topic Re: What reason do you give when asked about charge offs amd collections in Credit Cards

What reason do you give when asked about charge offs amd collections

CreditGuy03 — Tue, 20 Jan 2015 20:14:14 GMT

When a credit analyst asks you this what do you say that will sway them towards an approval

Re: What reason do you give when asked about charge offs amd collections

disdreamin — Tue, 20 Jan 2015 20:18:51 GMT

Personally, I'd go with whatever the truth is. But that's just me.

Honestly, I'd say the analysts can probaby tell pretty well when they're getting played. If you can think of it, they've probably heard it. I know in my line of work I've gotten pretty darn good at knowing when I'm being fed a line in order to try and influence my decision. For that reason, to me the truth is the most sound way to proceed. It may be crazy, it may not be a good excuse, but it's always truthful.

Re: What reason do you give when asked about charge offs amd collections

Callandra — Tue, 20 Jan 2015 20:20:43 GMT

I agree with telling the truth. I'm a CSR too (although not for a bank/CCC) and trust me, I've heard everything and then some. Just be honest and you should be okay (also, if your collections/charge-offs have been paid, you can always throw in that you've paid now and are working on fixing past mistakes and being responsible now).

Re: What reason do you give when asked about charge offs amd collections

Anonymous — Tue, 20 Jan 2015 20:40:02 GMT

@CreditGuy03 wrote:
When a credit analyst asks you this what do you say that will sway them towards an approval

As others have said, honesty. Assuming you paid them off and have a good record now I would simply own up to whatever the truth is and point out that you learned from it and are doing things in a proper responsible manner now. That is how I responded and the one analyst thanked me for an honest answer (because I can only imagine the stories they have heard).

Good luck!

Re: What reason do you give when asked about charge offs amd collections

Anonymous — Tue, 20 Jan 2015 21:58:50 GMT

@Callandra wrote:
I agree with telling the truth. I'm a CSR too (although not for a bank/CCC) and trust me, I've heard everything and then some. Just be honest and you should be okay (also, if your collections/charge-offs have been paid, you can always throw in that you've paid now and are working on fixing past mistakes and being responsible now).

I've been on both sides of the phone and agree that honesty is really the best policy. I also think that after being on the phone for a while it desensitizes you to some things because you're so used to people making things up to be what they think you want to hear.

Re: What reason do you give when asked about charge offs amd collections

EW800 — Tue, 20 Jan 2015 22:14:22 GMT

Another vote here for complete honesty. My wife and I went through some very ugly financial issues a few years ago. Through the rebuilding process, I have been completely honest about what caused the issue, what we did to try to avoid it and what we have done since to correct. This approach has worked well for us.

Re: What reason do you give when asked about charge offs amd collections

red259 — Tue, 20 Jan 2015 22:16:47 GMT

I would just be honest. That is how I handled my student loan late payments from years ago when asked on recon. What you need to do is explain to them why the problems you had before no longer apply (eg, got a steady job, no longer in hospital, etc). If you are lying and they figure it out then you are out of luck.

Re: What reason do you give when asked about charge offs amd collections

Anonymous — Tue, 20 Jan 2015 22:23:12 GMT

Definitely just be honest

Re: What reason do you give when asked about charge offs amd collections

EW800 — Tue, 20 Jan 2015 22:28:36 GMT

@EW800 wrote:
Another vote here for complete honesty. My wife and I went through some very ugly financial issues a few years ago. Through the rebuilding process, I have been completely honest about what caused the issue, what we did to try to avoid it and what we have done since to correct. This approach has worked well for us.

Adding to what I wrote above, I think Barclay has likely been the most understanding (or forgiving?) of what we went through. When I applied for the Barclay card about seven months ago or so, we were given a CL of something like $1,000. When I called in to the RECON line, I explained in full honesty every detail of what we went through and how we tried to avoid the issues and steps taken since. The rep on the phone bumped the CL to $7,000.

Re: What reason do you give when asked about charge offs amd collections

CreditGuy03 — Tue, 20 Jan 2015 22:30:12 GMT

The trouble im having is nasa federal. These guys are something else

Re: What reason do you give when asked about charge offs amd collections

Anonymous — Tue, 20 Jan 2015 22:33:22 GMT

Your c/o may just be too recent for them.

Re: What reason do you give when asked about charge offs amd collections

BarryNTexas — Tue, 20 Jan 2015 22:36:20 GMT

@CreditGuy03 wrote:
The trouble im having is nasa federal. These guys are something else

Great advice already given and now you say it's NASA, I think... maybe have to move on. They are a tuff nut to crack. Good luck.

Re: What reason do you give when asked about charge offs amd collections

B335is — Tue, 20 Jan 2015 23:17:57 GMT

I own up to my past mistakes. Regardless of the circumstances that earned me charge-offs/collections, handling my own rebuild process was a long and difficult process. I also reassure them I have taken steps to ensure I don't make the same mistakes again. I used to jot down all my data points prior to calling a reconsideration number. These days I tend to wing it if I call (which is a totally different conversation when you churn cards).

ETA: I just noticed you were asking about Nasa. I've found Credit Unions in general, to be very difficult as far as reconsideration goes. Nasa is up there with Penfed - tough.

Re: What reason do you give when asked about charge offs amd collections

Anonymous — Tue, 20 Jan 2015 23:22:35 GMT

Because it's NASA you're dealing with, I see a chance for a unique opportunity to blame any financial woes you have on being abducted by invaders from space. Mind control by aliens ruined my credit on the cover of this month's National Examiner magazine

if that doesn't work try the honesty approach as others have suggested. NASA though can be very tough. Good luck.