Atl-Marcos

Looks like I can get it done at NFCU. THey do a non-credit check loan secured by savings.

5-6 years ago, I think I got a secured loan from Alliant credit union. I put down $500, then got a loan secured for $500 and then prepaid payments to get it below 20% balance and no payments due for a couple of years. What is the best way to do that today? I paid off my car and took a 20 point hit on credit score because of no installment loans. Does Alliant still do that? Thanks.

Totally fair. That makes sense to me. I'm not in a huge hurry, I was just wondering. I'm not in 720 range by any means. Will be lucky to break 700 in 2024.

To put the final bow on it. I was approved for the secured card once I explained thoroughly what I was asking for. Yeah I know the line's are smaller now. I have a line and my wife has a line with me as the co-signer. Both are $15k from 2017 I think.

So I reneged on some of my responsibilities in 2019 and had some CCs get charged off (no one cares about a sob story and it's irrelevant). I have since paid off or settled all my old accounts. I thought I wanted to buy a house, but now I'm holding for a while with the uncertainty of the market. I was just curious about BOA and Citi. My scores are starting to climb, and I'm probably not that far off of getting approvals for them all things considered equal. TU score of 670 which is the most recent score I've gotten. So, I burned BOA and Citi for $10kish a piece. However, they sued and got garnishments and got every penny that they were owed. What I'm curious about is are you blacklisted if they still got their pound of flesh? I owe them not a penny, nor did they lose a penny (other than perhaps attorney's fees). Just thinking about prime banks that I might have access to in 2024, and trying to make a plan. Also what about Chase, they were not PIF, but I did settle with them. I couldn't get an answer from them whether it would be treated differently if I PIF versus if I settled. Any help would be appreciated.

To tie a bow on this thread. I was able to call NFCU this afternoon. I was able to get the denial letter from them over the weekend. The reasons stated were 1. Delinquent Past/Present NFCU obligations. 2. Caused NFCU a loss. So I called them and said "Lucy you have some splainin' to do". Turns out they had not properly categorized my payoff. It was still marked as delinquent and not paid, even though there was a zero balance and it was PIF. They were able to remove the flag and stated there should be no reason based on my internal NFCU score that I would be denied. So she showed me on the app how to message for a recon. I should get approved for the secured card. TBH I could probably get approved for a non-secured card based on my internal score she hinted. But I'm fine with the secured line, and I plan no major things in which I'll need credit this year. To answer Hegemony's question. I already have a relationship at NFCU. On my credit report it only shows that I have $5k of revolving credit. NFCU can be very generous in their credit lines. And again it's more rainy day than needing great rewards. I like the peace of mind of having the double $15k CLOC that we have, I don't know of another bank that offers the same, although TBH I haven't really looked. Like others have said, I really like the customer service of NFCU, it does make a difference.

Useless. They just said wait for the letter. They can see that the card is PIF and that the car loan is PIF. There has to be something holding me back, but if they don't know what it is over the phone, I doubt the letter is going to provide any clearer detail. Annoying.

Mostly rainy day cards. Plus we want to get a better profile with NFCU for car loans and mortgages.

Interesting. That might be something I could consider. The Citibank/WF cards. Is that still current information. It looks like Citibank caps at $2500 and WF doesn't offer a secured card?

So I know NFCU blacklists you if you BK them off or don't pay off a charge-off. It appears that I have an unofficial blacklist even after they have been made whole. In Sept 2019 we ended up defaulting on a bunch of things. Specifically for NFCU they repoed a vehicle with $6k owed which they cross collateralized and got all their money at the time. I defaulted on an NFCU card for $24k. I kept two CLOC's for $15k a piece. They are still in good standing with a zero balance. Recently I paid off the NFCU card in full in January as I wanted to get back in their good graces. So to recap: Car Loan- repo, PIF CC- Chargeoff- PIF CLOC - $0 balance, good standing CLOC- $0 balance, good standing My current status is 621 score (Experian) through their credit score monitoring. My income is just shy of $500k, although I only run about $200k in direct deposit through NFCU. I have $30k in cash in different accounts at NFCU. $5k in savings. I tried the pre-approval page and it listed basically everything. But I wanted to play it safe and just use their secured card which graduates anyway and I'm not in a huge hurry. Insta denied. I don't know what else I have to do, everything is paid off, and paid in full. I didn't BK. I don't owe them a single penny, and I have multiple accounts in good standing. Any ideas? Should I call to get it reconned? Thanks! P.S.- On a side note, would BOA be a good second choice for a secured card? I did burn them for a $11k card, which they got every penny back through a garnishment. So they are paid in full. I run the other $300k of income through BOA, so I know we've got a pretty good status there. We probably have roughly $50k with them. My credit report has a bunch I burned in 2019. I paid them all off in full in late 2022/2023. I still have 10 year old credit cards that I didn't burn Capital One, Discover and Barclays. Scores range from 610-621.

Thanks Centex. I think they all still own the accounts. I'm still getting letters from Chase from time to time, etc. Took me a couple of years to really get my feet under me. It's been mentioned on this board that NFCU likes it if you make them whole, and the CSR definitely talked about if you make them whole they treat you credit wise like any other customer, meaning your score is what can get you new products. I have 2 products that went bad on NFCU and 2 that I kept in good standing. I hope that it works out, but I'm not desperate if it doesn't. We went through some bad times financially and medically. We're in a completely different place today, and well able to pay our debt off. Another question- Citi did a garnishment on my wages and they were paid in full, any idea how they will treat that? Am I still black-balled? Thanks again

So, I've already done the Amex thing where I paid off my card in full and they gave me new credit card with a limit of $1k. That was really smooth. I have questions about the following banks: BoA Citi Chase NFCU So I paid in full BoA, and Citi through judgment and garnishment. They have a zero balance now. I talked to NFCU and if I pay my credit card off in full they have seen people apply and get approved for a loan/credit card/mortgage the very next day. So I think that's a clear win to pay them in full. Chase I could afford to PIF as well. I don't know what their policies are, I know they have a hard black-ball. But are they more lenient when you have PIF and made them whole? Thanks for any insight.

I thought I would follow up on this post. So it's been a little over two years now since my date of first delinquency. I've been sued and garnished by multiple lenders. Citi sued and got a garnishment for $10k that has since paid off. BOA sued for $12k, it's currently being garnished now and will be paid off in April. SOFI is suing me, although I don't know if they will garnish- that one's for close to $34k- at a garnishment rate of $2.3k a month that will be a LONG garnishment. And Synchrony is suing for a couple of $2.5k balances. Then currently I have two balances with Amex, two with chase and a CC from NFCU for around $38k in addition to the above. My income has radically shifted as I've taken on some additional work and am now closer to $500k of income from my previous $180k and way up from my loss of pretty much all income for a short time there. The extra income is in the form of 1099 work and not able to be garnished(I think), and my spouse working, they are only garnishing my $150k of primary income. We've paid down the CLOC from NFCU which get paid off next month. We've paid off around $50k of debt that was current from myself and my wife. And put some money in savings plus increased retirement accounts for both of us. My question is, given higher than normal income, yet a fair amount of outstanding debt. What is the best way to handle this? I'm assuming the BOA one, there's no point in negotiating for a lessor payoff because they know they are getting paid. But could I make a settlement with SOFI or Synchrony. Assuming I could get payment arrangements at roughly 30c on the dollar. I could pay off most of my outstanding debt for around $23k. I'd do that if I could and just get this behind me. I have offers for payoff of the Amex, Chase and NFCU. But SOFI and Synchrony are pending judgment. My current score is 590 (non-fako). Would it be possible to wrap up the garnishments, make the payment arrangements for the outstanding debt and then qualify for a house by the end of 2022. Assuming I want to buy a house for around $400k, income is around $500k, downpayment of 20%. I believe as long as there are no collections I should be clear to get a FHA loan. Any advice on how to proceed?

SOL sucks it's 6 years and I'm only a year in. Understood on the CO accounts. That's kind of what I figured it's just about time, I didn't see that paying them or settling them actually helps. And with 10 bad collection accounts even if I managed to PFD 2-3, the 7 I couldn't would outweigh the ones that played ball. I haven't tried goodwill letters, I'm just now trying to get my finances back in order. I haven't paid off the credit lines because I'm worried that they will just close the account. My thought process was to keep the balance for the first two years that most of the damage is being done with the new CO accounts and then after I cross that two year barrier pay them down. I don't "need" credit right now. Just looking towards the future. What I don't want is to pay Discover off for instance and them close the account down or set the limit to $300. I've watched the score go from a 480 when everything hit back last October now up to 530. So maybe I'm gotten past the initial credit score shock so that paying the debt down won't cause them to close down the accounts? That was why I was holding off on paying them down. While maybe there's 10 points hidden in there somewhere by showing zero balances, it's not likely that I'm going to go anywhere close to 600 by paying them down. And of course I have no interest in paying NFCU down if they are just going to take that money and pay down other accounts. That's a good idea. It's probably getting pretty close to where they will start to pursue these types of avenues now. Don't believe I could qualify for a BK7, I'm working again now. HHI close to $200k.

So as many people on here I've gotten myself in a bit of a bind. Not going to really go too deep into the details, medical issues, no income, extensive hospitalization, etc. Using credit cards to pay medical bills and such. The long and short of it is around 10 accounts went to collections totalling around $89k in debt. Last payment made was September of 2019. The smoke has kind of cleared now and everything is in collections. I still have 6 accounts in good standing with no missed or 1 missed 30 day payments. My credit score is a 530 according to Barclays(higher than I thought it would be). Here's what I show right now: Discover - $2k limit $1,500 balance Opened 2015 100% on time Cap 1- $1.7k limit $1.5k balanced Opened 2011 100% on time Barclays- $500 limit, $0 balance Opened 2016 1 30 day dlq NFCU LOC - $15k limit, $15k balance Opened 2016 2 30 day dlq NFCU LOC - $15k limit, $14k balance Opened 2016 0 dlq BoA Auto Loan - $17k original, $8k balance Opened 2017 1 30 day dlq I could probably increase the score by paying off some of my credit owed as it's not that huge of an amount but maybe not due to the recency of the delinquencies. I'm more worried that they are going to drop credit limit if I pay them down or close the accounts altogether. And of course there is SOL and court to consider as well. The NFCU LOC is so bothersome. Whenever I pay any of it down they just take out payments for a vehicle they repossessed while I was in the hospital. Just not sure what path I should take. It just seems like time is all I have. Not sure it makes any sense to pay off any debt that is in collections as there doesn't appear to be any benefit. Health stuff is mostly resolved, and working again with almost $200k in income so of course them suing me is quite likely. So is it just a matter of waiting for the delinquencies to get older? Does pay for deletes still actually work, and would it even make sense given the breadth of all of my bad accounts? How long does it take to go above 600? 2 years after first delinquency? 5 years? The full 7 years?