Legal Question in Credit and Debt Law in California
Is it legal for a credit union to refuse your car loan payments when you have stopped paying on a credit card with them?
Asked on 6/21/12, 4:06 pm
1 Answer from Attorneys
Michael Grennier
Grennier Law, PC - #1 Bankruptcy Filing Attorney in Ventura County
It is very typical for credit unions to "cross-collateralize" debt. Each debt is secured by the other. I have recently written a blog about this on my web site at nopainbk.com Please take a look.
Answered on 6/21/12, 6:33 pm