I need some advice regarding my debt, all in my name and accumulated by me during a short and failed marriage.
I have three credit cards basically maxed out. A student loan of $8000 that is due to be repaid in November.
My health has taken a toll due to all the stress related to this self-inflicted mess. I am a nurse and get paid an hourly wage. If I don't work, I don't get paid-basically exhausted my PTO.
I am considering bankruptcy, I can't even do a proper grocery shop due to all the monthly payments, which I have been paying on time every time. My credit score took a nose dive big time.
My current minimum monthly payments are: $300 for a visa card; $ 200 on an American Express; $400 on a personal loan I took out to pay off store credit and medical bills; around $ 200 on a Mastercard I used for school expenses.
I am not getting ahead. I have called the Visa card reps several times to lower my interest, they won't budge.
Question: If I file for bankruptcywill USAA drop me as a customer? I have been a member since 2001.Utilizing the car insurance and checking account.
The American Express, Mastercard and personal loan are through USAA. The Visa card is with Wells Fargo.
Help please, as I don't know what to do anymore. I'm going in circles here, and I don't want to lose USAA auto insurance, especially since I will have both of my children on the policy shortly
I'm sorry for the stress of all your financial woes.
You'll need to talk with USAA's finacial adviors about your situation and your inability to pay down your bills.
Declaring Bankruptcy may be your only option but you should call USAA and discuss this with them beforehand.
Is your student loan a Federal loan or a private loan? If Federal there are options at repayment that could be advantageous to you.
I am sorry to hear about your financial issues. I would highly suggest giving us a call at 1-800-531-USAA (8722) to chat with Financial Improvement Team 1800-531-USAA(8722) extension 2-4483. The Financial Improvement Team concentrates on member assistance related to: debt management, budgeting and building/maintaining credit.. Best of luck to you!
Jessie is correct.
If USAA is included in the bankruptcy, they will get upset. They might not renew your insurance. They may let you keep your deposit accounts, but they will pretty much take away your online banking.
Navy Federal is worse. Far worse.