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Credit Unions typically have a long memory and I wouldnt risk leaving any funds on deposit with them if you had a previous default. You may need to review their security interest clause because It may give them to right to take possession of the cash in your savings account for the prior delinquent debt and/or they wont bother loaning you any funds since you caused them a financial loss.
@srloring13 wrote:Credit Unions typically have a long memory and I wouldnt risk leaving any funds on deposit with them if you had a previous default. You may need to review their security interest clause because It may give them to right to take possession of the cash in your savings account for the prior delinquent debt and/or they wont bother loaning you any funds since you caused them a financial loss.
Hmmmm I would be surprised if a creditor could legally do this. Isn't there a Stature of Limit preventing this type of action?
It's called 'right to offset' and there is no statute of limitations as far I've researched. It was in the paperwork you agreed to when you signed up for your bank account most likely. Get a copy of it digitally if you can so you can search through it easier or get a paper copy and go through it to find out what you agreed to. It's great they haven't came after you for the money. Just know that they can at any time. I don't think a lot of credit unions would do this personally but a big bank may.
But I agree with the others saying that they'll definitely have history on you for your prior history with them. At least they've given you a second chance. A lot of people get blacklisted for 10+ years or longer.