I'm currently 5 months post chp7 discharge and was able to gain a membersip with Penfed. The only reason I applied for a Promise VISA and personal LOC is because of the success stories I've seen on these forums. However, I was denied for both products. One stated utilization of accounts, too many new accounts, and/or derogatoty record as reasons for denial, and the other simply stated bankruptcy. When I called and inquired about the decision, the representative said they flat out deny everyone who isn't at least 2 years discharged. He even verified this with a loan officier. I still emailed a recon and got this response back today
Dear Member,
You may submit a request for reconsideration with your explanation and documentation of the incorrect information by email by replying to this email, or by mail or fax to:
Pentagon Federal Credit Union
PO Box 70046
Springfield, OR 97475-0103
Fax: 1-800-278-2212 or 541-345-0512
If you wish to add an additional person(s) to the application, other than your spouse, please have that person go to the following link(s) to download and print a Joint Borrower Application and Consent form:
For joint borrowers that are non-PenFed members, please use this form:
https://www.penfed.org/Form-0004-B/
For joint borrowers that are current PenFed members, please use this form:
https://www.penfed.org/form4/
The completed and signed Joint borrower Authorization and Consent form must be notarized if the joint borrower is not a PenFed member. The completed Joint Borrower Authorization and Consent form should be submitted with your request for reconsideration to add a joint for consideration.
Please feel free to reply if you need further assistance.
Sincerely,
Lacey W.
Consumer Loan Processor
PenFed Credit Union
So, Im not sure what will come about from this recon.
