You could also have car finance with credit union. Or a charge card.

You could also have car finance with credit union. Or a charge card.

If you believe that the situation is serious sufficient that you might have to start thinking about filing a bankruptcy, you ought to avoid taking out fully loans with credit unions. The reason behind the reason being all credit unions cross collateralized their loans.

Cross collateralization? More legalese! (Sorry- you must know these items.)

Cross Collateralization is legalese when it comes to procedure through which credit unions connect the security they will have for just one loan to all the of this other loans or charge cards you might have using the credit union. Continue reading «You could also have car finance with credit union. Or a charge card.»