Best Buy Account

[durtaholic]

We filed for bk on 7-28-09 and have the 341 hearing on 8-28-09. Our lawyer just sent us two letters ( two separate accounts ) saying that Best Buy is requesting a reaffirmation agreement. Our lawyer gave us four options.

1. Send them ( the lawyer ) 300.00 each item to negotiate the balance ( 2812.12 ) and (1414.55)

I really don't want to pay the lawyer 300.00 to negotiate a settlement when I can purchase a new one for 600.00. I guess I will have to give that one back.

2. 125.00 for a declaration of non-possession because I do not own the item any more.

I traded on of the laptops to my brother for a guitar a year ago . He lives with me and uses my wireless account for internet service. My concern is that if I say I do not have the laptop, which technically I don't ,will they come after it being my brother has it. Trace the ip address or something and say we do have possesion. I sold the guitar and don't have the money to buy it back from him.


[I]3. I would like request that said reaffirmation to be mailed to me for review and sign, which I will then forward to creditor and I will appear at my hearing that will be scheduled.

Q. Will the creditor reaffirm with a negotiated reduced price, or will it be for the original balance

4. intend to surrender the secured item.

The items in question I believe are laptops.


Has anyone dealt with this before ?

A lesson learned here as well is read the fine print.

I purchased my wife's wedding ring with a credit card as well. She is freaking out that they are going to come cut it off her finger lol. She heard furniture,jewelery, and electronics are all secured items.


Two months ago it was about 3 hours of sleep a night worrying about all of this. After filing and getting a 341 date it's up to about 5 hours a night. Hope it gets better.

Thanks for the valuable info in these posts and hope someone can help with this one.

peace.....

[destitute]

I ran into the same thing with Best Buy. I filed chapter 7 4 days before you did and they sent a similar letter telling me I need to either return property or reaffirm. My attorney actually suggested that we just ignore them. The last item I charged was under $200 and over 6 months ago.

Considering that you bought the laptops over a year ago and no longer have them. Even though your brother lives with you he is the owner of that property and you have no claim to it.

The way I see it they have to file an objection to your chapter 7 which will cost them a fair amount of $$ so will they even bother? It seems like they send these letters to everyone who files to see who bites. I ignored mine.

One last thought. I belive Best Buy is HSBC bank (maybe some other) but the point is that Best Buy the company was paid for these items. They aren't the ones asking for them back. My attorney said that even though they claim items purchased on their card are secured that may not really be the case.

Just my thoughts... ymmv

[downsized]

I'd ignore them, too, since the purchases are a year old. They're just making threats. Those items are worthless to them. They can't do anything with them to regain what it would cost them to recover the itmes.

That said....another option, which is what we did because the tv we purchases was only purchases a couple of months before we filed....is to redeem the debt. Basically offer them $X.xx to settle the debt. That would mean you'd have to have the amount you offer and be ready to pay up though.

Still....I wouldn't bother in your case.

[Kpower]

They cannot trace your laptop by IP address. The IP address is given to your computer by your internet service provider and is in no way related to your hardware.Best Buy has no way to trace it down and even if they did have a way it is not proof of what machine you are using to access the internet only that you have an active account with an isp. So don't worry about that. The laptop is not worth what you paid for it and they do not sell used items in their stores so they do not want it back. What they want is to scare you into reaffirming so you have to keep paying them. Don't be intimidated.

[debtmonster]

I am going to worry about the Sony TV we financed for $3200 back in 2006. Plus we bought a Playstation 3 and charged it as well back in 2007. I wonder if we will have problems with these. The same TV's are now like $1000 or less for a brand new one. We have a 50" HDTV 1080p. It was one of the very first 1080p's to ever come out, and from what I understand, there's some bug in it and it won't truly do 1080p anyway. 720p at best. If they want it, they can have it back. I'd rather have a new 1080p that's thin and not have this rear projection thing that's big and bulky.

These items are in the living room where I am staying now. We rarely ever use them anymore.

[OhioFiler]

I am going to worry about the Sony TV we financed for $3200 back in 2006. Plus we bought a Playstation 3 and charged it as well back in 2007. I wonder if we will have problems with these. The same TV's are now like $1000 or less for a brand new one. We have a 50" HDTV 1080p. It was one of the very first 1080p's to ever come out, and from what I understand, there's some bug in it and it won't truly do 1080p anyway. 720p at best. If they want it, they can have it back. I'd rather have a new 1080p that's thin and not have this rear projection thing that's big and bulky.

These items are in the living room where I am staying now. We rarely ever use them anymore.

You should move those into your BMW and then they'll be safe from repossession.

[debtmonster]

You should move those into your BMW and then they'll be safe from repossession.

I'll just keep them in there and let them repo man take them all. That way I won't have to pay for them if Best Buy comes after me. I can just use that as an excuse that we don't have them anymore. I'll tell them to go track the repo man down and try to get it from them.

Thanks for the idea. You are the man.

[Kpower]

I don't think its a bug I think it is the fact that tv signals are broadcast in 720p. Even the HD channels. Some cable companies have started offering 1080p content on demand though. 1080p requires a lot more bandwith than 720p and bandwidth equates to higher operating costs. The way to maximize your 1080p tv is to watch blu-ray movies. They are in true 1080p format.

That being said, one thing you have to keep in mind is that best buy would have to pay movers to come and get the stuff and they cannot come into your house without your permission so even if you agreed to a pick up time and they came to get your tv and you happened to forget the appt or had an emergency they would be out money. If God forbid, this happened several times they would be inclined to give up I would think since it would quickly become a waste of time. Not that I would condone deliberately misleading them.

[pookieny]

Hah! Is this a new strategy now, making offers for stuff that is going to be included in the bankruptcy anyways?

cheeky, very cheeky especially option #2. Ain't no why in hell would I pay for something I no longer have, especailly if it was an electronic that crapped out on me and I had to replace anyways.

[pookieny]

Now, if that was my lawyer getting a letter like that, he would tell them to stuff it and it's their loss. Of course, if I bought it near filing bankruptcy then they might have an issue.

[music12]

i also think just ignore best buy, but for some reason the OP's lawyer did not suggest that as an option. the lawyer may be money-hungry. suggest to the lawyer to ignore it and see what he has to say for himself.

[debtmonster]

I have no plan on paying additional fees to my lawyer to keep anything. None of the stuff is worth it to me to keep if push comes to shove.

I'd rather buy all new stuff for cash later down the road. And now with us having to move again in the not far distant future, they will do me a favor in a way by taking the stuff.

[Tbornetun]

Ignore the letter. Best Buy has contacted me a few times regarding our clients purchases. I told them to call me when they are ready to repossess the items and we never heard from them again. Your stuff is safe, ignore them. The debt will be discharged. It is up to you (or your attorney) to call their bluff.

[debtmonster]

Ignore the letter. Best Buy has contacted me a few times regarding our clients purchases. I told them to call me when they are ready to repossess the items and we never heard from them again. Your stuff is safe, ignore them. The debt will be discharged. It is up to you (or your attorney) to call their bluff.

SWEEEEEEEEEEEEEEEEEEEEEET!

Thanks for that tidbit of info! WILL DO!!!

[whipster1]

Best Buy has been sending these. I got one I think I had some cables and blank DVDs I dont even remember.

My attorney said ignore.