NFCU cap one credit cards please help chp 7

[Scupra]

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@SSH0126 wrote:

I called them again and this is what they said the would use the funds to pay the balance in full. so the funds would not be put back into my savings acct.

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I would ask a lawyer just to be safe. Make sure this isn't preferential. My head doesn't see it as you making a payment but as NFCU keeping your deposit. You have no access to those funds unless YOU paid the account.

[Anonymous]

I know this is a NFCU that,  but you're taking about 341 meeting.  We're meeting with our attorney on the 1st, but what questions are generally asked during the 341? I guess I'm nervous Just since I'm a planner and hate the unknown. Shoukd we go into the meeting just assuming the trustee will be a butthead?

[SSH0126]

we havent filed yet. not sure. I have been searching 341 and reading the posts. maybe you will find your answer there? I just started myself

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@Anonymous wrote:

I know this is a NFCU that,  but you're taking about 341 meeting.  We're meeting with our attorney on the 1st, but what questions are generally asked during the 341? I guess I'm nervous Just since I'm a planner and hate the unknown. Shoukd we go into the meeting just assuming the trustee will be a butthead?

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[Scupra]

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@Anonymous wrote:

I know this is a NFCU that,  but you're taking about 341 meeting.  We're meeting with our attorney on the 1st, but what questions are generally asked during the 341? I guess I'm nervous Just since I'm a planner and hate the unknown. Shoukd we go into the meeting just assuming the trustee will be a butthead?

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It will probably last about 1-5 minutes so try to relax now I was asked a couple questions about debts I included and done in around 3 minutes. A lot of us get worked up for no reason. Good luck and congrats

[SSH0126]

It has been noted that some that have burned cap one have to wait 1 yr to get back in 

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@jmclaughlin1982 wrote:
Credit union, credit union, credit union. They're awesome. They have something called a "credit builder loan." Basically they "loan" you an amount of money ( I took out $1000) which is deposited into a savings account. That money is blocked and you can't touch it. At the end of your payments (I chose 12 months) you get your $1000. Great option for those of us who don't have a thousand dollars sitting around to put into a secured loan.
I also put $1000 into a traditional secured loan. Same idea, but I'm using my own money. Finally, I HIGHLY recommend Capital One secured. They have a $29, $59, $99 card. Basically you apply and they tell you how much you have to put down. I got a $99 card with a $200 limit. I put an additional $200 in for $400 limit! And I burned Cap 1 on 3 cards I. BK.

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[SSH0126]

If i pay it down to 500 ish and then close it and let them take the rest ..this would be viewed as pref becuase its under the 600..correct?

[Scupra]

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@SSH0126 wrote:

If i pay it down to 500 ish and then close it and let them take the rest ..this would be viewed as pref becuase its under the 600..correct?

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Check with the lawyer. There could be different rules for different states etc..

[SSH0126]

Well the attrney said it is okay to close it and that the trustee will not mees with it

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@Scupra wrote:

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@SSH0126 wrote:

If i pay it down to 500 ish and then close it and let them take the rest ..this would be viewed as pref becuase its under the 600..correct?

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Check with the lawyer. There could be different rules for different states etc..

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[Scupra]

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@SSH0126 wrote:

Well the attrney said it is okay to close it and that the trustee will not mees with it

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@Scupra wrote:

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@SSH0126 wrote:

If i pay it down to 500 ish and then close it and let them take the rest ..this would be viewed as pref becuase its under the 600..correct?

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Check with the lawyer. There could be different rules for different states etc..

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BOOOOOOM! Now start thanking the stars above since NFCU will be an option for you to rebuild with.