Another Questions: Secured Debt

[Xar77]

I had a computer that I bought 4 years ago on a compusa card. Now after the BK they want either the computer or their balance back. I've gotten my second notice.

1. I don't have the computer anymore. Sold it a LONG time ago (imagine a 4 yr old computer).

2. So I offered through my attorney what the computer is roughtly "worth" in the real world (computers depreciate VERY fast). They didn't take it... now they say they just want the property. what should I do if I don't have it? and don't want to pay $800-$900 for a $100 computer.

[Minnymouth]

Check with your attorney on this:

The value of the computer at the present time is probably $100.00....

Since you no longer have the pc then they are not going to get their property back.

Since the computer stood for itsself against the debt, all they can really collect is the value of the computer right now....

The original debt was discharged in bankruptcy....

Let your attorney handle this...

Believe me it will cost the pc creditor a LOT MORE to sue you than their 4 year old pc is worth and what you owe....

Keep us posted.