     David Temkin (Dtemkin) | Wednesday, September 20, 2000 - 06:48 am 
I just got off the phone with my credit union. They've told me it's their policy that they'll continue to do business with me (write auto loans, etc.) if I reaffirm my accounts with them. Their whole "Once a member, always a member" motto sticks so long as they never take a loss on you.
Should I take their word for it, or just dump my accounts with them? |
| Mitch (Voigtkampff) | Wednesday, September 20, 2000 - 07:06 am
So far that has always been their stated policy, and so far they have always kept their word. I'm friendly with the bnk attorney for a few credit unions, and he says that as a matter of statute, the CU cannot take a loss and keep someone as a member. I don't know what else might constitute a "loss". |
| Christine Baker (Admin) | Wednesday, September 20, 2000 - 05:33 pm
Did David ask how they'll report his account? |
| David Temkin (Dtemkin) | Thursday, September 21, 2000 - 03:55 am
Christine,
I'd assume as a normal, paid account. We're not negotiating here - it's either I discharge it or not... and I think that having a credit union behind me for life may be a good idea (don't have to worry about ChexSystems, etc.).
-Dave |
| Christine Baker (Admin) | Thursday, September 21, 2000 - 05:25 pm
Dave, it's always best to assume NOTHING. We've argued here before over whether an account can be reported as "included in bankruptcy" while it has always been paid on time. Apparently that happens sometimes.
Also, ChexSystems is only a problem if you write bad checks, it has nothing to do with filing a bankruptcy. |
| David Temkin (Dtemkin) | Friday, September 22, 2000 - 04:21 am
Christine,
I meant that I'm going to keep my accounts current and re-aff them, so as far as anyone's concerned, either A) the original accounts are included in bnk, and they're opening two new accounts, or B) they don't touch them at all. According to the collections manager (who also handles all of their bnk stuff), they do B. Nothing changes so long as you re-aff.
As well, one of my discharges in chap7 is to Sovereign bank, for a few bad checks I wrote through them. You can bet I'm in ChexSystems now.
-Dave |
| Christine Baker (Admin) | Friday, September 22, 2000 - 11:14 am
Yeah, you might want to stick with the credit union then.
I'm curious though if discharging the bad debts would require the bank to change their reporting to ChexSystems. After the discharge you don't owe the bank anymore. If anyone knows, please post. |
