Best Buy wants me to re-affirm

[jalex]

I agree, if they want this old obsolete crap, they can send someone out to get it. I just hope whoever they send has a good list of the junk they want with the serial numbers, because I honestly don't remember what card most of this stuff was charged on. (Depression does absolute wonders for your memory!)

I'm waiting for my letter from Bass and Associates, to see how much they want to charge me to reaffirm this stuff. I could use a good laugh.

[ned2010]

If Best Buy wants to come and get our washer/dryer, they'll get it--after I run a load of limburger cheese through it. And if the furniture store wants the couch & chair, the cats will have a pee-pee party on it first. :-)

LOL LOL LOL LOL LOL LOL I'm with you!

[goneunder]

This may be of interest to you, last year a coworker of mine filed chapt 7 and had a TV and surround sound purchased from BB. They followed the same steps you outlined in your post. He said to them that the TV was 4 years old and huge and heavy, you want it come get it. Well not to long after that some sort of appraiser called him to set up a time to surrender the items, he did not want them in his home so he and I moved this monster TV and sound system out into his garage. The BB rep. showed up in a Honda, he was an old dude all alone, looked at the stuff, photographed it, filled out some form assesing the value at zero, gave him a copy and left without the stuff.

[ready2live]

hahaha, glad I called their bluff to!

We did have to reaffirm furniture from a local store through Wells Fargo. It was purchased in January. Their atty came to the 341.

[coolmom04]

They were bluffing....have not heard a word from them...

Good for you for calling their bluff!

[sophia]

They were bluffing....have not heard a word from them...

[Tbornetun]

I have dealt directly with BB on at least 4 of our BK cases. They try to get you to sign a reaff, but as soon as you tell them come get the stuff instead you never hear from them again.

They send a letter asking you to reaffirm.
You respond with requesting an itemized list of what you purchased, specificly what is securing the debt.
You don't hear from them again.
Once the BK is closed, it showed on your credit report as discharged.
They WILL NOT come get your stuff.

[dingdong]

Excellent explanation Ding Dong!

Thank you. Sad that I know so much about credit when I have absolutely none!

Can't even get a Crap one 300.00 Your Credit Sucks card for rebuilding. DENIED! ( just got the denial in the mail today-thought they might show a little mercy)

One of their reasons for denial was lack of revolving credit. DUH!

Not trying to get into debt, just want to improve my scores so I can buy a house in a few years. Oh well, back to creditboards for some more credit repair tips.

[StartingOver08]

Excellent explanation Ding Dong!

Pookieny, look up Purchase Money Secured Interest or PMSI if you are interested in all the gory details of the security interest that Best Buy and some of the other retail cards have in the things they sell.

I agree with all of the others, its a bluff. Call their bluff - see if they actually come pick up your stuff after they say they will. One poster on here had a $40,000 piano that the creditor never picked up! Can't imagine that the washer and dryer would trump the piano, but you never know!

[dingdong]

But I do know someone who had newish furniture with Penneys and computer with Sears financing and they did not go after them to return.

Most creditors with a security interest don't bother, as it is usually more trouble than it is worth and the secured property usually depreciates quickly with time.

You may have been confused by what your attorney may have asked you regarding secured property and BK petitions.

Generally only real estate and autos are listed under secured property on petitions. There can be some exceptions, but those would probably require special filings to make the property secured.

Most people don't even realize that store brand cards (like Best Buy) have a security interest clause when they use them. But you generally sign an acknowledgement stating such at time of purchase or the agreement is written into the original contract for credit when you apply.

Things you buy with a regular MC/VIsa etc are not secured.

[2live]

I just had to write and say I'm with the others who say they're a most likely bluffing to see if you'll bite. I also had a flat screen, computer and washer/dryer that I purchased with BB credit card about 1 1/2 yrs ago. They never once contacted me and of course didn't show at the 341. My atty had said they wouldn't.

What the heck if they come and take yours don't worry, you'll soon be able to upgrade to better stuff.

[pookieny]

But I do know someone who had newish furniture with Penneys and computer with Sears financing and they did not go after them to return.

[pookieny]

Ok, sorry- I was thinking things you buy with a credit card are unsecured.

mybad!

[dingdong]

Certain CC, such as Best Buy have a security interest in items financed through their personal finance products (BB Card) not BB Visa.


Sears does, BB Does, most of the furniture stores, etc.

One can even make an item secured, like lets say an expensive piece of farm equipment, by UCC filings.
So yes, there is definitely other things than Real estate and cars that are secured property. Depends on how and what agreement they were purchased with.

But I am an underpaid waitress, so ummm, you may want to ask another overpaid lawyer.

[sophia]

Nope, heard it directly from my lawyer, a paid professional.

Well then I guess there is no need to direct you to the posts I found on here about Best Buy and posters being asked to surrender their purchases that were not reaffirmed after their discharge.