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USAA in a Chapter 7 Bankruptcy

jjb0894
Regular Contributor

USAA in a Chapter 7 Bankruptcy

I am currently in the process of filing Chalter 7 Bankruptcy because I attempted to get into a business endeavor and it didn’t work out and now I have too much debt to keep up with.
Anyway, I was wondering about my USAA account.
I do most of my banking with them, I have a checking account, savings account, auto insurance and where I had my auto loan (thank God it’s paid off now). I am wondering since I owe a pretty large amount of money on my USAA credit cards ($18,000 split between two cards), will they stop letting me use their banking services?
I am current on my insurance payments with them and my checking account is not overdrawn. It has no money in it just because I’m worried they’re gonna mess with my money during the bankruptcy but I’ve kept it out of the negative.
Credit Obtained Since Discharge



Capital One Platinum MasterCard, $600 Credit Limit.




Indigo Platinum MasterCard, $300 Credit Limit




Chapter 7 Discharge: March 13, 2019


Home Loan: $120,000 30 YR Fixed VA Loan @ 3% APR
Home loan through Guild Mortgage
Message 1 of 7
6 REPLIES 6
frogman1
Valued Contributor

Re: USAA in a Chapter 7 Bankruptcy

I think it would be wise to just open a new bank account somewhere else.  In the past they wouldn't even let people log on to their site who defaulted on them.  You can still have car insurance with them.   

More cards than I can mention in a signature.
Message 2 of 7
jjb0894
Regular Contributor

Re: USAA in a Chapter 7 Bankruptcy

I already have an account with a local credit union I established way before the bankruptcy and already changed my direct deposits to the credit union.
Credit Obtained Since Discharge



Capital One Platinum MasterCard, $600 Credit Limit.




Indigo Platinum MasterCard, $300 Credit Limit




Chapter 7 Discharge: March 13, 2019


Home Loan: $120,000 30 YR Fixed VA Loan @ 3% APR
Home loan through Guild Mortgage
Message 3 of 7
texamel
Valued Member

Re: USAA in a Chapter 7 Bankruptcy

I have a checking, savings, auto insurance with USAA.  I had 4 different creditcards with USAA with a total of debt of $54,000 which I discharged in Chapter 7 bankruptcy in February 2018.  I still have my car insurance, checking and savings account with them.  Never had a problem.  Hope this helps.  

Message 4 of 7
MyDataMyChoice
Valued Contributor

Re: USAA in a Chapter 7 Bankruptcy

USAA may restrict you to the MOBILE app only.

There have been reports USAA no longer does this... but blacklists you for credit products.... not banking tho (unless its an overdrafted account)

 

 

USAA Also cannot CANCEL your insurance policies... they MAY choose not to renew or offer you a payment plan.  IMO they are not that much cheaper... they used to be but here in the northeast... they are not too eager to win over business 


Message 5 of 7
texamel
Valued Member

Re: USAA in a Chapter 7 Bankruptcy

I can still log onto their website. I haven't tried to get anything new from them yet, but in 1 year my lease will expire and I want to keep the car so I will apply with them first. I might get denied but I'm still going to try.
Message 6 of 7
jjb0894
Regular Contributor

Re: USAA in a Chapter 7 Bankruptcy

I discharged $18,000 with them and still have full access to the mobile app. Obviously my credit cards have disappeared off the app and I haven’t attempted to apply for more credit with them.
Credit Obtained Since Discharge



Capital One Platinum MasterCard, $600 Credit Limit.




Indigo Platinum MasterCard, $300 Credit Limit




Chapter 7 Discharge: March 13, 2019


Home Loan: $120,000 30 YR Fixed VA Loan @ 3% APR
Home loan through Guild Mortgage
Message 7 of 7
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