Returning to a FCU during a 13 ....

[Licoriceky2]

Question…

When we filed 13 we were banking with a credit union with both a checking and savings account along with a vehicle note and credit card. The credit union was pretty aggressive with the note on the vehicle and we ended up having not being able to crunch much of the note and paying the majority of the credit as they said it was “secured” by the vehicle.
So we quickly moved out accounts to another bank, a local banking group. Well now several years later, after implementation of new monthly fees at our bank in the amount of $120 annually, we are looking for a new bank…and my husband has brought up the idea of returning to the credit union as our experience prior to the bankruptcy was great.
So, would we be allowed back in? Should we return or stay away? We are around 15 months away from what we hope and anticipate will be a successful competition of the 13.

Thanks in advance!

[keepmine]

None of us can speak for your CU.
All you can do is apply for an account and see what they say.

[TXskyblue]

keepmine is right - no one knows what that specific CU is willing to do. One thing about CUs is "once a member, always a member" so you have that going for you.

I'm a little confused - did the CU actually lose money or did they sell the vehicle and not take any/much money? CUs are much more sensitive about losing money than banks are, so if they lost money then it's possible they will decline to open up a new account for you.

Are there other credit unions where you live? I have like 5 just within my smallish town.

If you really want to use the CU, my suggestion is to go to CU and ask to speak with a manager. Be forthright and emphasize how you are now more responsible, etc.

[mynameainttracy]

We also had a CU included in bk. They never took away our membership but they did revoke our online access making it nearly impossible to do any banking with them. They told us that once we hit the 7 year mark we would get it back. Will we go back? We already have for insurance but that's probably it.

[AngelinaCat]

When we filed, our CU, with whom 'Hub had been member for more than forty years, sent us a nasty-gram saying that our accounts would be closed as our financial malfeasance was harmful to the other members. This was after we had talked with them and explained our situation. 'Hub called again and talked to the BK department. It was explained that this was stand procedure. 'Hub wished to remain with them, and had always had good service. We had to reaffirm our car loan--we only had about 10 months left on it, and an overdraft account. After that, we were restored to good status and have had no problems since.

But every CU is different.