2013 Blacklist Thread

[sjt]

I am starting this thread in hopes that we can all share information and/or experiences so we can all get more insight on lender’s Blacklist Policy.

Many lenders are inconsistent in their policies so the more information we obtain the more likely we will gain better insight to lender’s blacklist policy and how learn how we can get of those lists.

Please share the following information:

Lender Name:
How did you find out you were blacklisted and the  reason you were blacklisted:
If you applied for an account and denied for being on blacklist, did you request for recon:
What was the outcome:
Any other helpful information, i.e. how to get off their blacklist:

[enharu]

To get off the blacklist, paying back the debt in full will generally help. Not guaranteed however.

[azguy13]

USAA used to have a policy stating if you settled on a debt then you are no longer a member. However, this year they reversed that policy. 

[sjt]

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@enharu wrote:

To get off the blacklist, paying back the debt in full will generally help. Not guaranteed however.

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That not always the case and what happens when the sell the debt to a JDB and pay the JDB off in full?

[sjt]

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@azguy13 wrote:

USAA used to have a policy stating if you settled on a debt then you are no longer a member. However, this year they reversed that policy. 

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What is their policy now?

[azguy13]

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@sjt wrote:

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@azguy13 wrote:

USAA used to have a policy stating if you settled on a debt then you are no longer a member. However, this year they reversed that policy. 

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What is their policy now?

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I settled with them in 2007. When i did that, they closed my account and I couldn't rejoin. I called them in March and they explained that since the policy is no longer to cancel membership after settling, they re-opened my membership.

[sjt]

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@azguy13 wrote:

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@sjt wrote:

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@azguy13 wrote:

USAA used to have a policy stating if you settled on a debt then you are no longer a member. However, this year they reversed that policy. 

---

What is their policy now?

---

I settled with them in 2007. When i did that, they closed my account and I couldn't rejoin. I called them in March and they explained that since the policy is no longer to cancel membership after settling, they re-opened my membership.

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Good to here! Thanks for sharing.

[enharu]

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@sjt wrote:

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@enharu wrote:

To get off the blacklist, paying back the debt in full will generally help. Not guaranteed however.

---

That not always the case and what happens when the sell the debt to a JDB and pay the JDB off in full?

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That's the reason why I said it will generally help, though not guaranteed.

If that bad debt has been sold to someone else, you are not even supposed to pay the original debtor because they no longer have claims to that money. Some people were able to get back in during manual review by pointing out that they paid the collection agency in full. It really depends. My guess is that it has to do with the dollar amount you burned them for as well. The more you burn them for, the less forgiving they're going to be.

What they really want is to analyze the risk of having you as a customer. If you defaulted, but eventually paid them back, you will seem to be a lot more responsible than people who accrued debt and simply walk away as if nothing has ever happened.

[FinStar]

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@enharu wrote:

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@sjt wrote:

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@enharu wrote:

To get off the blacklist, paying back the debt in full will generally help. Not guaranteed however.

---

That not always the case and what happens when the sell the debt to a JDB and pay the JDB off in full?

---

That's the reason why I said it will generally help, though not guaranteed.

If that bad debt has been sold to someone else, you are not even supposed to pay the original debtor because they no longer have claims to that money. Some people were able to get back in during manual review by pointing out that they paid the collection agency in full. It really depends. My guess is that it has to do with the dollar amount you burned them for as well. The more you burn them for, the less forgiving they're going to be.

What they really want is to analyze the risk of having you as a customer. If you defaulted, but eventually paid them back, you will seem to be a lot more responsible than people who accrued debt and simply walk away as if nothing has ever happened.

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+1

Each lender's internal risk policies will vary and are evaluated/adjusted frequently and is not something that is set in stone for all applicants.  There are lots of variables at play which of course gives the perception/outcome of inconsistency and every applicant's situation is reviewed on a case by case basis.

[lithium78]

I burned Citi for a few hundred sixteen years ago and they have never forgiven me. Blacklisted. I had a paid charge-off with Chase back in 2003 and they haven't forgiven me for that one either. Blacklisted. Now life is peaches for me, but those two banks don't want to do business with me. Their loss.