topic Re: Credit card still open? in Bankruptcy

Credit card still open?

Anonymous — Wed, 27 Sep 2017 22:37:13 GMT

I filed for chapter 7 bankruptcy on July 21. I had my 341 on Aug 30. I'm waiting for my discharge Oct 31.

Today I received a letter from Old Navy/Synchrony about my account. I assumed it was a closure notice similar to the one I received from AMEX. But it was actually a letter stating that my credit line has been reduced to $200. I can't rememer if this card had a balance when I filed.

The reasons given:

Serious delinquency, and public record or collection filed
Time since delinquency is too recent or unknown
Time since derogatory public record or collection is too short
Length of time revolving accounts have been established

Is it possible they are going to let me keep the card?

Also, I checked my credit report with Equifax due to the breach. A few cards that did not have balances do not show they are in bankruptcy. Will they update the accounts once there is a discharge? I’m so confused because Amex closed my account within a week.

Re: Credit card still open?

Anonymous — Fri, 29 Sep 2017 04:04:20 GMT

I had a Kohl's card that had a $1000 credit limit that was reduced to $200 when I filed bankruptcy and I was able to keep it opens. Sometimes if a card has a zero balance, it will survive bankruptcy. If you have been discharged, I would test it out by charging a small amount. If it's still open, that's great.

Re: Credit card still open?

Anonymous — Sat, 30 Sep 2017 11:57:31 GMT

I'll check after my discharge. This process is so nerve wracking. I want it to be over.

Re: Credit card still open?

Kb109 — Mon, 02 Oct 2017 19:04:52 GMT

My first card I ever opened almost 11 years ago at age 18 was not included or listed in bankruptcy due to it having a zero balance. My attorney said it is not a debt due to zero balance and since they are so subprime and awful, I rolled the dice after closing all my other zero balance accounts that I knew would catch wind of the BK. The card is my 1st Financial Bank USA card lol. Worst card ever, 29.99% interest rate, you name it lol but it's my oldest trade line on my reports and I am so thankful it survived. Now onto rebuilding! Good luck with everything! Bankruptcy sucks and was the most stressful time in my life, but if I can make it through, I know you can. Keep your head up!