bori75
Occasional Contributor
Due to life changes and circumstances I might be force to file BK Ch7. and include a USAA credit card in the BK.
How does that affect my banking with USAA? Will you cancel my membership? Will I be able to keep my checking/savings/car insurance?

12 REPLIES

Thank you for your question, bori75. When a member files bankruptcy, we will restrict them from being able to establish new products or services with us for the 7 year period that the bankruptcy is on file. We will not, however, force the member to close any other products or cancel the membership. We remain available to assist with any questions or concerns you may have. Please don't hesitate to reach out if we can further assist. -Meredith

Another question - a few members have mentioned that their online account has been restricted once their bankruptcy has been discharged and only have mobile access. Would I only have access to my account thru the USAA mobile app? Thanks!!
It's actually 8 years of probation, as I called it, (my discharge was apr 2009, and just got access back last week). During the EIGHT years you can only use the mobile site. They will not let you log in the the full site, or get new services. Everytime you need help you have to call and then explain why you are not able to complete whatever they wanted you to do online.
I was able to keep my car insurance, although I lost my checking bc in 2008 a collector from USAA credit card told me that they would take my money out of my USAA checking (so I changed banks, sad face). I was later told that they couldn't legally do this, they did not fix it, but that was after I got put on USAA bankruptcy probation.
I don't want to change banks/get new checking account. I'm afraid that USAA will start taking money out of my checking account for their Credit Card since I do hold a CC card with them that's going to be included in the BK.
Make sure when filing chapter 7 that your not a consigned on any loans. Usaa automatically charges off all accounts including one I was consigned on and it screwed my daughters credit as well got her into a little trouble on active duty. Obviously usaa has money to waste and not give the members the opportunity to pay the loan. 😡👎🏼
No consigned loans - all on my own! I don't want to screw anybody or let my own financial mistakes affect other people. Thanks for the heads up.

Thank you for your additional questions. We previously used to restrict the online access for members with uncollected funds or bankruptcies on file. However, effective 06/02/17, we now allow mobile and USAA.com access to view and transaction on your accounts. I hope this helps! -Meredith

Thanks for all the answers and advise!! I've been with USAA for about 17 years now and I do love their services and support of veterans and service members.

Please do continue in reaching out and making contact with any other questions or concerns you may have bori75.  Our members and their experience do mean the world for us, and we are here for you when needed.  Thanks so much for your long membership with USAA, and we look forward to continue in serving you!  -  Justin