Hearing Aids bought with GEMB credit...

[brokeasajoke]

My oldest son started loosing his hearing in a drastic decline back in the summer of 2007. We ended up getting hearing aids for him and they were purchased using GEMB's "Care Credit Card." This is the only charge ever purchased on this card.

After reviewing their T&Cs it looks like they have a "secured interest" in the hearing aids. My attorney is suggesting I continue to pay for now, that's fine, we're planning to file CH7 at the end of July so that is one payment, due now.

Going forward though, after BK filing, how would this work. I'm guessing it is much like a furniture store card in many respects... If I stop paying after filing, what would their process be in reclaiming the hearing aids? I absolutely would not want to give them back and suppose I could continue to pay the debt if I had to.

Any thoughts on this type of situation?

[aces67]

Hmmmm I don't know. Can they even be sterilized to reuse them? I only ask b/c my grandfather just looked at a set that was $10K. They told him that if they don't work there are no returns on them.

[Trixie007]

Hearing aids are a fairly personal device - it's not like they can re-sell it! My guess is you'll be fine. It's not like it's financed through a local biz either, so I think that's in your favor.

[justbroke]

Besides, if they came to reposess the device, just call the local news and do a piece on "Banks Bailed Out, Yet take Child's Hearing"... story at 11.

[liz417]

I think you should list it in your bk, then see if the cc disputes the items/hearing aids (don't know if they will, is there even a market for used hearing aids?!?) at that time you should be able to renegotiate the balance due (if it comes to that, I doubt it).

Good Luck!

[2manybills]

I have a GE Money Bank Select Comfort account, my atty said list it as unsecured and let them come at us. Do they want a bed that has been slept on for 2 years?

[liz417]

I have a GE Money Bank Select Comfort account, my atty said list it as unsecured and let them come at us. Do they want a bed that has been slept on for 2 years?

They can have it! Just make sure you let the animals on the bed before you give it back!

[2manybills]

That's what I'm thinking - I'll buy a new bed.

[brokeasajoke]

I'm thinking she (the attorney) is playing it safe right now and/or using the "secured" credit as a boost in the means testing... I don't know that for a fact but that is my guess.

I guess my question really is would they need to dispute the item if it is listed as secured or does that listing automatically mean I either redeem, surrender or reaffirm?

I might just be reading to much into the whole deal....

[brokeasajoke]

Besides, if they came to reposess the device, just call the local news and do a piece on "Banks Bailed Out, Yet take Child's Hearing"... story at 11.

Now that would be great story wouldn't it? He is also mentally handicapped. The media would have a field day with that. Given the 22% interest I've been paying on it, I almost feel like doing that now. It's highway robbery.

I seriously doubt there is a 2nd had market for used medial equipment anyway so I'm not sure what good a repo would do for them, besides pure spite.

[whipster1]

Hearing aids can't be re-used. They can be sent to a third-world country but they really have no value once sold here in the US. A buddy of mine who sells them tells me this.

Unsecured, baby

[brokeasajoke]

Hearing aids can't be re-used. They can be sent to a third-world country but they really have no value once sold here in the US. A buddy of mine who sells them tells me this.

Unsecured, baby

I doubt a 3rd world country could do much with these, they are programmed through a USB port @ the audiologist. No manual controls or anything, really nice set actually.

[whipster1]

Actually what my buddy does is once a year go to Mexico or central america and give away theirs and other local companies returns, they re-program them on the spot, after testing the people who got in line in time. My buddy gets a huge tax write off and loads of publicity for his business.

[brokeasajoke]

That is a pretty cool deal. I'll have to check the next time I'm in the ear doc and see if they do that. It's funny, folks with hearing aids are very interested in one anther, just like anything else I guess, but you always know when someone gets a new set. I know of about 5 "old" sets off the top of my head that are collecting dust in a dresser drawer. Would be good to get to be able to pass along a way to donate them to someone who needs them elsewhere.

[Rick9972]

I wonder if the lawyer could strip the "lien/secured interest" much like what happens with loans secured by personal property? I would think it does not get any more personal than a hearing aid.