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I'm currently waiting to file Chap 7 BK. I'm retired military/disabled vet and currently use USAA for my direct deposits. I have no debts with USAA but worried they will close or limit my access to my accounts after I file. The following credit unions are IIB
NFCU
PSECU
Eglin FCU
Apple FCU
Grow Financial
I currently have NASA FCU however since it was where my funds were going when I was working my lawyer had said to separate the accounts hence I moved my retirement/disability direct deposits to USAA.
Should I find another Credit Union ASAP? Worried USAA will block me once I file for chapter 7 even though I have no credit items with them. Please advise.
I'm hoping someone will chime in for you. I think @pizza1 may know actually I believe they limit your online access so you may want to open another account somewhere just to be safe.
@missy42 wrote:
@Thank you for responding, I hope to hear from @pizza1. When I had USAA back in 2007 they limited my online access but I had a loan and credit card with them. I was hoping since I have no credit they wouldn't but I guess I can live with limited access. My lawyer says the main thing is they can't take the $. Once I discharge I'm moving everything to NASA FCU. So I'll just wait.
Have you thought about looking into Navy Fed? NASA is not BK friendly until you pass the 2 year mark. Would hate to see you invest time and money with a lender that won't even work with you.
@missy42 wrote:I'm currently waiting to file Chap 7 BK. I'm retired military/disabled vet and currently use USAA for my direct deposits. I have no debts with USAA but worried they will close or limit my access to my accounts after I file. The following credit unions are IIB
NFCU
PSECU
Eglin FCU
Apple FCU
Grow Financial
I currently have NASA FCU however since it was where my funds were going when I was working my lawyer had said to separate the accounts hence I moved my retirement/disability direct deposits to USAA.
Should I find another Credit Union ASAP? Worried USAA will block me once I file for chapter 7 even though I have no credit items with them. Please advise.
Good advice here so far, but my only question is that since you don't owe USAA any money (so they won't be IIBK) I don't think you have anything to worry about... the only time they restrict people to the mobile site is when they are burned, which isn't the case with you.
With a little luck @Anonymous will be able to shed some light... he used to work for them, and is a great source of the in's-and-out's of how they do things.
FWIW I know first-hand what you're going though (I had BK, then years later lost my job and then had a foreclosure, so I genuinely know...). Hang in there... once you get these 'bumps' worked out it does get better.
Unless things have changed since July 2016 (when I last worked at USAA), USAA will not take action against any members, to include active accounts, nor limit access (restrict you to mobile view only, even on a desktop) unless USAA is IIB.
Hope that helps,
Oz
I wanted to go back and expand on pizza's post. If the OP had included USAA in the bankruptcy, everything pizza mentioned is 100% spot on. Restricted access (mobile view on a computer), a CAD (corporate account declined) code on your account, meaning no new bank products for 7 years post BK. Anytime you'd call into USAA, the MSRs would not be able to suggest any products that you specifically didn't ask for. Say for example you call in for an auto insurance quote, the MSR wouldn't be able to suggest looking into a Renters Insurance, Homeowners Insurance, etc. unless you asked for it by name.
Now since the OP has did not include USAA in the bankruptcy, you have nothing to worry about with your existing accounts. I highly doubt you'll be able to open new chk/svgs accounts with USAA since we run something similar to a Chexsystems report, USAA uses a different company that I'm blanking on atm, but your existing accounts (banking, p&c insurance, investments, life insurance) will be AOK.
Oz