Finances over FICO. If NFCU is going to work with you to get caught up. Take it. If you want to list out the accounts with Credit Line/Balance. We may have a way to get things back in order. Hopefully there are no lates or any other baddies as of yet.
@Anonymous wrote:Hello, we have a large amount of debt that is just mounting and we are basically overextended. I have navy federal and have spoken to their personal finance counselers. Is it a bad idea to do a program that reduces your interest and payment and freezes accounts temporarily? will this effect my credit negatively during the time they are frozen?
1. Have you asked Navy? I would ask them first.
2. As @FireMedic1 pointed out, if you were to list out your limits and balances, some folks here might have some ideas.
3. I have found NFCU to be the best in terms of serving their customers instead of themselves. So if there's any institution that can do it in a way that would be helpful, I imagine it would be them. I don't trust any financial institution, but I mistrust NFCU least of all of them.
4. The opportunity to reduce your interest and your monthly payments is certainly something to seriously consider, even if there are some downsides to accepting it.
