Will NFCU Let Me Back In ?

[Anonymous]

I had a checking and savings account about 15 yrs ago with Navy federal.

I also had a $500 limit credit card and a $3000 auto loan ballance remaining

when I went through a bad divorce and defaulted on these accounts and

never paid them back.

I am finally past the divorce and back on my feet now.

Do you think NFCU would allow me back in as a member and

possibly approve me for a credit card account ?

I have good credit again these days.

any help would be appreciated.

[Kenny]

I believe they might. All you need to do to see what you have to do to get back in is call their member services department. When my sister wanted to get back in, they wanted her to repay what she had owed previously.

[Guyatthebeach]

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@Anonymous wrote:

I had a checking and savings account about 15 yrs ago with Navy federal.

I also had a $500 limit credit card and a $3000 auto loan ballance remaining

when I went through a bad divorce and defaulted on these accounts and

never paid them back.

I am finally past the divorce and back on my feet now.

Do you think NFCU would allow me back in as a member and

possibly approve me for a credit card account ?

I have good credit again these days.

any help would be appreciated.

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TacoManiac,

It is my understanding that NFCU will let you back in if you pay back your old debt. I would call them to find out.

Guyatthebeach

[Anonymous]

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@Anonymous wrote:

I had a checking and savings account about 15 yrs ago with Navy federal.

I also had a $500 limit credit card and a $3000 auto loan ballance remaining

when I went through a bad divorce and defaulted on these accounts and

never paid them back.

I am finally past the divorce and back on my feet now.

Do you think NFCU would allow me back in as a member and

possibly approve me for a credit card account ?

I have good credit again these days.

any help would be appreciated.

---

Are you asking if they will approve you back in as a member and give you credit products without first paying back what you stiffed them on?

If your asking will they forget and or forgive you for stiffing them, heal no. And they shouldn't. 

Pay back your debt and beg them to give you a second chance. I would if it meant that much to me.

[AllCredit]

You can ask them to confirm, but my understanding (as they told me) before be considered for any new products first they WILL require you to pay them in FULL.

[OldFatJarhead]

I can personally tell you...NFCU holds a grudge. I defaulted on a motorcycle loan with them in the late 90s after falling on hard times after my EAS. They reposessed the bike and auctioned it off but I had a remaining balance I never paid. They eventually garnished my wages. Whatever, I couldn't party hard for a few months but it wasn't the end of the world.

Fast-forward about 15 years to last year when I wanted to re-establish my accounts with them. I used NLSD for eligibility since they weren't allowing veterans to signup yet. I went to the branch to signup and they pulled up my info...blacklisted (my term, not theirs). I asked why, "because of an old motorcycle loan you didn't pay off.". I said, "but you guys did eventually get your money for that. You garnished my wages for several months and I paid back every penny." She told me I had to call the contact center.

I sat in the branch and called. The CSR pulled up my accounts and poked around. He had to call a few other departments because the loan was so old it was in a different system. Once they finally found it, they found it had an outstanding balance of $1.54 (or so. I remember it was less than $2) showing. Probably the interest that accrued during the last month of garnishment. In my case, the CSR waived the last of the charges and un-blacklisted my account and I was able to signup in the branch. I wouldn't hold out much hope for them waiving $3k, though. And you'd better believe...they still remember that it was never paid back.

[Tazman81]

If you still qualify for membership, then you can open deposit accounts (i.e. savings, checking, CDs, Money Market, etc.)

In order for them to entertain the possibility of you getting a credit product, you must pay back any money you owe NFCU.

[OldFatJarhead]

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@Tazman81 wrote:

If you still qualify for membership, then you can open deposit accounts (i.e. savings, checking, CDs, Money Market, etc.)

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It's worth a shot giving it a try, but for me, that wasn't the case. They wouldn't allow me to open anything. Over a loan from 1996 that still had less than $2 owed. Once that was cleared up, however, they welcomed me with open arms.

Also, they have the right to liquidate your share accounts to cover any losses on credit products (which is how people lose their memberships in the first place. NFCU takes the last $5 from your share savings, effectively closing your account.) So even if they did open a share savings account for you, I wouldn't expect it to stick around long.

[Tazman81]

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@OldFatJarhead wrote:

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@Tazman81 wrote:

If you still qualify for membership, then you can open deposit accounts (i.e. savings, checking, CDs, Money Market, etc.)

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It's worth a shot giving it a try, but for me, that wasn't the case. They wouldn't allow me to open anything. Over a loan from 1996 that still had less than $2 owed. Once that was cleared up, however, they welcomed me with open arms.

Also, they have the right to liquidate your share accounts to cover any losses on credit products (which is how people lose their memberships in the first place. NFCU takes the last $5 from your share savings, effectively closing your account.) So even if they did open a share savings account for you, I wouldn't expect it to stick around long.

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It depends on when you tried to open the account.  6 months ago, you are correct, they would not allow you back in.  But they just settled a lawsuit against this.  They cannot stop a member that qualifies for membership from utilizing deposit accounts if the credit union is not legally allowed to collect on those.  Now, certainly you want to be careful that if they can still collect on your debts and you open a deposit account, then they can sieze the deposit account in order to pay back the funds owed to NFCU.  Also, you will not be able to get any credit porducts without paying back what is owed.