Credit Union Credit cards and Debt Settlement
Date: Tue, 08/05/2008 - 15:32
Federal Credit Unions don`t settle well at all. That why no legi
Federal Credit Unions don`t settle well at all. That why no legit settlement company will enroll debt with them. FCUs typically will just sue you and garnish your wages. Plain and simple.
I hope you don't mind if I piggyback your question. How do they
I hope you don't mind if I piggyback your question. How do they handle DMPs? We have a credit card with them. Should I close our account with the credit union prior to entering into a dmp?
dmp won`t be a problem. You can still bank with them if you are
dmp won`t be a problem. You can still bank with them if you are doing a dmp.
Federal credit unions
So, is it your best advise just to pay the Credit Union CC in full and not even try to settle? Won't this make it harder to settle with the other credit cards if they see that I am paying one card and not them?
Quote:Won't this make it harder to settle with the other credit
Quote:
Won't this make it harder to settle with the other credit cards if they see that I am paying one card and not them? |
Not really. I wouldn`t suggest leaving out more than one card for a settlement program so it doesn`t look like favoritism. You should be fine leaving out just that account.
Credit Union Credit cards and Debt Settlement
ok, sorry I am confused. Are you saying that I should try to settle with the Credit Union so it doesnt look like favoritism (even though they won't likely settle)? If I try to settle with the credit union by not paying wont they just raise my interest, tack on late charges etc. and not settle anyway? Please advise.
No , Keep paying on the credit union account. Settle the rest of
No , Keep paying on the credit union account. Settle the rest of you credit cards.
Credit union credit cards and debt settlement
How can I find out if my credit union will do a debt settlement or not?
