Credit Unions: The Devil Is In the Details.

Posted on December 30, 2015. Filed under: Uncategorized |

northwestbankruptcyattorneys.com

piggy-bank-1047211_1280 (1)

Credit Union Customers love their credit unions.  They love the level of service that they get and they love the relatively low rates for loans and high rates for savings.  Much of this love is not reciprocated.  Credit Unions, if you are ever forced into a bankruptcy proceeding are fond of forcing reaffirmation agreements and enforcing their nearly ubiquitous cross-collateralization and future advances clauses.  These are things that you almost never have to worry about if you get your financing elsewhere.

Customers must beware.  If you take out a loan with a credit union because they offer you a great rate, beware of the details.  You will likely be signing a loan document that includes language allowing them to hold on to your title until you pay any other loan that you have with them.  If you are a credit union customer and you have a credit card through the credit…

View original post 327 more words

Make a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Liked it here?
Why not try sites on the blogroll...

%d bloggers like this: