Credit Union Threatening Car Repossession Due to Credit Card Debt

[americanwoman1]

My question involves a banking matter in the State of: Florida
My credit union is threatening repossession of a car. There are two debts in question. The car was purchased through a personal loan secured by the car itself. The car loan is current. The credit card issued by the same credit union is two payments behind. I have been told by their collections office, both verbally and by letter, that the car may be repossessed because credit union laws allow cross-collateralization. Does anyone know if this is legal? I have been told that this not legal but the credit union assures me that they have the right. I have read the language of the credit card contract and it is confusing to me. The credit card paperwork was signed a couple of years prior to the personal loan for the car. I have gone all through the personal loan contract and cannot find any language referring to cross-collateralization. Need help!

[divemedic]

Credit unions routinely cross collateralize their loans.

[amgsmith]

I have a car with FLorida credit union and they put my credit card bill on the car. Making the car not even close to what its worth. Then when i got behind 30 days they would send a tow truck to the house and charge me $250 every month and add it to the bill and didnt tell me this until they repoed the car last week... The car is not running and was being repaired when they repoed it leaving half the car at the shop.... I checked with local auctions and they stated the car will sell for around $700 and i owe over $12,000.

Can I get the credit card balance removed when we go to court or lowered with the new obama laws about 40% of the balance settlements? Or is there anything i can do about the deficiency they plan on going thru with?

They told me that Florida Credit union doesnt go by the new laws because they are a credit union... is this try or possible?

I am looking for someone to help in these court matters, any suggestions for north florida?