Navy Federal post-BK

[Raider_Dave]

I have a discharged Chapter 7 Bankruptcy that is now more than 2.5 years old. I burned Navy Federal in it and am not proud of that. I am not trying to get them to lend to me but I do have a question about their banking policies after you have not maintained accounts in a satisfactory manner. I know Navy Federal holds lifetime resentments against people who burn them, which is why I’m surprised they even let the door open a little.

It took until recently for them to even let me sign up for online banking. After I defaulted in Bankruptcy, all my accounts got closed except my Share Savings and they even took the $5 required by bylaws but did not close the account. I continued to receive paper statements. On a whim, I tried to sign up for online banking and it worked recently. They even let me open a new checking account with a debit card.

However, my features are limited and I get the “this information is not an attempt to collect a debt” every time I login. I cannot transfer between accounts, I cannot log into the app, they obviously will not trust me with overdraft protection.

My question is, will they ever loosen these restrictions? If I ask, will they oblige? Truthfully I am a little afraid to call them lest they say something like, "you weren't supposed to be able to have that at all." I am mostly interested in using the app. My credit is good again (above 700 all 3 bureaus) but I obviously have a BK and my ChexSystems is fine. I have other bank accounts and my main ones are at a local credit union. Any advice appreciated.

[OmarGB9]

I'm not sure if they'd shut down your existing checking/savings accounts, but if you want to get back in their good graces, you'd need to pay them back. Although, I'm not sure how it works when it comes to a BK, since, legally, they can't ask for you to pay them back. I'll defer to others on that.

[CreditInspired]

---

@OmarGB9 wrote:

I'm not sure if they'd shut down your existing checking/savings accounts, but if you want to get back in their good graces, you'd need to pay them back. Although, I'm not sure how it works when it comes to a BK, since, legally, they can't ask for you to pay them back. I'll defer to others on that.

---

^^^ this

OP, until NFCU is made whole, there is slim to no chance of getting back in. If the amount you owe is very small, you could always call and ask about repaying the debt. However, if it is large, you have to ask yourself how bad do you want to get back in, especially if you already bank with other CUs. 

[Tazman81]

If you still qualify for NFCUs field of membership, then after your BK is discharged, you should be able to re-open any deposit accounts with them.  You should also be able to utilize the website and the app without restriction.  The only thing you will notice is that banner indicating that it is not an attempt to collect a debt.  The below thread is locked, but you can see my experience with NFCU.  As others have said, you will not be able to get any credit accounts with the exception of a SSL.  You also cannot get a secured credit card based on my past experience.  After my BK7, where I burned them for about $40k, I have every deposit account with NFCU including multiple checking, savings, MMSA, CDs, Roth, & Roth CDs without any restriction.  The only thing I am not able to get is a credit product.  I am blacklisted as it typically just auto denies me with a statement "you caused NFCU a loss".

Here is a detailed account from quite a few years ago, but have seem multiple others on the site with deposit accounts after including NFCU in BK.

https://ficoforums.myfico.com/t5/Bankruptcy/Navy-Federal-Credit-Union-NFCU-After-Including-in-Bankru...