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02-03-2017 06:11 PM - edited 02-03-2017 06:13 PM
Hello myFICO. I recently had my NFCU CashRewards and GoRewards(joint) closed due to going more than 60 days past due, I immediately called them when I recieved the letter and they said there was nothing that could be done. However I recieved another phone call today from someone in their Credit Counseling department, and she has told me that as long as I can bring the accounts current before they get to 90 days past due, that she can "most likely" get them re-opened. I wanted to check on here to see what peoples experiences are and make sure they aren't lying to me. The "most likely" statement had me worried. But at the same time she said that if I could make my payment by X day then she could have them reopened within a few days after. Please help! These account are very important to me and I really hope they aren't just pulling my leg to squeeze a few more bucks out of me before the charge-off the account.
PS. I have a few capital one cards that are about to charge off
02-03-2017 06:18 PM
Do you mind telling us what happened that all of your rebuilding cards are about to be charged off?
I would like to think they are not pulling your leg.
If you are having a hardship that is not correctable in the very near future, you may end up in the situation again down the road.
02-03-2017 06:22 PM
My wife and I got in a little more debt than we got handle and she got laid off from her job. We finally had to let something go and it ended up being the cap ones. We both had 2. She still has 2 amex cards and 1 navy in good standing. then we have the join navy thats 60 days and i have my personal navy thats 60 days.
02-03-2017 06:29 PM
Sorry to hear about your situation. Hopefully she will be able to find other employment quickly even if it's less money. My theory is some money is more than no money.
Good of luck to you.....but a quick reminder: just because it's charged off, doesn't mean it goes away. Also, Amex and the current Navy account very well may be affected with AA.
02-03-2017 06:57 PM
I would say Navy has a history of being good to customers, helpful and straightforward. So most likely she was telling the truth.
Unless you get it in writing, it's a risk. You have to decide if the amount of money you have to give them is worth the risk that they may reopen it or may not. I guess it depends on how much money and how much it would hurt you guys now to part with that money.
If you pay it without a written guarantee, I would prepare yourself emotionally for the loss of that money. But I would say, well at least it's one less chargeoff/baddie on my reports so it may be a win anyway.
02-03-2017 09:22 PM
Well no one can say exactly.
But I have read a lot about NFCU and AA is pretty rare. Though, I did read a couple times people were AA'd. I would say it's a less than 10% chance, but that is only my opinion.
02-04-2017 07:59 AM
Good advice here so far... I'll just add that you'll be doing yourself a favor later on if you can work something out with Capital One as well.
I know from past personal experience that they can be very aggressive (lawsuits, etc.) and at a minimum they'll report the amount of the charge off to the IRS, meaning you'll owe taxes on it. If they offer you any options at all, you might want to consider it if there's anyway possible.
02-04-2017 10:06 PM
Do you have a number or contact you could DM me with? I had diff results and was not 30 or 60 days late but had account closed.
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