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Does anyone know about Sears?

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    Does anyone know about Sears?

    Does Sears retain a security interest in any thing you purchase from them? I tried calling but got someone who couldn't speak English very well. I thought I read somewhere that they retain a security interest until the item is paid off.

    #2
    Yes, Sears retains a security interest in the larger items purchased, however, in the cases I have handled Sears has not been a player in several years. Sears use to be very active, but not any more. Treat Sears as unsecured and see what happens - probably nothing unless you are dealing with a very large and recent purchase.

    Des.

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      #3
      Sears had a reputation for being very tough about the security interest in everything purchased on their card - but that was when they ran their own credit operation. I don't know about the practices now that they have outsourced credit (was CitiBank when I had a card), except to say that I discharged debt to sears in 11/2009 and didn't hear anything.
      Chapter 7 Filed 8/11/2009, Discharged 11/23/2009

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        #4
        Probably will not be a problem. No one really wants your used stuff back again.
        All information contained in this post is for informational and amusement purposes only.
        Bankruptcy is a process, not an event.......

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          #5
          My attorney told me to list Sears as unsecured. We did. A stove (recent purchase, only a few payments made) and a washer and dryer (older purchase, close to being paid off). We heard nothing from Sears. Still have the appliances. We were discharged July 2010.

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