Home Depot ?

[Liaah]

We are filing Chap 7 (hopefully) in June or there about.

We had a new front door put on our house about a year ago on the Home Depot card at no payments no interest for a year. We have made no payments on the card. Payments will probably start next month. What happens in cases like this? I feel really bad about the whole thing. I never intended on not paying for the door. I want the door! I would be willing to pay them for the door, but I don't know if it is secured or not. Anyone know about Home Depot?

Thanks

[Mortgage Guru]

my guess not secured, its part of the real estate they can't repo it.

[Liaah]

Well I really hoped they couldn't come out one day and take it down. Ouch!

But, I thought maybe it was secured and I would just pay for it.

Thanks for your thoughts Mortgage Guru.

Anybody else?

[TomJ1]

You can pay for it even if it's unsecured.

[DivorceRuinedMe]

I have a similar situation with two large furniture stores. I got the furniture before this whole mess -WAY before. I fully intended to pay it off with my tax return and then my life went to pot, I left my abusive ex and here I am now with no way to pay off the deferred furniture cc that's coming due soon.

My atty told me that I could reaffirm the furniture loans and keep the furniture or I could tell them to take it back. I've been reading some old threads and someone said that a lot of the time they won't come and get the stuff even though they threaten to. It's up to you to take the chance to let it go or reaffirm. I am thinking I may call their bluff but I haven't decided yet. I'm not in love with any of the furniture where I'd be heartbroken if they took it so it's not an issue for me just yet.

[wayne-o]

im dont know about the furniture but im pretty sure the home depot would just fall under their normal revolving card unsecured but just with no interest. My home depot card was actually part of the giant citicorp umbrella of financing. They did not come and object or ask for anything back although I probably only owed $400 or so to them at the time of my filing

[Liaah]

I owe just a little over 900 for the screen and door. I thought about sending them some money before I file. I do know not to send more than 600. Thing with that is I am trying to save any extra cash for the lawyer. I might just have to wait and see what happens.

[lrprn]

The chances of Home Depot showing up to take back your front door are about the same as an asteroid hitting your house! Don't send them a dime and don't worry about it.

[CPO]

The chances of Home Depot showing up to take back your front door are about the same as an asteroid hitting your house! Don't send them a dime and don't worry about it.

Irprn has it right here....

Creditors cannot "breach the peace" in order to collect secured property. In most jurisdictions, simply walking onto someones property after being told to leave is a "breach of the peace."

Your creditor would have to sue you in court, win, obtain a judgement and serve you and then, only then, make arrangements to recover the property.

They would have to do this under the cover of law enforcement, usually the sheriff.

This process can be costly, especially if you play the game and tie them up in court. Would it be worth it for these creditors to act so? What kind of money recovery could they expect by selling/auctioning off used doors and furniture?

Lets not forget, you will probably be in BK before this would ever be an issue anyway. The automatic stay prevents any such action.

I don't think anyone is going to come to your home to repo your door nor demand the return of your furniture. If they did, you would have known about such legal action for some time.

If they really wanted this stuff, you could always mention that you had to paint the door to match your trim and the furniture is in the garage drying out from that major plumbing flood you had. They can come and get the stuff anytime......

Remember, "Warfare is the Way of Deception," says Sun Tzu.

I would relax.

CPO

[SinkingFast]

We bought a couple of built-in appliances a little over a year before we filed. Made 3-4 payments on the acct and then quit.

I worried the store would come back for the appliances. Tough since we'd sold the house. Our attny was unphased. He said if the store asks, we'll tell them where they are. But generally speaking, if it's bolted/screwed/nailed to the house, Creditors don't bother.

[petrified]

Liaah,

Your Home Depot account is actually a Citibank account. Home Depot already has their money.

P