Let me start of by saying I had been with BECU for 10 years when this happened. I never overdrew my account, never missed a car payment to them or made one late.
We filed Chapter 13 almost 5 years ago (March 2012) and included a car loan from BECU in the CH13.
Our CH13 was finalized and discharged a few months ago, Mid April 2016 (Yeay!!!)
All of our debts were paid in full except -
- school loan from Navient, they had to write off 1200 bucks +/-
- BECU took a 800 dollar write off on the car loan (originally 25K)
So Mid april (we were discharged 5 days prior) I was siting in a training class for work when I got a TXT message from BECU saying a withdraw of 6K was made from my savings (All of my savings) and then another TXT saying 3500 from my checking had been withdrawn. I immediately freaked out and called BECU. After being on hold for 5-8 minutes and transferred twice with no one having aclue I finally got to the loss prevention department (bankruptcy side of BECU).
They asked me if i had a car laon with them. "Yes" I replied.
The BECU rep (was really polite and nice about it) Said that "In accordance with the BECU membership agreement, and that because BECU took a loss on our loan my accounts were all being closed immediately."
I asked "What about the 9500 dollars I had in the bank"
BECU " We will be cutting checks for the FULL amount you are owed and they will go out today"
I did get them to clarify that the full amount I was owed was what I had in my bank accounts (and not minus what they wrote off)
I did get checks for ALL of my money about 5 days later as cashier checks from BECU to me.
If you are in CH7/CH13 AND have a BECU product that they took a loss on, they WILL close your accounts the day you are discharged per their membership agreement.
I was not upset they did this, as I understand they have to protect their other members from loss, I was only upset they didnt notify me better the day of the event.
I DID get a letter 2 weeks later saying my accounts were being closed (Yes, 2 weeks later).
My wife went on a rant on BECU's facebook page about what they did and how it caused grief as she was in Target buying diapers and her card declined. The DID call me the next day after her rant and express their apologies that they should change the way people are notified.
All in All I still like BECU, great bank, nice people and good products.
Just want this to servers as a FYI to others so you don't get surprised.
2/2019 - EQ 789// TU 777 // EX 783 3/2016 - EQ 615 // TU 605 // EX 621 155k CC, 9 accounts.