If security interest doesn't exist, can I claim unsecured?

[J.I.]

First post here. Between the NOLO book and forum searches, I have had almost all of my questions answered, but there are a couple that I'm still pondering:

First: last summer, I purchased about $700 worth of music equipment on a department-store card. The cardholder agreement states that the bank through which the credit is administered will obtain a purchase-money security interest after my transaction. Normally, this would make it a secured debt. However, after searching UCC filing in the bank's state, I can find no PMSI under which I am listed as a debtor. Would I be stupid to try to claim that this is unsecured debt?

Second: I am about to complete the pre-BK counseling requirement. Is it acceptable to send a printout of an email certificate, or should I pay to have one sent to me?

Third: Similar to above: I receive paychecks via direct deposit, and as such have no actual pay stubs. I can log on to my employer's website and print out paystubs. Will the trustee accept these as proof of income?

For what it's worth, I'm filing Pro-Se in Minnesota. My BK is due to recent medical bills. I'm uninsured and my wage is easily under the state's median income. My medical bills are about twice my annual income. I fully expect to be a no-asset case, and the secured debt mentioned previously is the only minor issue about which I'm worried.

I sincerely appreciate any response.

[aachudneymiles]

First post here. Between the NOLO book and forum searches, I have had almost all of my questions answered, but there are a couple that I'm still pondering:

First: last summer, I purchased about $700 worth of music equipment on a department-store card. The cardholder agreement states that the bank through which the credit is administered will obtain a purchase-money security interest after my transaction. Normally, this would make it a secured debt. However, after searching UCC filing in the bank's state, I can find no PMSI under which I am listed as a debtor. Would I be stupid to try to claim that this is unsecured debt?

Second: I am about to complete the pre-BK counseling requirement. Is it acceptable to send a printout of an email certificate, or should I pay to have one sent to me?

Third: Similar to above: I receive paychecks via direct deposit, and as such have no actual pay stubs. I can log on to my employer's website and print out paystubs. Will the trustee accept these as proof of income?

For what it's worth, I'm filing Pro-Se in Minnesota. My BK is due to recent medical bills. I'm uninsured and my wage is easily under the state's median income. My medical bills are about twice my annual income. I fully expect to be a no-asset case, and the secured debt mentioned previously is the only minor issue about which I'm worried.

I sincerely appreciate any response.

The companey i went through sent me in an email of my certificate and I printed out and that was that .. but you will need a certifcate because it has on it the law and so forth..

and I have a store with about 3k on it . and i got a laptop .. and I put it as unsecured if they dont say anything then your good if you put it unsecure and they object you will have to put it secure ( amend you bk) do a statement of intentions either giving the stuff up or reafirm. it they object it would be more work,

[SinkingFast]

Re: Secured vs Unsecured,...........

It's kinda gonna go according to the Creditor.

We had purchased items from Sears on our Sears MC. We told our attny about it. Our attny was inclined to list that entire acct as Unsecured and deal with Sears if they came back later. Sears did not claim any part of the LOC balance as Secured.

Other Creditors, like Best Buy, can be particularly bad. They'll pester you about getting their property back. Or they'll turn your acct over later to a 3rd party like Bass and Associates to pester you.

Hubby had some gaps in his pay stubs. Ones we could not find at home. He got copies of statements from payroll at work. They were obviously different than the "pay checks" Hubby gets every week, but they were acceptable. Printing off your own copies shouldn't be a problem.

As a CYA, tho,......... Be sure to ask attnys in your area if you'll need something more "formal" than your own print outs. Your Court may want some sort of note, or stamp, or seal from your payroll dept.

Even tho you plan to file Pro Se, you'll benefit a lot from Consulting around with attnys in your area. You can pick up a lot of info about your Court. About the Trustees. What the Trustees look for. What the Trustees will let slide. Budget tips for Schedule J and such. You can learn a lot. Just be sure to ask if the Consults are free before you schedule.

[songbird81]

First post here. Between the NOLO book and forum searches, I have had almost all of my questions answered, but there are a couple that I'm still pondering:

First: last summer, I purchased about $700 worth of music equipment on a department-store card. The cardholder agreement states that the bank through which the credit is administered will obtain a purchase-money security interest after my transaction. Normally, this would make it a secured debt. However, after searching UCC filing in the bank's state, I can find no PMSI under which I am listed as a debtor. Would I be stupid to try to claim that this is unsecured debt? I wouldn't worry about it, just list it unsecured.

Second: I am about to complete the pre-BK counseling requirement. Is it acceptable to send a printout of an email certificate, or should I pay to have one sent to me? Printout of the certificate you get via email is fine.

Third: Similar to above: I receive paychecks via direct deposit, and as such have no actual pay stubs. I can log on to my employer's website and print out paystubs. Will the trustee accept these as proof of income? This is fine too.

For what it's worth, I'm filing Pro-Se in Minnesota. My BK is due to recent medical bills. I'm uninsured and my wage is easily under the state's median income. My medical bills are about twice my annual income. I fully expect to be a no-asset case, and the secured debt mentioned previously is the only minor issue about which I'm worried.

I sincerely appreciate any response.

I'm in MN too, just had my 341. Are you filing in Minneapolis or Duluth? If you want to PM me with questions I'd be glad to help!

[J.I.]

Excellent. This has given me some things to think about. I appreciate everyone's responses. (I expect to be filing in Minneapolis this week.)