Navy federal “you caused a loss”

[Anonymous]

Hi
Im new to the forum and was hoping to get some advice on Navy Fed.
My nfcu checking went into collections while i was overseas. It ended up being a charge off. As soon as i got back, i walked into the branch and paid in full. My current eq is 753. I applied for a auto loan for 70k . My income is almost 200k per year. I was declined. Than i thought what the hell and applied for the cr visa. Went under review and 1 hour later approved for a 15k limit.
I recieved a letter in the mail saying the reason my auto was declined is because i caused navy federal a loss.
But i paid them in full. And they approved me for a unsecured line of 15k
Is it that maybe the consumer loans dept does not see the the updated pif on my checking account. I keep a balance of over 10k in at all times.
Any advice, they dont tell me much on the phone. Should i go into the branch and and ask them to remove any flags ?
They said the hold any credit report for 30 days so its not a hp everytime you apply for a consumer loan as long as its in that 30 day period ?
Any advice woiluld be awesome

[CreditInspired]

I suggest sending them a secure message asking for reconsideration on the auto loan and say because not only were you overseas when your checking acct went into collections, but as soon as you returned to the states, you rectified the situation. Tell NFCU how much you love banking with them and you hope that they take your repayment of the loss into consideration.

GL2U

[Anonymous]

I did send them that in the secure message attached to the app. It was still declined. I know its the weekend and they may not have access to the repayment information.
I was thinking maybe going into the branch and speaking to a loan officer and seeing if we can get it straightened out. The crazy thing is why would they give me the unsecured cash rewards for 15k and declined the secured auto loan.

[CreditInspired]

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@Anonymous wrote:
I did send them that in the secure message attached to the app. It was still declined. I know its the weekend and they may not have access to the repayment information.
I was thinking maybe going into the branch and speaking to a loan officer and seeing if we can get it straightened out. The crazy thing is why would they give me the unsecured cash rewards for 15k and declined the secured auto loan.

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It may be like you said in your first post—2 different departments. Yep,

going into the branch sounds like a good idea. 

[Anonymous]

Definitely go into the branch and talk to someone, however note that denial reasons are often random and not accurate.

It's quite possible there is another reason they don't want to approve you for a jumbo auto loan. The amount itself, your DTI, etc.

[Anonymous]

How did this turn out?

[Anonymous]

You're on NFCU's black list. They did the same with me after I included an auto loan and a credit card in my bankruptcy. I tried numerous times to get back in with them, even though I still bank with them, they refuse to lend to me. If you burned them with 1 cent, they'll still blacklist you and it's a permanent decision. They wouldn't even give me a secured credit card to borrow against my own money. "Serving those who serve" LOL RIGHT. 

[Anonymous]

Curious, the OP stated that they paid back the money owed, are you stating that you did the same thing and they still won't lend to you?

Not trying to get into your business, just wanting to make sure we are compairing apples to apples.  I had an ex that included a joint acct in a BK in 94.  I just found out and paid them the whopping 150.00 this past Feb, I've got a checking and a savings but haven't pulled the trigger on a credit product.

I won't if people are paying them back and they still won't lend.

Appreciate it.

[AllCredit]

OP, I'm also curious on how this turned out, did recon via in-branch help change the decision or provide clarity on the decision?

@NavyChief52, I have read stories on here of people PIF and being able to get back in with them, some relativily quickly, like 2mths after paying.  I too paid back NFCU, but I have not pulled the trigger on applying for anything...yet.

[Anonymous]

I went into the branch
Had them remove the flag from with the collections dept
They said since i have paid in full i was good to.
Approved yesterday
80k auto
25k platinum visa
15k cash rewards