Credit Unions have a very loyal customer base. They are not-for-profit and owned by their members. As a result, they often offer lower interest rates. But there are some important differences between credit unions and banks regarding lending money. The Horrible Cross Collateralization Agreement Credit unions incorporate a “cross-collateralization agreement” in all loans except mortgages. …
“Dear Steve, I had a car loan through a credit union in Florida where I live..it was paid off in March of 2010…I also had a Visa through them, that went into default and was charged off…They refuse to release the car title..they sent the visa out to a collection agency, and the credit union …
Converting 13 to 7 and want to KEEP my Cars – All Loans Cross Collatorized Recently my husband and I filed a chapter 13 case and had been making payments with no problems. However, before going to the final hearing my lender on my second mortgage and 2 car loans is objecting due to cross …