My husband’s work pays through a credit union which is a direct deposit. He and his dad took out a loan through his credit union for a truck and totalled out the truck and didn’t have insurance. Now his credit union is wanting the remaining balance on his loan in full because it is now an unsecured loan. The credit union is also holding his entire check so we don’t have any money. His mother thinks that they can go to the same credit union and take out another loan for the amount that he owes or go to his dad’s credit union to try to take out a loan for that amount. The problem is that his dad co-signed and the reason that he got the loan through his credit union is because his dads credit union wouldn’t aprove it. So would his dad’s credit union give them the loan to pay off the remaining balance since the loan isn’t with them?? I don’t understand how that would be possible…. please help.
Posts Tagged ‘credit union’
Hey guys/girls, just wanted some good advice. My FICO is around 620-650 and I was approved for 00 loan through my credit union. I’m paying it back within 3 months and they gave me a year. My question is: Would it be a good thing to keep taking these small loans and paying them back fast? Would it improve my credit faster than if I were to not take them at all? I currently have k worth of total debt otherwise, nothing else. Thanks ahead of time!
I have an unpaid payday loan from 2005. I thought I had taken out the loan using a check from a closed account & that was not the case. I did however wind up closing out my account after the loan was taken out. Actually, the credit union told me that they’d rather not do business with me anymore and it was at their discretion.