as a general statement you can count on every credit union denying you credit and possibly membership if you have a lot of bad debt elsewhere. CU's focus on member/owner needs and safety and as such are risk averse institutions.
you say:
Re: Adverse Action Creditors
Sorry for not being clear enough.
-I'm current on about half my accounts
- My plan is to offer settlements on the ones I have no choice but to default on
- Utilization is sky high around 120% due to some closed accounts still being paid down that I'm also keeping as they are on a low minimum hardship plan
-The ultimate goal is to settle the defaulted ones but keep a few tradelines with positive history for the rebuild
this sounds like you don't believe you can pay down these debts or pay off what you owe, It also reads like you have been struggling under this weight for a while already.
without knowing your numbers, balances, how long you have been not paying them , i would ask you to do a personal analysis and really look at the benefits of bankruptcy. Check both 7 and 13. I am not a bankruptcy attorney or anything like that, but the reality is a bankruptcy stays on you report for 7 years BUT the day you accounts are discharged you can get new credit. The key is to not burn any of the major card systems like Amex , Chase, Discover or Cap 1 if you can help it. If when you go bankrupt you don't burn them you can usually get back in relatively quickly. if you burn them forget about them for a decade or forever.
Your plan however can hang on your credit much longer than the 7 years.
I suspect most people would prefer getting the pain over quicker, but that is for you to decide.
it is unclear if income is the problem or just not paying. If income is the problem then please please please look at getting a second job. Everything from Door Dash to online work checking AI results can bring in an extra couple thousands a month depending on you motivation.
Do not tell me it is impossible unless you are in a full body cast, iron lung or are just a head in a jar. You can do whatever you are motivated to do. if your response is I work hard and need my rest and personal time or I have kids so I can't. Then i just don't care because those "reasons" are just excuses to be a victim. you can do whatever you prioritize doing. you can find the legal solutions and taking on extra work is that most adult thing to do.
