Dell Financial

[journey]

[B[/B]

I had to file for Chapter 7 in November 8th . i have 5 credit cards and one account with Dell Computer. I bought a Computer on Credit threw them back in May of this year will i have the chance to keep it and pay paymets or will they come to my house and get it.


Thanks for any input.

[jessegirl]

Hav you made any payments on the computer? Also, i don't thik that they are going to want the computer back. Was the computer an expensive on?

[journey]

Hi Jesseiesgirl .I made 5 payments on the computer before i had to stop making all my payments i had financed a Computer and a T.V threw dell financial which came up to about $1,700

[exhausted]

My husband and I were discharged earlier this month. We owed Dell a good chunk of change (don't remember the exact figure off the top of my head), and they didn't ask for anything back. However, IIRC, we hadn't purchased any big ticket items from them at least a year before we filed. It might have even been closer to two years.

[Ladybug78]

I settled for 25% of amount owed.

I owed Dell $2,400. A few days before my 341, I called to have my auto-debit canceled, as they had taken a payment a few days earlier. Their bk dept. was very helpful and offered to put the money back into my acct. When I got to the 341 on a Monday, my atty had paperwork he'd received from Dell on the previous Friday, offering a settlement of $600 @ $20 a month. He recommended that I go ahead and settle rather than risk them taking my items which I love (desktop, laptop and 2 cameras), I agreed to pay. Not a big deal. Good luck!

[journey]

exhausted and LadyBug...Thank you for you message. i all so really love my computer and flat panel phillips t.v. i got threw dell.

Hopefully i will be able to keep it and make some kind of payment threw them.

Thanks again as well.

[Cut-Up-Plastic]

I disagree with Ladybug78. I would NOT have settled. I think her attorney did her a disservice. Even if the computer is secured, Dell cannot simply take it away without getting a court order to do so. A used consumer computer is not worth it for Dell to go to Court to get an order to re-possess it. It simply will not happen.

I believe that if you have a Dell computer, you will be able to keep it forever without ever encountering any problems from Dell.

[Ladybug78]

Disservice?

Cut-up,
I woudn't say my atty did me a disservice at all. He said it was secured debt and that there was a small possibility that they could come after the items. He didn't force me to settle. I personally wanted to keep the items and didn't want the risk of them inconveniencing me by possibly repo-ing it. All said and done, $600 is a very small price to pay in exchange for erasing a large amount of debt.

[StartingOver08]

We all have to do what we are comfortable with when we go through this BK. Personally, I agree with Ladybug - she got the issue taken care of with a minimal payment and she never has to worry about either losing the secured item or surrendering it. Peace of mind has a value too, just a different value to everyone.

[Stilltheone]

Cut-up,
I woudn't say my atty did me a disservice at all. He said it was secured debt and that there was a small possibility that they could come after the items. He didn't force me to settle. I personally wanted to keep the items and didn't want the risk of them inconveniencing me by possibly repo-ing it. All said and done, $600 is a very small price to pay in exchange for erasing a large amount of debt.

I agree with Cut-up. Your chances of Dell coming to get your stuff are slim to none. Used electronics have NO resell value and, after all is said and done, it would cost Dell more to come and get the stuff than it would to just let you keep it.

When we filed, we actually took out a loan on furniture, 3 months prior to filing. It states right in the paperwork it's secured, yet we never signed the reaffirmation agreement they sent us. Not one peep out of them.

In the end, it's not worth it for a company to sue you to get USED stuff worth NOTHING.

[Goodrisk47]

Re Dell...it's not Dell, but CIT to which the debt is owed...

...and CIT is not about to come repo used electronics

I am executor of a deceased person who bought a flat-screen TV thru Dell

I spoke with the creditor and offered that they could make arrangements to get the thing

They didn't even begin to bite

They don't want it

They aren't coming

This peace of mind isn't worth $600, if you're a BK filer

Discharge the debt to CIT would be my strongest advice

[Cut-Up-Plastic]

I don't want to beat a dead horse, but, with very rare exceptions, the only time a secured creditor will seek to repossess a consumer good is if it is an automobile.

For a creditor to repossess anything else, like a computer, furniture, or whatever, they have to bring an action in court called replevin (here is the Nolo definition: http://www.nolo.com/definition.cfm/T...3AB97/alpha/R/).

That means they have to hire an attorney to do this; he has to file papers and serve you; he has to bring a motion for summary judgment; he then has to have a local law enforcement officer carry out the repossession after paying them a fee, etc.

A large creditor or bank such as yours will not spend the money to do this to obtain used computer equipment which will have nominal value at best. If you do a search of the Forum, I doubt you will hear of any creditor repossessing a used computer.

I still wish you good luck and hope all works out well !!!

[BassBoy]

......If you do a search of the Forum, I doubt you will hear of any creditor repossessing a used computer.

So true. There have been a lot of questions pertaining this matter and I don't recall anyone posting so-and-so waltz in and took back the items purchased on store credit.

[daytimer69@hotm]

Just a thought and a question. I thought credit card (dell, visa, master card) was considered an unsecured debt and through chapter 7 they cannot repo it?

[WorkingItOut]

Just a thought and a question. I thought credit card (dell, visa, master card) was considered an unsecured debt and through chapter 7 they cannot repo it?

Dell's agreement indicates it's secured. It's not the same as a Visa or MC.