Wells Fargo Home Project credit card

[eggz]

Is this card secured or unsecured? Wells Fargo Home Project credit card. I'm up to date on payments.

[justbroke]

Unless it has changed, they do hold a PMSI (purchase money security interest) in all goods purchased with the card. That means that all purchases are secured debt.

SECURITY INTEREST. You grant us a purchase-money security interest under the Uniform Commercial Code in the goods purchased on your Account. We will retain the purchase-money security interest until such goods are paid for in full. You agree to assist us in executing any documents necessary to perfect our security interest.

Wells Fargo Home Projects^® Credit Card Agreement (PDF)
Source: https://retailservices.wellsfargo.co...greements.html
Source: https://retailservices.wellsfargo.co...e_projects.pdf

[DanielBrooks]

This came up in my own case too. I had a retail card I used for a washer and dryer before I filed, and my attorney explained the same thing about the purchase money security interest. On paper the balance was unsecured, but the appliances themselves were collateral. I ended up not reaffirming and let that one go in the discharge, which hurt a little since the set was fairly new. If what you bought is something you truly need to keep, ask your attorney about redeeming or reaffirming just that part before the case closes.