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Navy Federal Credit Union is Abusing Me. – Maurice

Written by Steve Rhode

“Dear Steve,

15,631.60 unsecured loan with navy federal. I offered them 7000.00 to settle but havent heard anything back.

what can I do to get them to settle? $7000 is all I have and Im willing to give them every penny. the interest rate is 16%. and I have been paying on the loan since 2007 it was intially 17,000. its down to 15,631. I am being abused and I need it to stop. HELP!!


terrifying man

Dear Maurice,

I’m not clear how you feel Navy Federal is abusing you.

Is it possible you made late payments along the way or defaulted at some point and that caused additional interest, late fees and penalties to be added?

Are you current on the payments?

Do you have any other accounts there? Bank accounts? Car loan?

Do you know what your credit score is? If so, can you share it. If not, you can get it for free at Credit Karma.

Please post your responses and follow-up messages to me on this in the comments section below.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • Why don’t you just try to work out a payment agreement with them whit reduced payments or interests rate. A win/win for everyone

  • They won’t settle with you as long as you are current on payments. So you need to stop paying, save those payments, add it to the 7k you’re willing to drop, and give it to them when they are ready to settle with you.

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