Best Buy wants me to re-affirm

[plisar]

It's also a mattress. They have very little resale value. Why would they bother sending a truck to your house?

[Mi Bankruptcy]

We BK'd sears and they never came after us. Your purchase was 2 years ago. I wouldn't worry about it.

[CreditCretin]

So, if we bought matresses from Sears two years ago, and used a Sears card with the special financing, can I expect to possibly hear from Sears on this? We made small payments on the account every month, just missed our last payment with them and saw the 900.00 interest charge added to the account as a result of that. Just curious what are the chances of Sears wanting to take two year old used matresses?

[Mi Bankruptcy]

BB tried that crap on me with a 3 year old computer and 5 year old cam corder. I said come and get it. They never replied

[freeatlast98]

What BB has (and many other store cc's) is a Purchase Money Secured Interest in the items that you purchase on their cr card in their store.

Look here for a definition: http://www./2007/08/14/what-is-a-sec...rity-interest/

So technically Sears,BB etc could come and pick up anything you purchased in their store?
How often does this ever happen?
Also, if you listed the purchased items on you Schedule C exemption form, wouldn't they be protected there anyway?

[StartingOver08]

What BB has (and many other store cc's) is a Purchase Money Secured Interest in the items that you purchase on their cr card in their store.

Look here for a definition:

[freeatlast98]

If BB cc is a secured creditor, does that mean anything you purchase in their store is considered a secured debt. Items such as DVD's, CD's, modems, cables etc. Doesn't make sense to me. If that were the case wouldn't places like Sears that sells things like appliances and also clothes and everything else also have the same right. This just doesn't make sense to my in any way.
I would think that for BK purposes, they are considered unsecured. I think they just want to bluff you so you'll pay them and would never come and take back the stuff.
I'm curious if others have experienced this. I'm totally confused!!!!!!!!

[StartingOver08]

Ohhhh. Here we advise everyone to download their online pdf statements while they are current prior to filing BK.

I did not know that you did not do that...it is a hard lesson for you to learn this way.

Since you can not show proof - go the opposite direction and make them prove to you that the funds owed on the card belong to the large items. Or just surrender (play hardball). Or offer a small amount. Your options are limited without proof.

It is a business decision at this point. Is it worth it to keep the items or not?

[svargas28]

Best Buy

IMO, if it were me, I would have the proof that it was paid off except for the video games (statements from them showing zero balance prior to the purchase of the video games).

Then surrender the games! What can they do? You paid off the other items and you have proof. They just rely on you being afraid of the process and agreeing to $X.

As to whether they can do it or not - they can be aggressive with collecting their security interest it is up to you and your attorney to point out the error of their ways. That is what your attorney is paid to do...

How can I show proof via statements if we did all of our billing online and did not receive paper statements? They have locked us out of the website.

[StartingOver08]

IMO, if it were me, I would have the proof that it was paid off except for the video games (statements from them showing zero balance prior to the purchase of the video games).

Then surrender the games! What can they do? You paid off the other items and you have proof. They just rely on you being afraid of the process and agreeing to $X.

As to whether they can do it or not - they can be aggressive with collecting their security interest it is up to you and your attorney to point out the error of their ways. That is what your attorney is paid to do...

[svargas28]

Best Buy wants me to reaffirm

Best Buy sent an attny to our 341 meeting and told us that we need to reaffirm or they are going to take back our 2 flat screen tv's, computer, laptop, etc. They had every purchase going back 3 years that we made. The card was paid off twice and the last large purchase was an 18 month no interest and that was paid off before we would be charged the accrued interest. The only thing left is video games, a digital camera, and a webcam. My attorney said they would still try to collect on the big ticket items even though they were paid off. Can they do that?

Shannon

[whipster1]

I got one of these letters, asked them for a list of items, never heard another thing. All BS IMO.

[gimpymacc]

My wife and I also filed Chapter 7 and had 341 on Nov. 24th no creditors showed up, but HSBC has contacted our attorney for a cash settlement on the TV (bought May 09) and the CPU (bought Jan. 09). We made a small cash offer, but have not heard anything about it since.

[BKdinOhio]

Best Buy themselves (like most retailers) don't have any actual interest in athat are paid for by the "BESTBUY" card. It's actually a Credit Card issued by a bank (usually for BBY it's HSBC) that can only be used at that retailer. Best Buy get's their money, you pay the CC Company.

So no Best Buy won't come for these items. Given that HSBC or their attys seems to have no interest in most of this stuff seems highly unlikely they come get it.

[munchkn813]

Yikes! Glad they didn't come get it! We have a big screen on our BB card from about 3 years ago that I know DH would be upset to loose. The store our furniture came from a few years ago went bankrupt and closed so I think It's safe to assume we are good there :p