# Opening a New Credit Union Account after bad Debt.



## pudds (15 Nov 2012)

Friend of mine when living down the sticks took out a loan from local c.u. but got into difficulties and was allowed to pay back the capitol over time to clear the debt.

Eventually the debt was cleared, approx 8yrs ago.


If he now applies to open an account with his new local c.u. will this just bring up a lot of questions and bad memories that he would much prefer to forget.


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## Time (15 Nov 2012)

It shouldn't be an issue.


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## itsallwrong (15 Nov 2012)

I am sure they will gladly take his money but if he looks
for a loan, even after 8 years, they might dig up the past.


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## Time (16 Nov 2012)

It should be off any records after 6 years.


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## Slim (16 Nov 2012)

pudds said:


> Friend of mine when living down the sticks took out a loan from local c.u. but got into difficulties and was allowed to pay back the capitol over time to clear the debt.
> 
> Eventually the debt was cleared, approx 8yrs ago.
> 
> ...


 
If he has moved to a new area, it most likely will not be a factor unless it went on ICB years ago(and didn't come off it) which I doubt.


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## pudds (17 Nov 2012)

thanks lads.


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