SherryCherry
Junior Member
What is the name of your state?FL
I have a question about CU's and cross collateralization. We signed up for a credit card with our CU in about 92, and in 2002 got a car loan from them. I have read my loan paperwork from the car and there is NO mention of cross colleralization but I don't have the credit card paper work (who saves that crap, I mean before something like this happens). What kind of recourse do we have if we weren't aware of the clause? I have my attorney working on this, and I know it takes time to get the paper work from the bank but I really would like to put my mind to rest. Will I have to return my car to the CU? We were trying to reaffirm the loan but as I said they seem determined to get ALL of their money. I know they are in the money business and I am the one that defaulted. I feel like public enemy #1!
I have a question about CU's and cross collateralization. We signed up for a credit card with our CU in about 92, and in 2002 got a car loan from them. I have read my loan paperwork from the car and there is NO mention of cross colleralization but I don't have the credit card paper work (who saves that crap, I mean before something like this happens). What kind of recourse do we have if we weren't aware of the clause? I have my attorney working on this, and I know it takes time to get the paper work from the bank but I really would like to put my mind to rest. Will I have to return my car to the CU? We were trying to reaffirm the loan but as I said they seem determined to get ALL of their money. I know they are in the money business and I am the one that defaulted. I feel like public enemy #1!