We received a carbon-copied letter from our attorney. It was to one of our creditors that we had one of those "no payments / no interest for a year" deals with.
We would be more than happy to give up the merchandise, because we had every intention of paying for it when we financed it... but it's a mattress, which in NC, it is illegal to re-sell. So, even if they came and took it, they couldn't do a darn thing with it.
Anyway, my question is - what's the worse that can happen with this? Does it affect our "no asset" case status? Will we possibly have to pay it back, or can we just opt to give it back, regardless of it's actual value?
Since we only got the attorney's response letter, I'm not sure what the creditors are asking. I haven't bothered calling the attorney, because I have faith he will take care of the matter, I'm just curious, if anyone has any input on what might take place.
The response letter simply says that the creditor needs to provide a copy of the Security Agreement, and then the attorney will respond.
Thanks for any replies. Our 341 is next Friday which we are looking forward to having that done with.
We would be more than happy to give up the merchandise, because we had every intention of paying for it when we financed it... but it's a mattress, which in NC, it is illegal to re-sell. So, even if they came and took it, they couldn't do a darn thing with it.
Anyway, my question is - what's the worse that can happen with this? Does it affect our "no asset" case status? Will we possibly have to pay it back, or can we just opt to give it back, regardless of it's actual value?
Since we only got the attorney's response letter, I'm not sure what the creditors are asking. I haven't bothered calling the attorney, because I have faith he will take care of the matter, I'm just curious, if anyone has any input on what might take place.
The response letter simply says that the creditor needs to provide a copy of the Security Agreement, and then the attorney will respond.
Thanks for any replies. Our 341 is next Friday which we are looking forward to having that done with.
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