chanaz

Because after they take it, he's still going to owe. I stand by my original statement. It's a 15 year old vehicle. After they take it, between tow fees, storage fees, penalties, what he still owes, (and the fact that it will sell in the hundreds @ auction. there is still going to be a balance. My original point was, that it was bought 12-13 years used. Which means he had a 3 year loan. Since he only paid on it for a year, after you add all of the incurred penalties, the remaining 2 year balance, the interest on the loan, (and the fact that it has mechanical problems) It's more under water than a house in Detroit. Clinging to it, is stupid. Even if he eventually does pay it off, he is not only extending the time frame his credit is potentially damaged. But with the money he ends up paying, he could probably buy 2-3 of the exact same Jeeps. I mean I'm not throwing stones here. Because I understand financial hardship. But the fact that he admittedly, collected unemployment after finding a job and started working, speaks volumes to me. IMHO, he's just trying to run some kind of scam. I mean thats a lot of stuff to go through for a 15 year old jeep, thats real worth a couple grand. To each their own, I'm just saying. He procured another vehicle, so it's not like he's in dire straights without it. Maybe he has some kind of emotional attachment to it. Who knows? But his reasoning, is severely skewed. Both financially, as well as in regards to his future credit.

First let me say, that this is in no way a personal attack. But in all honesty, you are not being very intelligent about the situation. You need to let it go. All you are accomplishing, in doing what you are doing, is extending the amount of time your credit is going to suffer. You seem to be under the delusion that your credit union won't sell off your bad loan. Because, as you put it" I don't see how a bank would pass off the collateral" First off, if you bought it new. (and I'm guessing you didn't) the thing depreciates every month. Secondly, if you bought it used (which I'm guessing you did (since the water pump would be under factory warrantee) do you really think that's going to keep a banker up at night? Eventually, what will happen, is your bank is going to freeze your account, take whatever money you have in it, write your loan off and sell the bad debt. After that, good luck on ever being able to register the jeep ever again. What you also fail to realize, is that the longer this ordeal drags on, the more penalties you will incur, and the more $$ it will cost you to resolve it. (and that will more than likely overshadow what the thing is worth anyway.) My .02, let it go.

The problem has never been that eligibility is ambiguous. It is actually quite clear. The problem has always been, that a long time ago, people who were not eligible, started trying to weasel their way in to NFCU. Some were successful, some were not. Those who were, decided to boast about it, and the madness began, and escalated to the point where people are either misinformed about eligibility, or don't care and choose to "roll the dice" Now granted, I blame the CSRs' for a lot of this. Instead of immediately denying ineligible apps, they allow them to go forward and let someone else deal with it. Either out of laziness, trying to get credit for a new account, or are just misinformed themselves. OP you are not eligible! And worse than that, I think you already knew that. Considering you admitted that you kept calling until someone said yes. "Playing Telephone Roulette", I think you put it. Why stop with just your grandfather being retired DOD? Why not tell them your Great Great Great Great Grandfather served in the Continental Congress. Sorry for the rant. But is quite simple. Membership eligibility is spelled out on the Website as well as in their printed literature. So if you were truly eligible you could either walk in to a branch, or join online. Or if that didn't work, you could come up with a good story and call the 800#

You people all laugh it up. But I bet it is a better bank than most people have. The city has a population of about 25,000 people and is in the middle of nowhere. The kind of place where everybody knows everybody, and where people for generations have probably been weary of banks to begin with. They cater to there community. I fail to see what is so laughable about that. Someone please enlighten me. That loan probably gave that MMA fighter the opportunity to pursue his dream. And I'm sure growing up out there with a strong work ethic and personal responsibility, made him a better risk than most of the jokesters posting here.

I'm looking at their website, and they still have an option for free checking without any requirements or monthly maintenance fees. I don't work for Union, but they definitely have some benefits. They're very well known for their customer service and stability. I'll echo what TheBanker said: Back in 2008 I moved a chunk of funds to Union Bank. The principal reason was credit rating. The bank's, not mine. Union Bank has good capitalization and less exposure to some of the marginal mortgage and commercial loans compared to most of the TBTF megabanks. They were also the source of my first reporting LOC, a small OD facility. I didn't know this at the time because I was completely ignorant of credit and didn't use any. Interestingly, they didn't even pull a credit report though they likely pulled Chex. If not for Union Bank and the small LOC they gave me I probably would have been turned down when I applied for a secured card a few months after that. At the time I had just learned about CRs and when I pulled it I had several CAs from utilities that hadn't been properly terminated when I had moved in 2003 not to mention a 3 y/o paid tax lien. Union Bank Pulls Chex and a soft EX to open an account. Pre-approves for credit products based on the soft. Then pulls Ex hard for LOC/OD & CCs' Not sure how I escaped a Hard pull but Union definitely did not do a hard pull from any of the three CRAs when they opened my checking/savings accounts. While the 1,000 OD LOC is small, it reports to all three CRAs and has no doubt helped my credit tons. At the time I didn't even have a FICO. Just old baddies. Maybe the guy/gal at the bank liked my smile. With certain types of accounts you are pre approved for the OD LOC for either 500 or 1000. It used to be that Managers could also pre-approve OD LOC for $500. I like Union Bank but its becoming more like Wells and B of A. Never knew that. When I opened an account a couple of years ago, they told me that they didn't pull a hard. Only Chex to open the account. And a soft to see if I was eligible for other products. After that he offered me a pre-approved Visa and a pre-approved OD/LOC. I declined the Visa but took his hard sell on the OD LOC. He couldn't tell me what the OD/LOC would be until I agreed to accept it. Once I did, he typed and in 15-20 seconds told me it was $2500. I went home, pulled my reports, and sure as day, there was an EX soft and and Ex hard. I personally have nothing against Union Bank. Loved it for 2 years. But I do agree they are becoming more like a big bank. Without the reach. I closed my account out when they did away with all the different checking accounts and merged them in to "Bank Essentials Checking" I'm tired of having to keep minimums in multiple banks. Or having to divide my money to make sure each bank gets his minimum DD. I will miss it as a regional bank. Was one of my favorites. But unfortunately, seasons change. On a side note, that OD/LOC did save my flowers once. I only had one other debit card on me, and needed a grand in the middle of the night. Unfortunately, that other debit card had a $300 Max per day. Union saved me by like 20 when I was able to take out $500 (had cash on me) Never did find their max withdrawal from ATM. But was happy heck when it ponded out that $500. I'm gonna leave it at that before I get all nostalgic and weepy.

I'm looking at their website, and they still have an option for free checking without any requirements or monthly maintenance fees. I don't work for Union, but they definitely have some benefits. They're very well known for their customer service and stability. I'll echo what TheBanker said: Back in 2008 I moved a chunk of funds to Union Bank. The principal reason was credit rating. The bank's, not mine. Union Bank has good capitalization and less exposure to some of the marginal mortgage and commercial loans compared to most of the TBTF megabanks. They were also the source of my first reporting LOC, a small OD facility. I didn't know this at the time because I was completely ignorant of credit and didn't use any. Interestingly, they didn't even pull a credit report though they likely pulled Chex. If not for Union Bank and the small LOC they gave me I probably would have been turned down when I applied for a secured card a few months after that. At the time I had just learned about CRs and when I pulled it I had several CAs from utilities that hadn't been properly terminated when I had moved in 2003 not to mention a 3 y/o paid tax lien. Union Bank Pulls Chex and a soft EX to open an account. Pre-approves for credit products based on the soft. Then pulls Ex hard for LOC/OD & CCs'

I'm looking at their website, and they still have an option for free checking without any requirements or monthly maintenance fees. I don't work for Union, but they definitely have some benefits. They're very well known for their customer service and stability. The following checking account types are no longer offered and will be replaced by union Bank Essentials checking. The terms and conditions of union Bank Essentials checking now apply to the following accounts. See account terms below. Free Checking 55 PLUS Checking Regular Checking Basic Checking Direct Check Banking California Account Checking https://www.unionbank.com/Images/UBC2875b_Personal_Fee_Schedule_Combo_CA_F_WEB.PDF

Union Bank just axed almost all of their different varieties of checking accounts. And they are now fee laden. Essentially, making them just like any other big bank. A sing of the times yes. But if you are going to subject yourself to the fees, you might as well go with a bank that has a presence in more than 3 States.

You can’t be serious. How many would purchase a house now if they knew it would only have 10% equity in 30 years? You missed the entire point. Obviously you are not buying with the thought that the value is going to go down 90% in 30 years. The point was that even if it went down 90%, you still have 10% equity vs. nothing if you rent. Not to mention a perpetual roof over your head, with dirt cheap taxes. I'd like to hear from people who followed DR's advice and bought houses with 100% cash @ the height of the boom. Unfortunately, they're all probably in their garages with the door closed and their cars running. Since they had no shot at any kind of a modification, partial loan forgiveness, or short sale. He certainly gives sound advice.

Vantage score is a crock too. I have Ficos in the 780 range. Clean reports no lates. 80k in unsecured cards and the rate me a C. I agree with Bommhower. It's becoming a ridiculous thing to stress over.

I might have had sympathy for him, if the guy would have sent the tube back. But just leaving it there for some poor lady (another customer), is really Effed up.

I'm not so sure that applies in OP situation. I was under the impression, that the right to offset couldn't be extended to $$ that was derived from Social Security Payments. Answers about the Right of Offset What can I do if my bank took Social Security money from my checking account to pay on a loan that I owe to the bank? You should contact your bank to inform them that the source of some or all of the money in your account was Social Security benefits. If you are a customer of a national bank and have questions about a bank’s right of offset, you can contact the Office of the Comptroller of the Currency, Customer Assistance Group, at 1-800-613-6743. As to the overdraft. Yes it looks to be with in the Law. But as to the Auto loan it doesn't seem so. OP call the # above to get the correct answer

I'm not so sure that applies in OP situation. I was under the impression, that the right to offset couldn't be extended to $$ that was derived from Social Security Payments.

While I'm sympathetic to your trouble and frustration. The real blame here doesn't lay with NFCU. It really lays with the thousands of people who have both successfully and unsuccessfully tried to join, and who were never eligible to do so. You can't throw a rock on this board, without hitting countless threads, filled with people trying to scheme their way in to membership they don't qualify for. From my second cousins, common law wife's brother in law's, adopted child, is in boot camp. To my great, great, great, great grandfather, used to clean up George Washington's horses chocolate @ Valley Forge. There have even been threads, where people admitted just blatantly lying. In hopes they would fall through the cracks and get in. Worse even, it worked for some of them. Or so they said. So just like a lot of things in life, the crap is handed down to the masses of honest, for the misdeeds of the few dishonest. It happens every day. Higher insurance rates (because people commit fraud). Higher retail prices (because people shoplift) The TSA feeling you up @ the Airport. The list goes on and on. I hope it works out for you. But I for one, am glad that they are at least working, to enforce their guidelines and standards.

Use one of the deposit options, then pay through your account. Although I have never done it, they have a way to make deposits @ most 7-11 stores. Do a search on their website under locations.