JK? what did they do in yours?

Posted by catballou (4.14.160.44) on May 16, 2004 at 11:57:00:

In Reply to: Purchase Money Security Interest and BK posted by Gerbil on May 15, 2004 at 23:51:46:

only speaking for me and for texas, since no one else has picked this up yet. here, we had a hearing where all creditors had to show up and claim any property back they wanted. if they didnt, and only one did in the whole 6 cases that day (a commercial loan at a bank with trucks as collateral) i was told zales was SOL..and i dont mean statutes. lol. they tried later to make me return it and the lawyer said i didnt have to. now they just dont want to change my rating on the credit report as they still have me charged off.
ask a lawyer about your state..or look it up online. diff states have diff procedures..texas has a hearing for them to re- claim their stuff. they miss it..their done. zales is owned by citi-bank...isnt everything i deal with? they also sent me the same letter but it was a year later, lol. check on your laws on this one. if its texas, i would say you will see them in court. if not, they lose. its a small amount tho so if you have to pay, its not too bad.

i think they all say that when there is property involved. here, sears will show at a small percentage of cases and take back appliances, etc and then leave the others. makes no sense. wait and see if they show at the hearing..i know there is procedures in every state for them to re-claim the collateral.

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