Usaa

[maynard59]

We are filing for Chapter 13 very soon. We currently use USAA for our banking, Home Equity Loan, and insurance (homeowners, auto, and life insurance) and we plan to keep paying these as part of our plan. But we are including a USAA Mastercard as part of our unsecured debt in our Chapter 13.

We heard USAA will stop online access to our accounts, and possibly not renew our insurance after the Chapter 13 is approved. My question is should we change to a new bank? If so, any suggestions for a new bank?

Also, if USAA does not renew our insurance policies (homeowners/Auto) while in Chapter 13, and we have to get new policies somewhere else, will being in a 13 plan cause us to have higher insurance premiums?

[ccfriend]

I would switch to a new bank. I had accounts at a cu. I was paying my auto loan that was with them outside the plan. I had a Visa with them that I owed $1200 and it was included in the bk. About three months after I filed I went to the store and tried to use my debit card and it was denied. When I called my cu they stated that they had frozen my account because of the VISA.

[ozarkmiss]

Maynard,
I sure hate to hear that USAA will shut down my online access. THey are the best institution I have ever worked with. In addition to investment accounts and all insurance, I have a lot of unsecured debt with them - equity line and 2 cc's.... Guess I need to start shopping for a new bank for my payroll to go to.

Could I bother you for an update in your dealings with them? I am still a ways off from filing, but have stopped paying unsecured.

[ironpirate]

Yeah, they make you use mobile website to look at your accounts. I'm going to try to get insurance with them again later after my discharge.

[ozarkmiss]

thanks ironpirate,

did they take cash out of your account to pay other monies owed to them?

[Blueboy]

I would advise you opening a new bank acct where you have no other credit. Other than that you shouldn't have any problems with USAA. We were in the same boat with them and discharged a MC in Chapter 7 and it hasn't effected our insurance rates or anything else for that mater. Good luck!

[rck3]

Yeah USAA wasnt bad to us, we bk about 30k w/ them. They do switch u to the mobile site which is a pain. If u do billpay you might want to switch because the mobile billpay is a pain. U are very limited on that site and for that reason alone I would switch. I was worried about my insurance too but after checking I found out I could get cheaper (like $800 cheaper) elsewhere so it became a non issue. Check your quotes, USAA is not always cheapest. I assumed so for years, but not always

[ironpirate]

thanks ironpirate,

did they take cash out of your account to pay other monies owed to them?

I went the safe way and changed insurance companies and bank accounts. I owed them a little over 25k. I might try to go back after my discharge for insurance.

[ozarkmiss]

Thanks everyone. I just went to town and opened a new account at a small bank to have my payroll direct deposited to. Can't risk a dime being taken - at this juncture.

I am not going to close anything at USAA -yet. I trully am sad to go BK on them. They are the best company I've ever done business with.

Look at all what we did / do with them!:

Investment
Home equity
car loan
2 cc
inurance for 2 houses /cars
brokerage acct
ira
3 checking accts
and prolly more

I should know better than to put all my eggs in one basket.

[SweetGeorgia]

I included a 30K USAA credit card balance in our bankruptcy. Last year, about 5 months after I'd stopped paying, they cut off my online access. We did reaffirm the car loan we have through them. I guess we'll find out in December/January about whether they renew our car insurance.

I'm really bummed to lose them, too. It was so nice to talk to people who were actually trained.

I called this week to see if I could get temporary or limited access back, in order to download info life insurance policies that were cancelled recently (due to non-payment caused by stay violation from another creditor). I don't know how to assess damages of that type, but I will probably need all the printouts. They said since I filed bankruptcy, I won't have online access for 7 years. My husband still has access though (knock on wood). He wasn't on my credit card and we're not on each other's bank accounts.