Washing Machine Won't Spin/Drain (by 3 users)

My washing had been making a noise upon completion of spinning, like squealing brakes need new pads. Then last night the washing machine just quit spinning. It will wash all day but when it goes to the rinse, it just stops. I hear the click for it to engage to drain and spin but it won't do it. It just sits there. Any Help? It is a Magic Chef and bought in 1991. I'm not sure it this is the correct model, but the picture looks like the washer.