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USAA and Bankruptcy

ShellyxBaby
Established Member

USAA and Bankruptcy

First of all I'd like to apologize If whatever I say offends anyone but I'm kinda angry and hurt. So I've been doing business with USAA since 2009 when I got my first car and then I started banking with them post bankruptcy. They were never included in my bankruptcy but the way they have treated me has been horrendous. They outright refused to help me in anyway. Before my car got taken I asked if I could refinance with them and they told me no. The day my car got taken I asked if they would be willing to offer me a auto loan to cover the amount needed to get my car back and they said no. Today I'm moving halfway across the country on hotfill orders I had no time to secure an apartment the place where I'm going the security deposits are the same amount as the rent. I'm just tied to apply for a 2500 loan to help cover the costs of putting down on a apartment and for my actual 3000mile trip and you know what they told me? Yeah you guessed it No. They said in order for me to get a loan with them my credit score had to be above 670. They tried to tell me that I had missed payments and that's why I got denied I told them that post bankruptcy all my payments has been current my credit score is currently 624...I'm so done with them I'm going to BOfA..
Filed BK7: 11/2013 Discharge 03/2014 Starting Score 562
634 EQ FICO 03/2015
607 TU FICO 03/2015
605 EX FICO 03/2015
Message 1 of 9
8 REPLIES 8
TRC_WA
Senior Contributor

Re: USAA and Bankruptcy

Some lenders don't like BK.

 

USAA is one... and I believe BofA is another.  Chase too. AmEx. Discover. Citi.  The list goes on and on...

 

NFCU is definitely the exception and not the rule when it comes to approving credit to BK filers.

 

You were discharged a year ago and your scores are still hovering around 600?  Have you not started to rebuild?  Not to sound harsh but you won't get any kind of a decent loan or credit card with those scores.

 

 

FICO 8 @ BK13 discharge: 3-22-22 | FICO 8 per myFICO as of: 6-17-22
EQ: 638/683 | TU: 631/654 | EX: 641/673
Hard INQs last 12 months: EQ: 4 | TU: 5 | EX: 8
Kohl's $700 WF Platinum $1000 WF Reflect $6000 Verizon Visa $4000 Ollo MC $1500 Mission Lane Visa $850 Petal 1 Visa $2900
Credit One Wander $1700 Upgrade Visa $2000 PenFed Gold Visa $2500 Amex Delta Gold $10,000 Care Credit $8000
Total CL: $41,150 --- Total CC UTI: 5% --- AAoA: 10.5 years --- Income: $100k
$56k @ 4.81% Capital One auto loan (2022 Dodge Challenger R/T Scat Pack Shaker Widebody - 6.4L 485 HP) 3-29-22
Gardening since: 6-8-22
Message 2 of 9
bstone
Frequent Contributor

Re: USAA and Bankruptcy

I agree with TRC.  If you're a year post BK and scores are still around 600 that needs to be addressed immediately.

 

I'm six weeks post discharge and my scores are just slightly lower than yours.  I would try Navy Federal CU (if you qualify) before B of A.  We joined NFCU in September or October 2014, discharged BK end of Jan 2015, they approved a $500 credit card last week for me.  Not a high limit, but they are taking a chance on me with such a recent BK.

 

Read the BK to 700 post, you may not be able to follow it 100%, but it's great information and will help in your rebuild.

 

Some of what you're asking for I'm not sure any lender would offer though.  A personal loan with no collateral?  That's going to be hard to obtain right now.  A second loan on your car to get it out of repo?  Second lienholders on cars don't exist.

 

You need to be realistic about your rebuild process and more realistic about what lenders are willing to do for you.  Remember, you've shown once you had financial difficulties, they look at that and will judge you for it until you prove otherwise.

 

And I hate to be the jerk to say it, but this sudden move probably wasn't the best decision given your credit history.  You know it costs money to move, yet you don't have it.  You know deposits are required.  Yet you don't have it.  But it's the banks fault for not giving it to you?  You may also want to reevaluate your savings strategy and start setting aside money for situations like this.  One of the big things my wife and I did was start paying ourselves before others.  We put 10% in savings each check.  It's not a huge amount, but it will add up and when we need it we will have it.

 

I strongly encourage you to look into NFCU before B of A, but if nothing else a local credit union would be better than B of A.  Remember, B of A is a major bank with shareholders, a local CU still has members to answer to but are generally much more willing to give second chances.

 

Good luck!

NFCU Rewards - $18,000, NFCU Signature - $18,000, NFCU LOC - $15,000, Care Credit - $7,700, Lowe's - $6,400, Capital One QS - $5,000, Walmart - $5,000, Amazon - $4,000
Message 3 of 9
gdale6
Moderator

Re: USAA and Bankruptcy

I suggest you find a local CU to deal with, one that has secured credit card or are willing to issue unsecured with small limit to help you rebuild. Stay away from BoA or any other big bank you will get the same treatment from them as USAA has given you.

Message 4 of 9
ShellyxBaby
Established Member

Re: USAA and Bankruptcy

I started the bk to 700 really late hence the low scores Im working on it right now.I had USAA way before the BK and I had no idea that they were that harsh.
Filed BK7: 11/2013 Discharge 03/2014 Starting Score 562
634 EQ FICO 03/2015
607 TU FICO 03/2015
605 EX FICO 03/2015
Message 5 of 9
ShellyxBaby
Established Member

Re: USAA and Bankruptcy

I know it costs money to move I'm not that dumb I had or have money set aside that I used to pay my last month bills at my old apartment and to also take care of cleaning for my move out. I'm in the military and I got hit suddenly with orders to San Diego when I was supposed to be going to Italy but they changed it. It's not like I can tell the military I'm not going. So as I said I had no choice . NFCU got burned in the process and from what I've heard they don't do forgiveness

Filed BK7: 11/2013 Discharge 03/2014 Starting Score 562
634 EQ FICO 03/2015
607 TU FICO 03/2015
605 EX FICO 03/2015
Message 6 of 9
joelotto
Member

Re: USAA and Bankruptcy

You might think they are harsh but they helped me when capital one wouldnt give me a credit card. I''m about 9 months post bk 7 and sitting at 680 fico across all three and I still can't get approved for capital one. USAA didn't help me but  i used them to help me make my credit file better and got two secured cards. At six months I got the barclay card and got the firestone card before bk was even dicharged. So... its not what they can do for you but its more about looking at it like how can they help you grow. 

Message 7 of 9
elim
Senior Contributor

Re: USAA and Bankruptcy

I love USAA... Great Bank!  

 

You just filed in 13' so give it some time and things will probably perk up there. I know you did it legaly but lenders were stiffed, it's on your reports, and now you're paying the price.

 

All of us that get into trouble pay it.

 

all you can do is buck up and make it happen another way.

Message 8 of 9
KKJones70
New Visitor

Re: USAA and Bankruptcy

 I totally understand your frustration with USAA.  My husband and I were members since 1991 and have used their services not only for auto insurance, but for auto loans, mortgages, home insurance, the list goes on.  We had always been on time with our payments up until my husband and I were in a motorcycle accident in 2013.  We did get behind in payments, and tried very hard to keep up on payments.  Our insurance did get behind and told us that if we did not pay it up front they would cancel on us.  Well, with the help of our son and my father, they paid the difference, and then they ended up cancelling on us anyway.  They did not tell us ahead of time that they would cancel.  They told us if it was not paid, it would be cancelled.  We came up with the funds and paid the outstanding balance and thought all was good.  It was not until 2 months later when my daughter's car had broke down and we needed a tow, I contacted them for help, and was told they no longer had us insured.  I was floored.  I had been told that they would not cancel, and to hear that I do not have it, was just beyond me.  Oh USAA is helpful alright.. Only if you keep paying your dues.  IF you ever find yourself in a situation that you cannot, then say good-bye to their services.  I am very disappointed in how they treated a long time client, from (1991-2013 faithfully paying) and was not able to offer any kind of help at all when they knew of the circumstances as it was.  I would NEVER return even if I could, and I would not hesitate to let others know of their treatment to one of their faithful longtime costumers after an accident.

Message 9 of 9
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