Got a statement for my credit union visa where I have my checking and savings accounts. This card was included in bk and is $1,378. Haven't made a payment since July. Called about it today and they said even though it is included in the bk it is secured through the other accounts I have there. My option was to continue to make the monthly payments of $35/mo or they will use the balances in my other accounts to pay it off. I have direct deposit and they said they have the right to take any and all of my account balances if I default on it. I guess this the cross collateralization I have read about here. Is this worth running by my lawyer or should I keep making the monthly payments?
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Filed July 2009. Discharged 08/08/2014. Awaiting closing. We made it !!!!
Woo-hoo! -
Get a new bank account. Move your direct deposits to the new account and walk away from the credit union. -
Just read post about car loan and cu further down. Similar situation. I have been doing buisness at this cu for 35 years and they are great people. Have had many loans through them and do not want to do buisness elswhere. I am glad they gave me the option to keep up payments. I did not want to include this cc in the bk anyhow, but the lawyer said they all have to be included. $35/mo isn't going to kill me and they will probably offer me credit after this thing is over.Filed July 2009. Discharged 08/08/2014. Awaiting closing. We made it !!!! Woo-hoo!Comment
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I'm confused, so what are you going to do about the credit card?Originally posted by andy158 View PostComment
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Just make the mininium payment for now.Filed July 2009. Discharged 08/08/2014. Awaiting closing. We made it !!!! Woo-hoo!Comment
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