Negotiate unsecured loans

[mintz]

If you file a bk, can you negotiate with your unsecured loans a better pay off or reduced payments. We have furniture charged since 2005. One of those no payments no interest for 36 months but we have paid it down from $12,000 to $5000 so far.

[Stilltheone]

If you file a bk, can you negotiate with your unsecured loans a better pay off or reduced payments. We have furniture charged since 2005. One of those no payments no interest for 36 months but we have paid it down from $12,000 to $5000 so far.

In a simple word, no.

Unsecured means unsecured. You can't pick and choose what loans you want to discharge.

Why would you WANT to keep paying on something that will be discharged?

[BassBoy]

If the charge you're speaking of in your post is a furniture charge, then this is not unsecured. Most of the store credit cards state that the items secured the line of credit, therefore the furniture card would be a sceured debt. With these types credit, it's better to not state any intentions (i.e., reaffirm, surrender) and let the BK run it's course. You could continue to make payments for the furniture and you will be able to keep it. More than likely though, the creditor won't want the items back because the items may not be worth the amount owed and you may not ever hear form them and you'll be able to keep the items.

[mintz]

I am talking about our furniture. It is from a company that uses Citi-Financial as their credit company. We have owned the furniture since 2004 and we still owe around $5,000