Question about a Rooms 2 Go Credit Card

[downwardspiral]

Ok, I've had a Rooms to Go credit card for almost 10 years. We had a balace of $1000 on it when we filed for bankruptcy. That money due was for our daughter's furniture. We had heard that it was possible they could come repossess the furniture. So we decided to keep paying it, even though it was included int he bankruptcy.

I called the credit company (CitiFinancial) and asked them if they would keep my card open after I paid it off. They said I would have to call back after I was discharged. So I called today. They said they canceled the account because of the bankruptcy, and that I could re-apply.

I figure if I re-apply they'd just deny me.

But I still owe $384. I've been making payments of $150 a month.

So my question is, should I keep paying it or just stop? Can they still come after the furniture? A part of me feels like since they closed it already and wrote it off under the bankruptcy, then why bother paying. But another part feels like I should continue and finish.

Your thoughts?

[jessegirl]

Why would you pay on something that was included with the BK? How long after you purchased the furniture did you file? I wouldn't pay them a dime. Do you have an attorney handling your BK? If so, I am suprised he allowed you to keep paying. Stop paying it.

[ready2puke]

Keep your money, do you think they are going to come take your daughters furniture away? No way they dont want used furntiure. Keep your money or give it to me???

[downwardspiral]

lol. Our attorney said that is we wanted to keep paying for it that was our decision, but we didn't have to. They said Rooms 2 Go "could" technicialy ask for the furniture back. But it was rare. We were nervous about that and didn't want to risk them asking for it back. We bought part of the furniture 1 year before we filed, the last piece we bought six months before we filed.

[TEW]

send me the money please I will put it to better use

[jessegirl]

TEW - Your too funny.

Use the money for Christmas Presents. I am shocked that your attorney wouldn't try to talk you into stopping the payments. They would never take the furniture.. STOP PAYING.... You could of been using that money monthly on something else..

[downwardspiral]

Thanks everyone. I feel kind of stupid now. lol

[Stilltheone]

I was like you, OP, and paid on my furniture (through American General) for 2 months after we filed. When we got the reaffirmation papers, I just let it go. They never came for their stuff.

I wouldn't keep paying on it. It's discharged debt.

[ready2puke]

Hey TEW I asked first..

send me the money please I will put it to better use

I called first dibbs !!!!!!!!!!

[nullbalance]

i'm in a similar situation. i have an open ashley furniture account with about $3500 owed on it on furniture i purchased two years ago. i just filed early this month. i guess from reading here i can assume that the furniture will remain in my hands? can you continue to pay them as a means of rebuilding your credit?

[jessegirl]

NULL - No - they are going to close that account anyway. DO NOT PAY ON ANYTHING if you intend to BK on it. Why would you??? Rebuild your credit. The account will show as included in bankruptcy on your credit report anyway.

[krielly]

Just so you know, furniture is NOT always a secured debt. You need to take a look at the contract carefully.

We filed 13 3 years ago, and the paralegal was going to list the furniture payment (also Citifinancial) as a secured debt. Fortunately our attorney got out the contract and said "this isn't a secured debt, it's a line of credit. Show me where in this contract does it state that it is a secured debt?......List it as unsecured!!".

Just info that's good to know................thought I would pass it along, as it may be helpful to some.

K