Home Depot/Citi Financial

[psirasmom]

We are just about ready to file, and I have been answering all of the 800# calls to the house (finally) and giving them the information to get in touch with our attorney. I was actually shocked at how pleasant the representative was from Home Depot - said she was very sorry we were going through such a tough time, there will be no more phone calls to anyone but our attorney, etc.

But after reading some of your posts, it got me thinking. Technically this isn't an unsecured card, is it? I mean, if Best Buy can come back and say, we want that tv, can Home Depot come back and say - give me your chair rails? (haha, a little funny, but you know what I mean). Are the sickly sweet calls from Home Depot really just the "nicey-nice" for now, and then BAM....they want it all back type thing? Has anyone else dealt with them?

[BassBoy]

I would take guess to say that if you purchased something very expensive, like a riding lawnmower, then they could very well ask to take it back. Chairs rails, lumber, paint and items you would cut up or use completely.........don't see how they could take it back...LOL!

[psirasmom]

Good point - I guess we'll just wait and see - god this whole thing is just nerev wracking!

[SinkingFast]

Just a guess here, but,................ Most times when people have been contacted about "Store Card" debt, it's much later after the debt has been sold off. Multiple times, in some cases.

Generally, companies like Bass and Associates don't even have a clue what you actually purchased. They just have a $$ amount of the debt and no list of items. Most times, Bass and Associates, or others, ask the Debtor/Filers to tell on themselves.

And as BassBoy said, paint, wallpaper, and such would be totally different than power tools and a riding lawn mower.

[BassBoy]

LOL! Could you imagine giving back a stack of cut-up chair rails, or 2x4's with nails in them, or shredded wallpaper you had to take down? ROFL!

[alh]

To paraphase a Steven Wright line, someone could tell them, " I have your paint, it's in the shape of a house."

[BassBoy]

To paraphase a Steven Wright line, someone could tell them, " I have your paint, it's in the shape of a house."

Good one! ROFL!

[SinkingFast]

To paraphase a Steven Wright line, someone could tell them, " I have your paint, it's in the shape of a house."

ROFL!!

That was a really good one!! Definitely needed that laugh!!

[psirasmom]

OMG that is great (sorry catching up on old threads) - I could scrape some of the paint that they messed up on off of my wall and bring it to them in an envelope....

[SinkingFast]

OMG that is great (sorry catching up on old threads) - I could scrape some of the paint that they messed up on off of my wall and bring it to them in an envelope....

Throw in some scraps of carpet. Part of a bag of tile grout. Some plumber's putty from the kitchen sink. Maybe a burnt out light bulb.

[psirasmom]

And one of the baby's dirty diapers for good luck?

[KevinR]

Technically this isn't an unsecured card, is it? I mean, if Best Buy can come back and say, we want that tv, can Home Depot come back and say - give me your chair rails? (haha, a little funny, but you know what I mean).

Sure, they can say that, but they'd be lying.

To have a secured debt you have to file the proper paperwork. Like when you buy a car and the bank gets you to sign a bunch of stuff. That gives them the right to legally repossess the property if you stop paying on it.

Without a legally secured interest in the property they are in fact an unsecured creditor. No different than a credit card. They can't repossess the stuff. Unless of course they bluff and you turn it over willingly.

[SinkingFast]

Many Store Cards have a Purchase Money Security Interest. It's either stated in the fine print of the application, or listed in the Terms of Service agreement. Many times, buyers accept the Terms of Service when the buyer makes the first purchase and charges something on the card.

The original Creditor isn't interested in the return of consumer goods and won't spend the money to pursue the Debtor/Filer legally. So, the original Creditor simply sells the debt to a 3rd party collector.

The 3rd party Collector relies on fear of the buyer to pay up or loose their <<insert item(s)>> purchased on the store card.

[Bobby'sGirl]

Sears can have my front door...

...and my kitchen windows if they really want to go to the expense of ripping them out...wonder what the going rate is on 4 year old windows???? Compared to labor costs, of course...definitely a negative for them.

My contract has a similar line in it, but my lawyer says if it is a structural part of the house, don't worry.

[AreSoonParted]

HomeDepot

I'm still a few months out from filing, so I've been reading the fine print on my HomeDepot CC. From what I can tell it's unsecured debt. just like any credit card...Like KevinR stated above, with secured debt there's a bunch of more paperwork involved. I know we got our HomeDepot Card a few years back by giving the number of our MBNA card.

I think your chair railings are safe for now.

Good Luck.