Bankruptcy, Credit Unions & Cross Collateralization Agreements By Arizona Bankruptcy Attorney John Skiba www.jacksonwhitelaw.com/arizona-bankruptcyCross Collateralization Agreement • March 16th, 2011
Contract Type FiledMarch 16th, 2011When times are good your credit union can be your best friend. When times are bad, your credit union may be your most aggressive enemy. Credit unions are different than banks in many ways, and when it comes to bankruptcy filings the loans they give and the credit cards they issue can present unique problems. Specifically, the cross collateralization agreements that most credit unions include in their loan documents can create real problems for you in your bankruptcy case.