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Hi Everyone,
I had an account with penfed which I unfortunately had to let go into CO status about a year an a half ago. I am back on my feet and clearing up a few accounts that I messed up. But wondering once I pay them off, if I'd be able to apply again. And how long I'd have to wait.
They sold my account to a collection agency and report to the CRAs as zero balance but CO status. Does penfed have a blacklist similar to other banks? Does anyone know if I'll be banned from them for 5 maybe 10 years? I hope not....
Thanks!
What kind of account was charged off with PenFed?
I don't have an answer to your specific question.
In general, with credit unions, you will have to make them whole on the loss incurred. I don't know if PenFed will consider offering credit or loan products after the debt has been paid in full.
Hopefully, other members can advise.
No clue either but doesnt sound promising. Recent burns for any lender usually have consequences, unless they are Capital One.
@AllZero wrote:What kind of account was charged off with PenFed?
I don't have an answer to your specific question.
In general, with credit unions, you will have to make them whole on the loss incurred. I don't know if PenFed will consider offering credit or loan products after the debt has been paid in full.
Hopefully, other members can advise.
I apologize, I left that out. It was a credit card. Promise Visa.
I quick search using "PenFed Charge Off", yielded these results:
https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Does-PenFed-reverse-charge-off/m-p/5862322
https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Possible-Win-PenFed/m-p/5846734
@AllZero wrote:I quick search using "PenfFed Charge Off", yielded these results:
https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Does-PenFed-reverse-charge-off/m-p/5862322
https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Possible-Win-PenFed/m-p/5846734
Thank you @AllZero I appreciate you searching that up!
@Creditjunky37 Good luck! Report back on your journey.