is that what you mean? I have an IRA w/ them and checking accounts. I have debated whether I should use the funds in my IRA to pay down this CC... I really don't want to let this go and I don't want to ruin my relationship with them. 

NFCU cash $25k | BofA Custom Cash $25k | Amex BCP $18k| Costco Anywhere $14.5k | Apple Card $5.25k | Cap One QS $4.5k | Sephora Visa $4k | Discover It $3.5k | Citi DC $3.5k | Citi AA Mile Up $3.1k | Chase Amazon $3k | Amex ED $3k | Chase IHG $3k | Chase Freedom Unlimited $2.5k | Chase Freedom $2.5k | Citi Rewards $2k | Last HP 8/16/22
Starting score 09/2013: 530 Current FICO 8:
Credit Age:
New Accounts:
Inq (6/12/24M):
Message 3 of 6
Kennie02
Frequent Contributor

Re: NFCU What should I do?

An update... I contacted NFCU and they said they can't work with me because I am not the primary owner of the CC. DH has another $5K CC w/them that is considered delinquent. He would have to call and set up debt management w/ them for his accts. I'm not sure how thats going to work w/ the Chap 7 BK.... ugh... 

NFCU cash $25k | BofA Custom Cash $25k | Amex BCP $18k| Costco Anywhere $14.5k | Apple Card $5.25k | Cap One QS $4.5k | Sephora Visa $4k | Discover It $3.5k | Citi DC $3.5k | Citi AA Mile Up $3.1k | Chase Amazon $3k | Amex ED $3k | Chase IHG $3k | Chase Freedom Unlimited $2.5k | Chase Freedom $2.5k | Citi Rewards $2k | Last HP 8/16/22
Starting score 09/2013: 530 Current FICO 8:
Credit Age:
New Accounts:
Inq (6/12/24M):
Message 4 of 6
fishbjc
Senior Contributor

Re: NFCU What should I do?

If you're going to file BK, do it all the way.  There's not much sense in withholding the two cards out and they may make you file on everything (or your dh). 

 

I understand your angst.  When my DH hurt his back, we ended up getting behind on much of $17k, so we enrolled in a DMP.   We, thankfully, sold our home, so that did help.  

 

The DMP program is for 5 years and he got some really low rates, 0% - 9.9% for the most part.   I recommend looking into the DMP and see what they can do for you.  Send me a pm if you would like a recommendation.   

Message 5 of 6
Kennie02
Frequent Contributor

Re: NFCU What should I do?

I have no plans to file BK. I am a student and I do not want this on my credit in case I have a need for a student loan. DH may file on his own. Since the card is joint it won't be included unless we both file. Like I said I have no plans to file BK. I have a few CC's that I'm paying down but nothing bad enough to make me file BK.
NFCU cash $25k | BofA Custom Cash $25k | Amex BCP $18k| Costco Anywhere $14.5k | Apple Card $5.25k | Cap One QS $4.5k | Sephora Visa $4k | Discover It $3.5k | Citi DC $3.5k | Citi AA Mile Up $3.1k | Chase Amazon $3k | Amex ED $3k | Chase IHG $3k | Chase Freedom Unlimited $2.5k | Chase Freedom $2.5k | Citi Rewards $2k | Last HP 8/16/22
Starting score 09/2013: 530 Current FICO 8:
Credit Age:
New Accounts:
Inq (6/12/24M):
Message 6 of 6
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