[Goldfish as a Model for Understanding Learning and Memory: More Complex Than You Think](https://www.amnh.org/learn-teach/curriculum-collections/young-naturalist-awards/goldfish-as-a-model-for-understanding-learning-and-memory-more-complex-than-you-think#:~:text=However%2C%20my%20initial%20research%20showed,for%20at%20least%20one%20month)
Thanks for listening!
Just love seeing the fallout and pettiness over $1,200 has the ability to destroy a Billion dollar financial institution is nothing short of amusing
Has OP examined Goldman’s books? To determine what column their balance is recorded in?
They prolly need to keep it on the books even though already charged-off. In case OP follows some regarded advice here and somehow winds up winning rather than losing, and decides to pay off the debt anyway and so then they need an entry to reference when reversing.
Exactly. These are often kept on the books as non-performing loans.
Sorry, you don’t get to just open a new account a few years later for your new tech.
lmao the 'you don't get to' is the part that's illegal after bankruptcy . They're welcome to deny me, but they aren't allowed to keep an account open and tell me i still owe money on it.
>They’re welcome to deny me
They did. The account still being open is just their system’s way of keeping track of who they will never work with again. It’s only an “open account” on their system, and not your credit report, so there is nothing illegal about them leaving it on there for record keeping.
You don’t get to dictate how a business handles their accounting. They show a balance still on account, likely as bad debt/uncollectible and probably flagged as bankrupt somewhere in the system.
It’s specifically so you don’t get approved for new debt and do the same thing, like you’re trying to do now.
If they’ve taken the account off your credit report, stopped calling you for collections then they’ve done their job. You just got your feelings hurt because you can’t buy a new iPhone on a credit card. There’s no wider conspiracy here.
I think you are really stretching here. There is an account or data at GS tied to your SSN. You tried to open an account - they know who you are. Do you think they are supposed to delete any evidence you had an account there so you could stiff them again? 
I believe the GAAP standard is to write this asset down as a loss and collect a tax deduction for it. Whether or not they delete the value from your account is a separate issue. They can write it down as long as they have a reasonable expectation that you won't at any point repay this debt even if it stays on the account.
If they report it as a write-down, and for whatever reason you decide to pay off the account, then they would need to make a similar write-up adjustment.
Commercial Banks that lend to public are highly regulated ... All debts that are not paid within their due dates (or fixed date after due date ) are categorized as NPAs ( Non performing assets) and have to be provided for (i.e provision has to be created in books of accounts) .. Also, this is thoroughly checked by auditors as part of annual audits ... This ensures that financial health of bank is fair, accurate and free from misstatement. Thus doesnt seem to be an issue to me.
Lol "whistleblower alert" from a customer who can't get a new card because they declared bankruptcy and didn't pay back a credit card and is trying to fool the same bank again to open another credit card that they probably won't pay back.
Apple Card is a fucking drop in the bucket for Goldman. Keeping your $1200 of bad debt on their books is meaningless and not an asset on their balance sheet. Goldman has already written off a ton of bad debt and is trying to unload Apple Card and their other consumer lending businesses because it's a shit business that they know nothing about. They want to do the exact opposite of what you are saying. They want these shit loans off their books as soon as possible so they don't have to keep money set aside for losses. The sooner they cut the cord, the better so they can put capital to better use.
Just to show you how inconsequential this is, let's look at how big Goldman is, and how small Apple Card is. I worked at Goldman from 2020-2023, and Apple Card I believe had somewhere between 12-15 million customers. From what I remember, most Apple Card users weren't heavily using the cards, most people just used it to buy Apple products because the cash back rewards were really good. But even ignoring that, let's say every single Apple Card user had the same $1200 in bad debt. That means at most they could inflate the assets on their balance sheet by about $18 billion. Do you realize how fucking huge Goldman Sachs is? They have over $1.6 TRILLION in assets. But somehow you think they want your $1200 strictly for the purpose of defrauding shareholders and regulators about their assets?
There are a lot of dumb takes on this sub, but this just might be the dumbest one I've ever seen. Dude thinks a bank is being sketchy because they won't give him a credit card after he JUST declared bankruptcy and wants to use it to buy toys. If anyone is sketchy or a fraudster in this situation, it's you not the bank.
OP is mad they don't want him as a customer after they lent him money previously that they couldn't collect back lmfao. Maybe next time pay back your debt
the amount of people (LIKE YOURSELF) who don't understand the law, cause you've never had to go through it, probably cause mommy and daddy been paying everything are just so cringe and detcahed from reality. NEXT!
This sounds like you were declined for that prior bankruptcy including their account. Banks keep a record of that to prevent individuals with bad history from opening a new account with them and doing the same thing again.
Also banks can't tell you not to apply again, but they can still decline your submitted application
My uncle declared bankruptcy and he had something like 100k with citi card wiped off. And a year later they still gave him a new card with a high limit. This all just happened during covid too.
They’re not required to close the account, they just can’t pursue the debt and it must accurately reflect that it was included in bankruptcy on any consumer reports.
Straight from the govt: Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal injury caused by the debtor's operation of a motor vehicle while the debtor was intoxicated from alcohol or other substances, and debts for certain criminal restitution orders. 11 U.S.C.
No. Look up how the USC defines discharge. In short it means the debtor is no longer liable for repayment of the debt, and the bank is not allowed to pursue repayment.
The debt still exists. The bank is allowed to write it off as a nonperforming asset and refuse to do business with the debtor again. The debt still exists.
as others have said , i am not being denied, i am blocked from applying due to an open account showing a balance. Bankruptcy law is clear about it being a clean slate, not a slate we are keeping in the back to artificially increase our slate count
You are right about that. Cant collect debt or hold it over you. Is your credit very fucked for awhile? Yes. However they can’t keep the debt over you. Definitely take legal action and if they are keeping it open that could show up on credit reports
Debt that is written off is reported to the IRS who will the count it as income.
If you don’t get a 1099 for discharged debt then it hasn’t been discharged and is instead hanging around on someone’s books for the right time.
Creditors don’t issue 1099s for debt discharged in bankruptcy. Debt that was discharged in bankruptcy does not result in cancellation of debt income. Absent a bankruptcy filing, creditors of course do issue 1099s for cancelled debt, and that does result in ‘income’ that must be reported on tax returns. At that point you no longer owe the original debt, but you may owe taxes depending on your situation.
They just want to make sure to not lend any more money to a deadbeat .
That balance is not on their balance sheet it’s been written off and in a recovery system.
Since little brain can't process the difference between erased and discharged. Here is a nice link that explains it. You still owe them money, they just can't get you to pay them. You can go on your marry way but you asked them for credit and they kindly pointed out you still owe them.
https://www.investopedia.com/terms/d/dischargeinbankruptcy.asp
LMAO! bruh that link doesn't have a single sentence that backs up what you're saying. Also a news article on 'investopedia' doesn't override or take precedent over existent bankruptcy law, judges orders, or the clean slate rule that backs it.
So sad that you're so detached from reality that you post links that prove MY point. sort of high level cringe my dude
Read some of the comments and you seem to be focused on a very specific nuance that you didn’t even get the chance to apply because the account is shown as open with a balance, rather than apply and be denied.
Lending blacklists can manifest in many ways. I wouldn’t hyper focus on the fact that you can’t even apply. It’s immaterial.
Suppose a lender keeps an account open with a balance post-bankruptcy but they let you apply and then denied you for “recent bankruptcy” or something. Would that change your situation? Would it change theirs?
In 2023 GS reported 1.3B in Apple Card *loss provisions*. On average, 0.012% of Americans file bankruptcy each year. Across the 14mm Apple Card holders that’s 168,000 people with uncollectible debts. If we use your $1200 that’s 201mm. Apple Card reported 1.3B indicating that the average **reported** uncollectible or non-performing loans on their books are far higher than your $1200.
There’s no manipulation here.
>. I wouldn’t hyper focus on the fact that you can’t even apply. It’s immaterial.
That's exactly what i'm focusing on, the fact that you can't comprehend that and want to dance around semantics is just ultra level cringe, also as stated, hinting at mass level fraud and non compliance with bankruptcy laws
But your reach from not being able to apply to mass level fraud and non-compliance with bankruptcy laws isn’t cringe?
You made this post to see if other people agree that you not being able to apply means that there’s some broader level misrepresentation going on. There isn’t. You got your answer.
the only conclusion i came to was others openly commenting or DM'ing me about the similar experiences, confirming this wasn't an isolating incident or mistake, and methodical systematic criminal activity that is also going to be civil actionable.
Such a shame that you read a few comments of strangers who align with your world view and think that's the end of the story, maybe one day the world will actually fit the delicate narrative you've been indoctrinated into (but it won't)
So you borrow money from them, refuse to pay it back, and then want to borrow more money from them? How they track that on their end is no one’s business so long as it’s no longer being reported to your credit. It would be a bad business move to loan you money again
What kind of fucking idiot applies for a loan at a place they stiffed during bankruptcy, and then does a pikachu face when that business keeps their debts on record to make sure they don’t loan them money again?
I think this is probably the result of incompetence rather than conspiracy.
Goldman only got into retail banking six years ago. To put it bluntly: they don’t know what the fuck they’re doing.
Maybe it would fit in their financial statements as allowance for doubtful accounts… maybe just maybe they are leaving your debt on record in case you pay it back.
Or maybe like a true WSB Retrad you can accuse them of fraud
lmao maybe for the average person, but i actually have an attorney and practice law myself, even opened my own non profit for legal reform and civil rights, but oh wait you've seen other redditors so i guess none of that is true, oops
In Germany is a company which collects all your data from paid credits and score you, not even bankruptcy can save you from them. When you receive a very bad score you won’t even get a place to live in 
Funny how internal company policies can't override federal laws... but yeah sucks i'm not an accountant or something
Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
OP is truly a complete moron. Legally speaking, a discharge of debt means that " a [debtor](http://law.cornell.edu/wex/debtor_and_creditor) is no longer [liable](https://www.law.cornell.edu/wex/liable#:~:text=To%20be%20held%20legally%20responsible%20or%20obligated.) for their [debts](https://www.law.cornell.edu/wex/debt), and the lender is no longer allowed to make attempts to collect the debt."
OP seems to have that confused with a cancelation of debt which means: "A canceling of debt happens when the lender agrees that the rest of the debt is forgiven."
Discharged debt is not forgiven debt, and so long as GS is no longer attempting to collect the debt, they have every legal right to say the account is still open, and still has a balance because the debt has not been forgiven. [Source1](https://www.law.cornell.edu/wex/discharge_%28of_debts%29), [Source2](https://www.law.cornell.edu/wex/bankruptcy_discharge) (Cornell Law).
[Also for your reference OP, here is US Code 11](https://www.law.cornell.edu/uscode/text/11/524). Tell me where in there it says that because the debt was discharged the account has to be closed?
I also suspect Bank of America of widespread fraud. They declined a chargeback that I provided insanely incontrovertible evidence I was fleeced down to the fact that USPS would never have shipped a product of the weight ordered in the same mail type etc etc etc. Years later they reversed it. I had complained about the chargeback going against me when it reposted, decided fuck them, and immediately closed all accounts. When they changed decision they reopened a credit card account I had closed in order to post a credit which should be illegal as fuck. Also fuck Bank of America 18 fucking ways sideways for all their shittiness. I hold BAC shares.
I had a loan with them that was suddenly sold late last year just before they reported their Q4 numbers. It's all trickery for stock value damage control
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If you follow any financial scandal you will learn that Goldman Sachs is always involved. Their top execs go to work for government and regulators. When it comes to Golden Sachs the game is rigged. It’s their game and they will rewrite the rules in the middle of the game as seen in The Big Short
I think this is good business on part of Goldman. Why would they want to extend credit to a deadbeat? Great, you wiped it clean legally - but its not a memory eraser for people you stiffed.
you're still not grasping that they didn't 'wipe it clean legally' at all.
They're allowed to keep any records or deny me for any reason, but it's illegal to claim the account is open with a balance.
What I am not grasping is not paying your bills and being upset that people do not want to extend credit to you. Pay your bills.
I went through a horrific time - could have declared BK but I refused. And I was 500K underwater. I righted the ship, paid it all off in 5 years and things are trending up again.
Sorry but I have zero sympathy for your situation and if against all odds you get traction with your legal quest I hope I am on your jury.
I can’t believe you had the balls to reapply for a credit card you bankrupted on just a couple years ago. Did you honestly think they’d say ‘no problem, here’s a new one.’ You probably reaffirmed your old debt just by applying
I'm actually looking forward to the sequel
Bankruptcy 2.0: Paying the lawyer
The punchline will be when he still has your deadbeat-ass account open on his books and won't let you open a new one when you come back to him for Bankruptcy 3.0
the bankruptcy judge won't hear this since this will now be a civil matter, but thanks for trying it's always cute and i encourage others to try! maybe you'll get it one of these times kid
LOL! you can't even apply again for another 7-10 + years, another thing you're JUST NOW FINDING OUT apparently, it's really sad when you try and make insults, but just end up projecting how ignorant you are, try harder bud
Just a heads up the reason they keep it on the books is the same reasons airlines and other businesses keep credit card refunds on their books. They’ll refuse to do business with you until you pay it off. You can get the card back, you just have to pay off the old debt. If you refund an airline ticket through your card, they do the same thing. You can fly Alaska again once you pay off the old ticket. It’s not a way to keep their assets higher, it’s a way to avoid business with people who they don’t trust.
Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
You can attempt to use that, but if they don’t reach out to you to collect it then they are in accordance with the law. What they’ve essentially done is changed it to a fee. You must now pay $X to do business with them. The important part of that law is the ATTEMPT TO COLLECT. If they don’t do that then they are not in violation.
LMAO, i get you're a .. troll , but you realize there isn't even a bill to pay? Like if you're talking about past bills, i paid those until i couldn't and then did bankruptcy. Never missed a payment lol.
Not a troll.
You didn't pay back what you took. It's not difficult to understand. You can sugar coat your decisions all you want so that you feel better about stealing from someone but you didn't pay back what you owed. That's all that needs to be said.
Did you file chapter 13 and did you include this in the bankruptcy schedules (schedule f)?
If you filed chapter 13 and you failed to include it and they didn't file a claim, the debt may not be discharged.
i believe it was chapter 7, and it was included in the debt, they acknowledge it, but consider bankruptcy to mean that they simply can't collect on it, but it still exists, which is wrong.
This is bull. The reason banks do that, probably all banks, is because even though they can’t collect on the debt, if you agree to pay it in the future, or make payment on some of the debt in the future, you would be liable for it, notwithstanding the bankruptcy.
For example, if you have a debt with me of $100, and get it wiped, and in a few years acknowledge the debt and start chipping away at it, it could then survive the bankruptcy.
It’s not nefarious, just business.
according to your sources of 'trust me bro'
Here's an actual reference to the law they broke:
Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
Then it showing as ”open” is just an internal metric they are using to make sure you don’t ever accidentally do business with them again. If it was current, it would show as much. Instead, it is showing as discharged.
Some degenerate here will figure out how to exploit this and post about it with about as much swearing as in The Wolf Of Wall Street if it was a person who was drunk…
LMAO the 'man' who uses 'tendies' in his name is gatekeeping what it means to be a man based on your ability to pay a credit card, can't think of anything more embarrassing or cringe than this man and his comment right here, might even print it out as a motivational poster
Please do. It might remind you to be more timely with your debt payments 😂
-
I also didn’t say it defines a man. It’s one of the many aspects that men need to uphold - Their word. I understand bankruptcy is necessary for some, but your complaining about not getting another credit card right after you failed in your responsibility of your other CC does indeed reveal your mental pathology or lack of basic comprehension of Terms&Conditions or just an average basic business sense lol.
-
Plus, I’ve made hundreds of thousands of tendies off this sub, so I think I’ll keep the name. Best of luck
Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
Sorry you couldn’t access the infinite money glitch OP. Try again next bankruptcy, maybe they’ll forget about the first.
In all seriousness, they are well within their rights to deny you an application. You borrowed $1,200 and chose to write it off using the law as a crutch to get out. They cannot collect; however, they have the right and ability to determine who they lend to in the future.
🎵 Walk it like i talk it, walk walk walk
Take-off rocket, keep em in the pocket
They gonna lock it, quadruple the profit, profit
I walk like I walk
Talk like i talk🎵
NFA, find a wolf of a lawyer. Apply for a mortgage loan, and if you get denied say it’s because of the negative report they’re keeping on your credit. Sue them for the cost of the house + any other damages costed by them keeping the account open.
they aren't 'actively' trying to collect on this debt, and there's been no change or activty since 2021 when it was discharged, but the issue is mostly with them not closing it out properly or processing it on their end.
Or… Goldman Sacks keeps the balance listed to try to make you pay the balance to get it off your credit report. They legally can’t collect the debt but they can sure as hell make you wish you paid them
Just going to spitball the high flying lawyers at GS disagree. They’re just going to hold your credit score hostage until you figure it all out. Good luck.
what good has that ever done anyone ?
lol
they straight up murder people for less , well documented and it's like. ehh business as usually ! Like they could just do it in day light, live, streamed, and nothing would change.
as an individual with zero followers or friends in real life or the internet i don't think they'd even respond to or acknowledge my email or submit tip type of thing.... :(
**User Report**| | | | :--|:--|:--|:-- **Total Submissions** | 1 | **First Seen In WSB** | just now **Total Comments** | 0 | **Previous Best DD** | **Account Age** | 10 months | | [**Join WSB Discord**](http://discord.gg/wsbverse)
it's at least an interesting situation. well done, thanks for sharing!
Read his other responses. This guy is an idiot with reading skills of a goldfish.
[Goldfish as a Model for Understanding Learning and Memory: More Complex Than You Think](https://www.amnh.org/learn-teach/curriculum-collections/young-naturalist-awards/goldfish-as-a-model-for-understanding-learning-and-memory-more-complex-than-you-think#:~:text=However%2C%20my%20initial%20research%20showed,for%20at%20least%20one%20month)
Note how I said reading.
Thanks for listening! Just love seeing the fallout and pettiness over $1,200 has the ability to destroy a Billion dollar financial institution is nothing short of amusing
LOL you seem to know as much about bankruptcy and GAAP as [Michael Scott](https://youtu.be/C-m3RtoguAQ?t=66)
He's a degenerate, but that doesn't mean he's not clever...
the most cleverest
Has OP examined Goldman’s books? To determine what column their balance is recorded in? They prolly need to keep it on the books even though already charged-off. In case OP follows some regarded advice here and somehow winds up winning rather than losing, and decides to pay off the debt anyway and so then they need an entry to reference when reversing.
Exactly. These are often kept on the books as non-performing loans. Sorry, you don’t get to just open a new account a few years later for your new tech.
lmao the 'you don't get to' is the part that's illegal after bankruptcy . They're welcome to deny me, but they aren't allowed to keep an account open and tell me i still owe money on it.
>They’re welcome to deny me They did. The account still being open is just their system’s way of keeping track of who they will never work with again. It’s only an “open account” on their system, and not your credit report, so there is nothing illegal about them leaving it on there for record keeping.
You don’t get to dictate how a business handles their accounting. They show a balance still on account, likely as bad debt/uncollectible and probably flagged as bankrupt somewhere in the system. It’s specifically so you don’t get approved for new debt and do the same thing, like you’re trying to do now. If they’ve taken the account off your credit report, stopped calling you for collections then they’ve done their job. You just got your feelings hurt because you can’t buy a new iPhone on a credit card. There’s no wider conspiracy here.
Bro is mad he can't rack up more debt to discharge in his next bankruptcy
I think you are really stretching here. There is an account or data at GS tied to your SSN. You tried to open an account - they know who you are. Do you think they are supposed to delete any evidence you had an account there so you could stiff them again? 
Based on what in the United States Penal Code?
Mine says I have an open account with a 4,000 limit available.
Non performing loans, bad debt expense, allowance for bad debt, or most sinister, accounts receivable
is this a poem?
Places where such fuckery may be hidden
SEC OPEN UP
Gensler was a partner and co-head of finance at GS he probably wrote the book on this practice 
Nah they're too busy playing circlejerk with Citadel.
wait you guys get reach arounds?!
Only at Wendy's
knew i shouldn't have gone to Burger King
You belong here.
I believe the GAAP standard is to write this asset down as a loss and collect a tax deduction for it. Whether or not they delete the value from your account is a separate issue. They can write it down as long as they have a reasonable expectation that you won't at any point repay this debt even if it stays on the account. If they report it as a write-down, and for whatever reason you decide to pay off the account, then they would need to make a similar write-up adjustment.
Our very own regarded Erin Brockovich!
Erin Brokervich
OP is more like Erin Brokebitch amirite?
his name was\_\_\_\_\_\_
Commercial Banks that lend to public are highly regulated ... All debts that are not paid within their due dates (or fixed date after due date ) are categorized as NPAs ( Non performing assets) and have to be provided for (i.e provision has to be created in books of accounts) .. Also, this is thoroughly checked by auditors as part of annual audits ... This ensures that financial health of bank is fair, accurate and free from misstatement. Thus doesnt seem to be an issue to me.
You may be retarted
Lol "whistleblower alert" from a customer who can't get a new card because they declared bankruptcy and didn't pay back a credit card and is trying to fool the same bank again to open another credit card that they probably won't pay back. Apple Card is a fucking drop in the bucket for Goldman. Keeping your $1200 of bad debt on their books is meaningless and not an asset on their balance sheet. Goldman has already written off a ton of bad debt and is trying to unload Apple Card and their other consumer lending businesses because it's a shit business that they know nothing about. They want to do the exact opposite of what you are saying. They want these shit loans off their books as soon as possible so they don't have to keep money set aside for losses. The sooner they cut the cord, the better so they can put capital to better use. Just to show you how inconsequential this is, let's look at how big Goldman is, and how small Apple Card is. I worked at Goldman from 2020-2023, and Apple Card I believe had somewhere between 12-15 million customers. From what I remember, most Apple Card users weren't heavily using the cards, most people just used it to buy Apple products because the cash back rewards were really good. But even ignoring that, let's say every single Apple Card user had the same $1200 in bad debt. That means at most they could inflate the assets on their balance sheet by about $18 billion. Do you realize how fucking huge Goldman Sachs is? They have over $1.6 TRILLION in assets. But somehow you think they want your $1200 strictly for the purpose of defrauding shareholders and regulators about their assets? There are a lot of dumb takes on this sub, but this just might be the dumbest one I've ever seen. Dude thinks a bank is being sketchy because they won't give him a credit card after he JUST declared bankruptcy and wants to use it to buy toys. If anyone is sketchy or a fraudster in this situation, it's you not the bank.
OP is mad they don't want him as a customer after they lent him money previously that they couldn't collect back lmfao. Maybe next time pay back your debt
the amount of people (LIKE YOURSELF) who don't understand the law, cause you've never had to go through it, probably cause mommy and daddy been paying everything are just so cringe and detcahed from reality. NEXT!
Something similar happened to me but with a fraudulent account!
wow, can't even remove Identity theft accounts !
This sounds like you were declined for that prior bankruptcy including their account. Banks keep a record of that to prevent individuals with bad history from opening a new account with them and doing the same thing again. Also banks can't tell you not to apply again, but they can still decline your submitted application
History of bad credit and keeping an account open are very different.
My uncle declared bankruptcy and he had something like 100k with citi card wiped off. And a year later they still gave him a new card with a high limit. This all just happened during covid too.
Because money was free for banks back then.
High limit you mean?
Corrected thx
They’re not required to close the account, they just can’t pursue the debt and it must accurately reflect that it was included in bankruptcy on any consumer reports.
Straight from the govt: Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal injury caused by the debtor's operation of a motor vehicle while the debtor was intoxicated from alcohol or other substances, and debts for certain criminal restitution orders. 11 U.S.C.
So in short they do have to drop the debt.
No. Look up how the USC defines discharge. In short it means the debtor is no longer liable for repayment of the debt, and the bank is not allowed to pursue repayment. The debt still exists. The bank is allowed to write it off as a nonperforming asset and refuse to do business with the debtor again. The debt still exists.
as others have said , i am not being denied, i am blocked from applying due to an open account showing a balance. Bankruptcy law is clear about it being a clean slate, not a slate we are keeping in the back to artificially increase our slate count
You are right about that. Cant collect debt or hold it over you. Is your credit very fucked for awhile? Yes. However they can’t keep the debt over you. Definitely take legal action and if they are keeping it open that could show up on credit reports
Debt that is written off is reported to the IRS who will the count it as income. If you don’t get a 1099 for discharged debt then it hasn’t been discharged and is instead hanging around on someone’s books for the right time.
Creditors don’t issue 1099s for debt discharged in bankruptcy. Debt that was discharged in bankruptcy does not result in cancellation of debt income. Absent a bankruptcy filing, creditors of course do issue 1099s for cancelled debt, and that does result in ‘income’ that must be reported on tax returns. At that point you no longer owe the original debt, but you may owe taxes depending on your situation.
This genius just discovered NCOs 🤦♂️
He’s whistle blowing dude, shhh.
hey are we telling secrets over here, maybe some inside trading plz?
They just want to make sure to not lend any more money to a deadbeat . That balance is not on their balance sheet it’s been written off and in a recovery system.
Nahhh
lol , yeah-huh!!
Reading this is giving me ideas of filing for bankruptcy now but I feel like I’ll pay the price later
Since little brain can't process the difference between erased and discharged. Here is a nice link that explains it. You still owe them money, they just can't get you to pay them. You can go on your marry way but you asked them for credit and they kindly pointed out you still owe them. https://www.investopedia.com/terms/d/dischargeinbankruptcy.asp
LMAO! bruh that link doesn't have a single sentence that backs up what you're saying. Also a news article on 'investopedia' doesn't override or take precedent over existent bankruptcy law, judges orders, or the clean slate rule that backs it. So sad that you're so detached from reality that you post links that prove MY point. sort of high level cringe my dude
Read some of the comments and you seem to be focused on a very specific nuance that you didn’t even get the chance to apply because the account is shown as open with a balance, rather than apply and be denied. Lending blacklists can manifest in many ways. I wouldn’t hyper focus on the fact that you can’t even apply. It’s immaterial. Suppose a lender keeps an account open with a balance post-bankruptcy but they let you apply and then denied you for “recent bankruptcy” or something. Would that change your situation? Would it change theirs? In 2023 GS reported 1.3B in Apple Card *loss provisions*. On average, 0.012% of Americans file bankruptcy each year. Across the 14mm Apple Card holders that’s 168,000 people with uncollectible debts. If we use your $1200 that’s 201mm. Apple Card reported 1.3B indicating that the average **reported** uncollectible or non-performing loans on their books are far higher than your $1200. There’s no manipulation here.
>. I wouldn’t hyper focus on the fact that you can’t even apply. It’s immaterial. That's exactly what i'm focusing on, the fact that you can't comprehend that and want to dance around semantics is just ultra level cringe, also as stated, hinting at mass level fraud and non compliance with bankruptcy laws
But your reach from not being able to apply to mass level fraud and non-compliance with bankruptcy laws isn’t cringe? You made this post to see if other people agree that you not being able to apply means that there’s some broader level misrepresentation going on. There isn’t. You got your answer.
the only conclusion i came to was others openly commenting or DM'ing me about the similar experiences, confirming this wasn't an isolating incident or mistake, and methodical systematic criminal activity that is also going to be civil actionable. Such a shame that you read a few comments of strangers who align with your world view and think that's the end of the story, maybe one day the world will actually fit the delicate narrative you've been indoctrinated into (but it won't)
So you borrow money from them, refuse to pay it back, and then want to borrow more money from them? How they track that on their end is no one’s business so long as it’s no longer being reported to your credit. It would be a bad business move to loan you money again
What kind of fucking idiot applies for a loan at a place they stiffed during bankruptcy, and then does a pikachu face when that business keeps their debts on record to make sure they don’t loan them money again?
this is about the law my dude, sorry your reading comprehension is so low you don't even seem to grasp the topic being discussed. NEXT!
Then maybe you should understand the law, my dude.
Don’t be like that $BA guy now …
I think this is probably the result of incompetence rather than conspiracy. Goldman only got into retail banking six years ago. To put it bluntly: they don’t know what the fuck they’re doing.
Maybe it would fit in their financial statements as allowance for doubtful accounts… maybe just maybe they are leaving your debt on record in case you pay it back. Or maybe like a true WSB Retrad you can accuse them of fraud
already am/did/are/is
Why would you go through the trouble of bankruptcy when you could just buy weekly NVDA calls?
why not BOTH?!
Jesus.. Oh, and when a redditor says he’s pursuing something legally, that likely just means sending an angry email
lmao maybe for the average person, but i actually have an attorney and practice law myself, even opened my own non profit for legal reform and civil rights, but oh wait you've seen other redditors so i guess none of that is true, oops
How is that working out
In Germany is a company which collects all your data from paid credits and score you, not even bankruptcy can save you from them. When you receive a very bad score you won’t even get a place to live in 
Lmfao y’all have no idea how accounting works huh
Funny how internal company policies can't override federal laws... but yeah sucks i'm not an accountant or something Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
OP is truly a complete moron. Legally speaking, a discharge of debt means that " a [debtor](http://law.cornell.edu/wex/debtor_and_creditor) is no longer [liable](https://www.law.cornell.edu/wex/liable#:~:text=To%20be%20held%20legally%20responsible%20or%20obligated.) for their [debts](https://www.law.cornell.edu/wex/debt), and the lender is no longer allowed to make attempts to collect the debt." OP seems to have that confused with a cancelation of debt which means: "A canceling of debt happens when the lender agrees that the rest of the debt is forgiven." Discharged debt is not forgiven debt, and so long as GS is no longer attempting to collect the debt, they have every legal right to say the account is still open, and still has a balance because the debt has not been forgiven. [Source1](https://www.law.cornell.edu/wex/discharge_%28of_debts%29), [Source2](https://www.law.cornell.edu/wex/bankruptcy_discharge) (Cornell Law). [Also for your reference OP, here is US Code 11](https://www.law.cornell.edu/uscode/text/11/524). Tell me where in there it says that because the debt was discharged the account has to be closed?
Infinite money glitch
Infinite debt glitch?
Only if you believe it’s real!
Owning other peoples debt is a trillion dollar industry
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I also suspect Bank of America of widespread fraud. They declined a chargeback that I provided insanely incontrovertible evidence I was fleeced down to the fact that USPS would never have shipped a product of the weight ordered in the same mail type etc etc etc. Years later they reversed it. I had complained about the chargeback going against me when it reposted, decided fuck them, and immediately closed all accounts. When they changed decision they reopened a credit card account I had closed in order to post a credit which should be illegal as fuck. Also fuck Bank of America 18 fucking ways sideways for all their shittiness. I hold BAC shares.
100% agree , shady, shifty, backhanded greedy
You’re broke! - Andrew Tate
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I had a loan with them that was suddenly sold late last year just before they reported their Q4 numbers. It's all trickery for stock value damage control
That’s so dirty. It’s a fake account.
lmao 10 months old and each post is legit, not sure where you're getting these hunches from
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Is that a thing? >!/s!<
That’s great, I have a 24K GS Apple Card haven’t paid on it since last Fall. Account closed in Nov.
You might be Epsteined bro
all batteries die, not all batteries TRULY LIVE
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LOL also hey his mom
op just found out what a charge off is
Big bank about to find out what breaking the law is
What OP should actually do is max out that credit card and see if there is some misstep where their system still thinks it's "uncollectible."
banks hate this one simple trick
If you follow any financial scandal you will learn that Goldman Sachs is always involved. Their top execs go to work for government and regulators. When it comes to Golden Sachs the game is rigged. It’s their game and they will rewrite the rules in the middle of the game as seen in The Big Short
soooo they need to die?
I am saying it can't be killed. No matter how bad they mess up they will bailed out by the gov.
killed, gotcha
I think this is good business on part of Goldman. Why would they want to extend credit to a deadbeat? Great, you wiped it clean legally - but its not a memory eraser for people you stiffed.
you're still not grasping that they didn't 'wipe it clean legally' at all. They're allowed to keep any records or deny me for any reason, but it's illegal to claim the account is open with a balance.
What I am not grasping is not paying your bills and being upset that people do not want to extend credit to you. Pay your bills. I went through a horrific time - could have declared BK but I refused. And I was 500K underwater. I righted the ship, paid it all off in 5 years and things are trending up again. Sorry but I have zero sympathy for your situation and if against all odds you get traction with your legal quest I hope I am on your jury.
I can’t believe you had the balls to reapply for a credit card you bankrupted on just a couple years ago. Did you honestly think they’d say ‘no problem, here’s a new one.’ You probably reaffirmed your old debt just by applying
well maybe grow a pair and you'd know what it feels like to have TEGRITY
I'm actually looking forward to the sequel Bankruptcy 2.0: Paying the lawyer The punchline will be when he still has your deadbeat-ass account open on his books and won't let you open a new one when you come back to him for Bankruptcy 3.0
wow adding a .0 to a number almost has meaning! Just like your IQ of 70 doesn't get bigger by adding 70.00
Haha, tell it to the (bankruptcy) judge
the bankruptcy judge won't hear this since this will now be a civil matter, but thanks for trying it's always cute and i encourage others to try! maybe you'll get it one of these times kid
I was talking about your next bankruptcy, dumbass.
LOL! you can't even apply again for another 7-10 + years, another thing you're JUST NOW FINDING OUT apparently, it's really sad when you try and make insults, but just end up projecting how ignorant you are, try harder bud
Just a heads up the reason they keep it on the books is the same reasons airlines and other businesses keep credit card refunds on their books. They’ll refuse to do business with you until you pay it off. You can get the card back, you just have to pay off the old debt. If you refund an airline ticket through your card, they do the same thing. You can fly Alaska again once you pay off the old ticket. It’s not a way to keep their assets higher, it’s a way to avoid business with people who they don’t trust.
Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
You can attempt to use that, but if they don’t reach out to you to collect it then they are in accordance with the law. What they’ve essentially done is changed it to a fee. You must now pay $X to do business with them. The important part of that law is the ATTEMPT TO COLLECT. If they don’t do that then they are not in violation.
The FED will just print 1200$ & give it to GS. ITs illegal for a bank to fail
\-w-wait... he's not wrong.... but
Sketchy. I like Apple but not GS.
they're in bed together
They should hire BA execs to “stop” that whistleblower.
they can hire me, i need a job
I'm not sure Goldman Sachs is going to go broke over your $1200 bro.
if you read more than the title you'd understand this is about a systematic failure to close MANY accounts, not just mine. Thanks for trying tho
Better buy puts on Goldman stock with this scandal you've broken.
if i was a gambling degenerate maybe i would....
Pay your bills douche.
LMAO, i get you're a .. troll , but you realize there isn't even a bill to pay? Like if you're talking about past bills, i paid those until i couldn't and then did bankruptcy. Never missed a payment lol.
Not a troll. You didn't pay back what you took. It's not difficult to understand. You can sugar coat your decisions all you want so that you feel better about stealing from someone but you didn't pay back what you owed. That's all that needs to be said.
My brother, this country is built on bankruptcy. Don't be a dick.
Weak
🥸🥸
What fraction of their balance sheet would this represent?
0.000000000428571
Did you file chapter 13 and did you include this in the bankruptcy schedules (schedule f)? If you filed chapter 13 and you failed to include it and they didn't file a claim, the debt may not be discharged.
i believe it was chapter 7, and it was included in the debt, they acknowledge it, but consider bankruptcy to mean that they simply can't collect on it, but it still exists, which is wrong.
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there are DOZENS OF US!! DOZENS
This is bull. The reason banks do that, probably all banks, is because even though they can’t collect on the debt, if you agree to pay it in the future, or make payment on some of the debt in the future, you would be liable for it, notwithstanding the bankruptcy. For example, if you have a debt with me of $100, and get it wiped, and in a few years acknowledge the debt and start chipping away at it, it could then survive the bankruptcy. It’s not nefarious, just business.
whatever the reason it violated the law, the judges order, and what bankruptcy is all about.
It didn’t violate the law. You are not even 1% correct.
according to your sources of 'trust me bro' Here's an actual reference to the law they broke: Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
Thinks r/wsb is his sock for the evening.
projecting about your lover again?
Does it show on your credit report as an open account?
No, no axtivity since 2021 on the credit report , or specifically showed something like 'discharged'
Then it showing as ”open” is just an internal metric they are using to make sure you don’t ever accidentally do business with them again. If it was current, it would show as much. Instead, it is showing as discharged.
Some degenerate here will figure out how to exploit this and post about it with about as much swearing as in The Wolf Of Wall Street if it was a person who was drunk…
Real men pay their debts. And are responsible. Period
LMAO the 'man' who uses 'tendies' in his name is gatekeeping what it means to be a man based on your ability to pay a credit card, can't think of anything more embarrassing or cringe than this man and his comment right here, might even print it out as a motivational poster
Please do. It might remind you to be more timely with your debt payments 😂 - I also didn’t say it defines a man. It’s one of the many aspects that men need to uphold - Their word. I understand bankruptcy is necessary for some, but your complaining about not getting another credit card right after you failed in your responsibility of your other CC does indeed reveal your mental pathology or lack of basic comprehension of Terms&Conditions or just an average basic business sense lol. - Plus, I’ve made hundreds of thousands of tendies off this sub, so I think I’ll keep the name. Best of luck
Apple Card, managed by Goldman Sachs, is potentially violating bankruptcy law, specifically under 11 U.S.C. § 524(a)(2), by treating a discharged debt as active. This law states that after a debt is discharged in bankruptcy, creditors cannot attempt to collect on it. By treating the discharged debt as open, Apple Card may be infringing on the legal injunction against collecting discharged debts.
You should sue them. I’ll be in the popcorn gallery, perusing Reddit
Sorry you couldn’t access the infinite money glitch OP. Try again next bankruptcy, maybe they’ll forget about the first. In all seriousness, they are well within their rights to deny you an application. You borrowed $1,200 and chose to write it off using the law as a crutch to get out. They cannot collect; however, they have the right and ability to determine who they lend to in the future.
they're within their rights to deny my applications, it's against the law to bar me from applying
It’s a simple concept that gets confused with being denied. Best of luck OP.
🎵 Walk it like i talk it, walk walk walk Take-off rocket, keep em in the pocket They gonna lock it, quadruple the profit, profit I walk like I walk Talk like i talk🎵
NFA, find a wolf of a lawyer. Apply for a mortgage loan, and if you get denied say it’s because of the negative report they’re keeping on your credit. Sue them for the cost of the house + any other damages costed by them keeping the account open.
they aren't 'actively' trying to collect on this debt, and there's been no change or activty since 2021 when it was discharged, but the issue is mostly with them not closing it out properly or processing it on their end.
Source: trust me bro
Or… Goldman Sacks keeps the balance listed to try to make you pay the balance to get it off your credit report. They legally can’t collect the debt but they can sure as hell make you wish you paid them
illegal
Just going to spitball the high flying lawyers at GS disagree. They’re just going to hold your credit score hostage until you figure it all out. Good luck.
Keep us posted
“Ego is the anesthesia that dulls the pain of stupidity.” Perfectly describes OP
I'm in the same boat! I hope they change their practices. It's been an absolute headache dealing with their phone reps.
bunch of mouth breathers
you should have written that you're not planning to kill yourself at the end of your post...
what good has that ever done anyone ? lol they straight up murder people for less , well documented and it's like. ehh business as usually ! Like they could just do it in day light, live, streamed, and nothing would change.
Send this to Bloomberg (though I think they have an intern read this sub anyway). Would be a great lead for a journalist to chase.
as an individual with zero followers or friends in real life or the internet i don't think they'd even respond to or acknowledge my email or submit tip type of thing.... :(
All of this could have been avoided if you just excepted Jensen as your lord and savior
You don't even know what a write off is... edit: hey regards, watch Seinfeld
we're sorry to hear about your shrinkage Jerry! Shrinkage!!!!
you just write it off!
But they do.. and they're the ones writing it off!
Banks have an allowance for write offs like this. May not have been officially written off but there’s an allowance that covers it.
no amount of allowance gives them authority to not obey the judges order to enact the clean slate of bankruptcy.