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Has anyone settled a debt with NFCU and then had a future with them in any positive manner? Just curious if I settle my debts with them if that means I am cutting all ties for good. I know its likely but hoping that theres hope.
@Anonymous wrote:Has anyone settled a debt with NFCU and then had a future with them in any positive manner? Just curious if I settle my debts with them if that means I am cutting all ties for good. I know its likely but hoping that theres hope.
Settling is a matter I do not know of. One needs to make NFCU whole on any loss incurred to be able to re-establish a relationship with them. There are success stories here on myFICO in that regards.
If you settle for less than full, you're done with them until you pay back the rest. No credit union will work with a member who caused them a loss.
Credit unions have a memory like an elephant and they will not forget a loss. A Credit Union is financed by the members and have no desire to do business with an individual that caused the mmebers a loss and that perosn is jsut a bad investment.
Banks have a ifferent mindset and they ar ein it for profit of late fees and etc.
So, No, I would never expect a relationship with a CU that you burned unless you paid them back 100% of the loss. Until then, it is a forever burned bridge.
Calling @Creditaddict . Any advice for the poster?
@Anonymous wrote:Has anyone settled a debt with NFCU and then had a future with them in any positive manner? Just curious if I settle my debts with them if that means I am cutting all ties for good. I know its likely but hoping that theres hope.
You can have bank accounts but unless you pay in full you can never have credit again.
I would really like to get back in with NFCU myself. My ex let the $3000 card I was an AU on get CO after we split. I had to include it in my BK back in 2016. I would love to get back in with them but I just need to come up with the $3k to do so.
It must've been a joint account authorized users have no financial responsibility and you would not have to file bankruptcy on it
OP, I was able to rebuild my relationship with NFCU after my accounts were closed after overdraft. You will need to pay the entire balance back at which point you can petition to reinstate your account. It's been a few years since I fixed everything but I have banking and several credit products with them. I wish you luck.