DCU (Digital Federal Credit Union) no longer BK Friendly

[Epic]

Applied and was denied due to Chapter 7. No recon either. I was told you need to be two years post BK now.

[Amy26]

Well 2 years post BK is still BK friendly.... but definately does put a damper on my recommendations to them. Perhaps I sent too many BK people there!

[Pjmax]

Two years post seems ok to me. Considering there are so many that say no way until it drops off your report (10 yrs.) or worse, never after BK; I'd call that BK friendly.

[msm859]

Just approved last week for $40k 1.99% interest. Had filed just over 2 years ago 9/10. Said my fico score was 682. With those rates I think having to wait 2 years is reasonable.

[Logan]

just approved last week for $40k 1.99% interest. Had filed just over 2 years ago 9/10. Said my fico score was 682. With those rates i think having to wait 2 years is reasonable.

40k?

[msm859]

40k?

Yes $40,000

[Logan]

Yes $40,000

Was it an auto loan?

[msm859]

Was it an auto loan?

Yes

[Epic]

Two years post seems ok to me. Considering there are so many that say no way until it drops off your report (10 yrs.) or worse, never after BK; I'd call that BK friendly.

This is very true. DCU wouldn't even approve me for a secured card until two years out.

[Amy26]

It varies... I know people that get approved at 6 months out... I think it is highly situational and on a case by case basis.

[msm859]

It varies... I know people that get approved at 6 months out... I think it is highly situational and on a case by case basis.

Agreed. I got a $5k secured card 1 1/2 years after filing and my auto loan 8 months later.

[flowerchild]

I was discharged November 5th and applied for a car loan November 9th and was approved for up to $30K at 2.99%. Plus I was offered a visa with a $7500 limit. I didn't take the offer on the car loan because I chose a lease instead with GM. My 17 year old car was about to die and I was not about to invest one more penny into that hoopty so a vehicle had to be purchased.

But I believe that it has everything to do with how well your reports read. I worked on my report a good year or more before my discharge making sure that all was reporting correctly. I was spending so much money getting my car fixed every other month that I knew when I got my discharge I was running out to buy a car....which I did. So I can say that DCU has been great for me, but I highly doubt that they would have approved me with the way my report looked prior to me cleaning it up. It was just awful.