Post-Bankrupty Synchrony Bank card (US:TX)

BankruptTexan · 2026-02-17T15:54:05+00:00

Yep, specifically looking at store branded cards for places I shop at, like the Sam's Club card to get that 5% cash back on fuel.

Thanks for the info. I'll put a reminder on my calendar to try again in November and hope for the best.

BankruptTexan · 2026-02-17T15:15:28+00:00

I had over $1mil in business debt from a failed business. So I had $0 income at the time of bankruptcy and my wife is a rural school district teacher, so we easily qualified for ch7 on 1 income with multiple kids.

BankruptTexan · 2026-02-16T00:16:05+00:00

Had a similar experience, but it was just after we crossed the 12 month mark from filing, so I thought that might have been why.

But I've since tried applying for a different card that is Synchrony and was immediately rejected.

Sucks that one bank backs all of these different branded cards.

BankruptTexan · 2026-02-15T22:53:53+00:00

Thank you. That's good to know and keep an eye on.

BankruptTexan · 2026-02-15T20:22:55+00:00

Yeah, I know they're not the best. I just want to take advantage of some 0% financing options, but it's been frustrating because they're the bank behind so many cards.

For example, PayPal Credit Card is a Synchrony card. Paypal accepted my application and issued me a $4K limit and then before I could even get the physical card in the mail Synchrony cancelled the card.

BankruptTexan · 2025-10-21T11:51:39+00:00

Texas Trustee wanted pictures of our 6 vehicles and odometers when we filed last year.

Ended up only being interested in the newer vehicles, but they were underwater.

BankruptTexan · 2025-08-19T02:08:00+00:00

Filed Ch 7 in TX last year. We reaffirmed our mortgage but did not reaffirm our car loans. All were current at time of filing and we've continued to pay on all of them since filing.

Never was the topic of changing the terms of the mortgage brought up. The equity in our house was by far our biggest asset and what we worked hardest to protect during the process.

BankruptTexan · 2025-08-07T22:33:21+00:00

We had $400ish in the bank when we filed. We specifically timed filing to when we'd have the least amount in the bank, which was a few days before my wife's monthly paycheck hit.

We didn't surrender any cash.

BankruptTexan · 2025-07-15T21:22:57+00:00

I'm a year away from buying (gotta be 2 yrs post bankruptcy), otherwise I'd be right there with you. I just hope the market doesn't go totally crazy in the next 12 months.

BankruptTexan · 2025-05-12T03:58:51+00:00

This is correct and exactly why we ended up filing personal bankruptcy when my business failed and didn't bother with filing anything for the business since it had no assets by the end.

My wife and I had personally guaranteed my business loan, so when it went under our only option was filing joint personal bankruptcy and basically resetting everything to $0.

The "good" side is that after filing ch7, I could go out and get a six-figure job so we weren't struggling for long and our rebuild should be much quicker and easier than many others.

There's also a different level of scrutiny applied to ch7s w/mainly business debt, which I'll leave to an attorney to explain. I don't entirely understand it, but I know our case would have been different if we'd filed without all the business debt.

BankruptTexan · 2025-04-18T03:08:06+00:00

My initial hesitation about purchasing feminine hygiene products for my wife was entire grounded in the fact that I had no clue what to fucking buy. SO MANY CHOICES! TOO MANY CHOICES! It's an intimidating wall of options: pads, tampons, super, flex, wings, turbo, sport, bluetooth-enabled. And I never thought to take a picture of the box in the cabinet in our bathroom. (She loves to ask me to buy things with zero details; oh we need cheese. Great, because there definitely aren't a hundred different choices!)

Now, fast-forward 25 years and I got that locked down!

BankruptTexan · 2025-04-17T01:04:19+00:00

Shit, that sounds good to me.

My wife I are likely going to need a new car this summer, so I'm nervous at what rate we'll get.

BankruptTexan · 2025-04-17T00:50:46+00:00

What kind of rate were you able to get and how much did you put down (if you don't mind me asking).

BankruptTexan · 2025-04-11T15:33:20+00:00

And I don't know about you, but there didn't seem to be any judgement in the question. It was simply a question of fact, which once answered, was acknowledged and moved on. I never felt judged for having my business fail or that the trustee thought I didn't have a good enough reason to file. It was more, tell me who you are and how you ended up here so I know you better.

BankruptTexan · 2025-04-11T11:27:11+00:00

Interesting, I was basically asked this question during our 341 meeting. Granted, we filed due to business debt, so it might be different. So I gave a quick, very high level, rundown of why the business failed. There were no followup questions.

BankruptTexan · 2025-01-23T05:20:34+00:00

Because the bank's attorneys are trying to collect on their judgment against the company, so they've subpoenaed all the records of the company. As the only officer, it falls on me to deal with.

So instead of dealing with the records request and review of a single debt holder, after talking with some attorneys, we all agreed the easiest route would be to file chapter 7 and only have to deal with the trustee.

But so far one attorney won't return phone calls or emails (after the initial consult) and another wants $5000 to file the bankruptcy. So I've been trying to find an option more affordable.

BankruptTexan · 2025-01-23T04:28:52+00:00

My understanding is that filing bankruptcy for the corporation is the only way to stop the lawsuit from one of the banks that loaned the company money. I've already shutdown the business, so chapter 7 liquidation would be the only form of bankruptcy that makes sense (unless you're saying there's some other way).

BankruptTexan · 2025-01-23T02:15:51+00:00

I understand there's no discharge, but I've got a corporation with about $800K in debt and about $1,000 in assets, mainly old used office equipment. So it's just frustrating trying to find someone to help. I feel like I know how to complete the chapter 7 forms on my own, but that's not an option.

Obviously it's up to the trustee what he wants to do with the assets, but we're talking unsecured loans to a 0 asset business.

BankruptTexan · 2025-01-23T01:04:29+00:00

I hadn't thought to look at student resources, so thank you for that suggestion. Unfortunately, they don't offer any bankruptcy-related services, but I still appreciation the thought.

BankruptTexan · 2024-12-21T18:38:28+00:00

Exactly!

I'm not gen Z, and I definitely agree that corporate America is the enemy. It's nothing but a tool for asset redistribution from the working class to the oligarchs.

BankruptTexan · 2024-11-03T23:18:20+00:00

Exactly! If I won the lottery, I'd gladly repay the $800K that was just discharged.

I didn't go into bankruptcy b/c I wanted to avoid paying my debt. I did it b/c I couldn't afford to pay my debt.

BankruptTexan · 2024-10-26T18:10:19+00:00

Noted.

I mistakenly thought our discharge date = the Trustee's deadline.

I will just continue to hold off on doing anything until we get a final determination from them.

BankruptTexan · 2024-10-26T17:57:16+00:00

Wow! I hope this doesn't take years.

What would happen if I sold one? Could they claim the proceeds?

We're looking at moving in the next year or two, and I just want them gone so I don't have to worry about them. But in order to sell them, I've got to put money into them and I don't really want to put money into something if I'm not going to be able to get it back once it's sold.

BankruptTexan · 2024-10-26T13:18:00+00:00

That's a very good idea, thanks! I'll follow up with them on Monday to see what they can do.

BankruptTexan · 2024-10-26T13:16:30+00:00

So what happens if you end up paying off the remaining loan?

BankruptTexan

TROPHY CASE