My Creditor is Helping Me Thread. #TeamMyFICO

[FireMedic1]

Finally got caught up since last visit here. Great job guys. Glad to see its working for some. Thanks to all who have contributed so far. This forum rules. The others? Well. Drools. #TeamMyFICO kicks some major hind ends. I mean ass!

[Remedios]

About BECU loan

If you go for it, third step is picking whether you want to use "existing application", or start a new one.

The existing application only refers to some info being already prefilled, and not having to sign again. 

Per my chat with CSR, DO NOT use that option as it "creates confusion" in terms of APR (regular APRs, different terms attached to it). 

So, use "Start New Application". 

[SouthJamaica]

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@Anonymous wrote:

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@SouthJamaica wrote:

Alliant Credit Union is offering 3% APR emergency loans up to $5000 to members and, believe it or not, former members. User friendly online application, TU hard pull.

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Well it's not actually 3%. It's a 3% discount off their normal rates. So you would be looking at 3.24% to 6.24% depending on the term and there is a .4% hike if you don't have it on autopay. Still a great offer for people who can use it though. 

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Thanks for correcting me.

[SouthJamaica]

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@tussking wrote:

Update: NFCU Emergency Loan approval - $5000/24 months @ 6%. 60 Months is not available. 1st payment is deferred until July. The approval took 20 mins.

Also applied for Alliant's emergency loan...I'll update asap.

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I guess NFCU changed its policy in 1 day, because mine was approved for 60 months. My approval took around 24 hours, though, not 20 minutes. Maybe they decided to stop reviewing them carefully, but to shorten the loan term.

[masscredit]

A few people asked about DCU. A friend contacted them to see what they can do for her auto loan. She should hear back in a day or two. I'm going to contact them after I find out what they do for her.  I'll let you know how that goes.

[Anonymous]

Hey everyone. I was looking through my auto loan with Capital One and noticed that they added a link on the auto loans main page. It asks if you are impacted by the Coronavirus. If you select yes, it is giving you the option to apply for an extension of 1-2 months to skip your next 1-2 payments. The terms say that interest will continue to accrue during this time. Maybe this will help someone out there.

[Anonymous]

This is especially helpful, since the wait time for phone calls is around 4hrs... 

[AllZero]

Thank you for sharing the news.

@FireMedic1   https://ficoforums.myfico.com/t5/Credit-Cards/My-Creditor-is-Helping-Me-Thread-TeamMyFICO/td-p/59574...

[Brian_Earl_Spilner]

Thanks for the dp. I requested for a mod to move it into the thread mentioned above to keep it all together.

[Anonymous]

From Security Service Federal Credit Union

You are receiving this email because you have one or more loans with Security Service Federal Credit Union. We recognize that many members may soon have difficulties paying these loans on time given the negative impact of the COVID-19 pandemic.

SSFCU IS OFFERING DUE DATE EXTENSIONS Effective April 1, 2020 on most loans for most members

Payment Relief is available for mortgage loans, automobile loans, credit cards, personal loans, lines of credit and possibly for member business loans. Automobile and Personal Loans1... if your loan(s) are current (not past due by more than 30 days), 90-day due date extensions are automatic and pre-approved. (See below for details.) Credit Cards2… if your credit card(s) are current (not past due by more than 30 days), April payment extensions are automatic and pre-approved. Member Business Loans may also qualify. Please call (866) 397-4480 to determine eligibility. Past Due Loans… if your loan(s) are more than 30 days past due, payment extensions might be provided after a phone call with our service representative; for Auto & Personal Loans please call (855) 635-7535, for Credit Cards (855) 635-7536. Mortgage Loan extensions are readily available but require a short phone conversation with a servicing representative at (866) 557-5657. Don’t Want or Need Payment Relief? If you are not seeking loan payment relief, simply continue making your payments normally and disregard this email.

We are attempting to make this simple and easy for everyone, but, of course, there are details to consider:

Importantly, this is temporary assistance and not debt forgiveness. Please only use the payment relief if you REALLY need it because all amounts will ultimately be due and interest will continue to accrue during the deferment period.

Automobile and Personal Loan1 Details:

The 90-day extension includes April, May and June payments for 2020; BillPay and/or automatic payments from Security Service or other financial institutions will continue to be processed unless you cancel them; If you have auto-debit payments, your payments will continue to be posted to your loan unless you call us to suspend payment. An auto-debit is a payment that was set-up by the auto dealer or credit union on your behalf and not a self-directed payment such as BillPay or automatic payments. Please call (855) 635-7534 to suspend your auto-debit payments; Automobile loans on your business account are included.

Credit Card2 Relief Details:

The extension includes April 2020 payments for accounts not currently past due by more than 30 days; BillPay and/or automatic payments from Security Service or other financial institutions will continue to be processed unless you cancel them; Business credit card accounts are included.

Share Certificate Details:

We are temporarily waving the early Share Certificate (CD) withdrawal fee; to access your funds early please call (800) 527-7328 or visit your nearest branch.

I hope that this information is useful as we all attempt to successfully navigate through conditions that we expect to be difficult. We are a credit union. Your credit union. We exist to provide beneficial financial solutions to you and all of our members. Perhaps this payment relief program will help.

I have to say I like SSFCU a little bit more than I did previously after seeing this. Automatic extensions are a lot more convenient than calling.