Purchase money security interest

[Tman]

I am just wondering if anybody knows about PMSI on a CC purchase. Last year our washer broke down, so I went to Sear and got a new one on a 12 SAC plan. The balance recently came due. I paid it in full earlier today, because I will probably be filing soon. I thought my wife was on the account and she is not filing, so I thought I was paying off a joint account. The balance was only $420. It turns out my wife isn't on the account afteralll. I am thinking of making a Stop Payment order on the check and just including the debt with the rest of them, but now I am concerned that they may have a PMSI on the washer. I know it isn't much and I could give them the washer and buy a new one, it's just that I don't want the hassle.

[tcreegan]

Sears used washer PMSI

Hello Tman,

My thought is throw it into the BK; I seriously doubt Sears wants a used washer. Are they going to file for a relief from the stay, objection, whatever, take the legal steps your state requires, send out a couple guys and a truck, etc. to get their used washer back? I don't know about your area, but around here used washers go for $50 to $100 bucks max. Definitly not worth the effort.

The situation w/ PMSI items seen most often on the forum is...
#1. They try to make you pay or reaffirm the debt w/ scary legalese documents.
#2. You never hear from them again

Good luck with your BK,

Tom in Colo

ps: you should get some legal advice on the joint accounts; might turn out that the comm. prop. laws in your state allow a joint acct to be discharged (for both of you) in the BK even if only one spouse files. I've seen conflicting info on the forum, but a local attorney probably can give you the straight answer.