Purchase Money Security Interest and BK
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Posted by Gerbil
(68.243.43.255) on May 15, 2004 at 23:51:46:
Hello, I'm in the middle of a CH7 BK right now, filed pro se in April of this year, and got a letter from a creditor - jewelry credit card, claiming they have a "Purchase Money Security Interest" in jewelry I purchased from them. I bought a gift for my ex-wife in 12/1999. As part of divorce decree in 7/2001, she was awarded the jewelry (all personal property in her possession was awarded to her.) The creditor wants me to reaffirm this debt, or surrender the property. Problem is, I no longer have the property per the divorce decree, and as far as I know, no legal right to it. The amount in question is only $145. Should I just pay this, or not? I don't want to, but I don't want any complications in the BK either. What can the creditor do to recover from me with a Purchase Money Security Interest? Thanks,
--Gerbil
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