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Registered: ‎12-30-2014
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NFCU re-opening closed past-due CC's

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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

Ch7 discharge 2/2015
Valued Contributor
Posts: 1,567
Registered: ‎07-13-2016

Re: NFCU re-opening closed past-due CC's

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. 

 

BK 5-2012 Revolving Rebuild Started 6-2016
AMEX ED & SPG | BOA CR | PenFed PR & CR | NFCU FS | Discover IT | Cap1 QS & VENTURE | LOWES | Barclays AVIATOR
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Re: NFCU re-opening closed past-due CC's

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.

Ch7 discharge 2/2015
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Posts: 1,567
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Re: NFCU re-opening closed past-due CC's

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. 

BK 5-2012 Revolving Rebuild Started 6-2016
AMEX ED & SPG | BOA CR | PenFed PR & CR | NFCU FS | Discover IT | Cap1 QS & VENTURE | LOWES | Barclays AVIATOR
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Registered: ‎12-21-2009
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Re: NFCU re-opening closed past-due CC's

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.

NFCU-Amex-USBank-BOA-Citi-Chase-Disco-Capone-FifthThird-BBVA-DSNB-Sync-Comenity
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Re: NFCU re-opening closed past-due CC's

How high of a chance is it that NFCU will AA us down the road with the cap1 charge offs that will be coming very soon?
Ch7 discharge 2/2015
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Posts: 514
Registered: ‎12-21-2009
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Re: NFCU re-opening closed past-due CC's

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.

NFCU-Amex-USBank-BOA-Citi-Chase-Disco-Capone-FifthThird-BBVA-DSNB-Sync-Comenity
Moderator
Posts: 8,801
Registered: ‎06-20-2015

Re: NFCU re-opening closed past-due CC's

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.

 

Here's some reading:  http://www.thedailybeast.com/articles/2015/12/28/capital-one-files-disturbing-number-of-lawsuits-aga...

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Re: NFCU re-opening closed past-due CC's

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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