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**StaciMM** · 10-05-2005, 05:01 AM

Its not possible to sign a reaffirmation after the discharge. You can, though, ask them for a list of the items that they're after, and perhaps make an offer.

**krbkrb** · 10-05-2005, 07:19 AM

But...

We listed them on the bankruptcy and shouldn't they have offered a reaffirmation before we were discharged? They didn't come up with this until after the discharge...

**StaciMM** · 10-05-2005, 07:59 AM

They don't have to offer you a reaffirmation (just like you don't have to sign if they do offer). The BK discharged your obligation to pay them, but it did not discharge their interest in the property involved. (HMM has better words for it, I know I don't know the right term!)

In ch 7, you can 1) reaffirm; 2) surrender 3) redeem or 4) keep paying without reaffirming-though some states won't let you keep it unless you reaffirm.

**krbkrb** · 10-05-2005, 09:19 AM

Okay, I have been doing my homework now. I have read everything about this type of situation I can find.

I live in Maryland. I've read the terms and conditions for their credit card account and why would Best Buy relinquish their interest in my state if the original purchasse price is OVER 3,000 dollars? That doesn't make any sense. I would think if someone went in and charged thousands, if its over 3K they will relinquish their interest?

"17. SECURITY: Except as indicated below, you grant us a purchase money security interest in the goods purchased with your Card. Each good purchased on your Account will secure the entire Account balance until such good is paid in full. For purposes of determining which items are subject to a security interest, payments received will be deemed to be applied first to any unpaid insurance premiums or debt cancellation fees (if applicable), Finance Charges, and fees and then to pay for purchases on the Account in the order in which they were made. When sufficient payments are made to repay the portion of the Account balance attributable to the purchase of a particular good, we will release our purchase money security interest in that good. Goods covered by a security interest may be taken from you if you do not pay on time. We may require you to make them available at a convenient place of our choice. We waive any security interest in your home if the goods are installed and in any goods purchased with credit card checks. We take no security interest in goods where the original purchase price is less than $200 if you live in New York and in goods where the original purchase price is greater than $3,000 if you live in Maryland."Now I am worried that there is some Maryland state law that is going to make it easy for them to do this. It didn't look like a Writ of Replevin costs a whole lot of money in my state.

And what is the deal with the "installed" clause? Isn't a washer/dryer "installed" and a surround sound "installed"....I don't get how that makes a difference.

Would I get a copy of this possible Writ of Replevin beforehand? Of course, I would prepare for the visit...and do I have to let the sheriff in? What if I just say I sold the stuff when I thought I was discharged.

**Minnymouth** · 10-05-2005, 09:33 AM

Since they have a "security interest" in the merchandise you purchased, they will contact you if they decide to pick it up and/or have you surrender it. More than likely they won't do that (waste of their time)...besides the items you purchased now become "yard sale" material. Garage sale price is the best they can hope to get out of it in a resale....
Sometimes they come after stuff - most of the time NO...
Wait and see what happens....

Keep us posted,

Minny

**krbkrb** · 10-05-2005, 10:00 AM

No, the items I got are large (3) large items....but not over $3000. I am not talking a bunch of little stuff here...I am talking appliances that are still in super good shape. They are only 2 1/2 years old!

The problem is, I don't want to give my stuff back...I would have kept paying on the stupid account but the attorney said that wasn't possible to omit the debt.

I am going to have a sh8t load of problems I don't need if they come and get the stuff. Its not all about luxury either.

**StaciMM** · 10-05-2005, 10:42 AM

MOre than likely, there are regulations that prohibit them from taking back 'installed' items and perhaps items over $3,000 in MD require something additional to secure an account.

Even though the account had to be listed in your BK, you could have kept making payments. Perhaps contact the original creditor and see if you can back to making monthly payments?

**spooby72** · 10-05-2005, 11:08 AM

Don't stress...

You did good by including the debt in your bk and not reaffirming. If your items are 2 1/2 years old then they are most likely of little or no value to your lender. It will not be worth the cost of collecting the items so they will just show a loss.

You have to remember the HUGE markup in consumer goods and there is not much of a market for used consumer goods.

Don't pay them any payments, they will be discharged and if they contact you in the future it will most likely be a "scare" tactic...I have heard of these companies setting an actual appt to collect their goods and never show...they may go that far. Wait until the last possible chance and then offer them current, wholesale or yardsale, market value for the items.

95% of the time its not worth their expense.....

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