Our auto was totalled in an accident in 2012, and an insurance check was deposited for about 95% of the loan. A small balance of $350 was still due after the insurance. We received a letter from the credit union saying that a payment was not due until 9/302013 for the balance.
When a payment was not made on the next normal payment date, they started collections. At 120 days they filed it against our credit report. We filed a rebuttal, sent a copy of the letter to the bank, and they refused to change the report. Our stellar credit report of 795 was downgraded to 726 because they made a mistake, then refused to correct their error. Do you really want to take that risk with your credit? You will be if you take any credit cards or loans from MSUFCU! I won't make that mistake again.