Re: Purchase Money Security Interest and BK

Posted by LadynRed (68.52.127.174) on May 16, 2004 at 13:02:42:

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

Yep, just like Sears (used to) and Best Buy does now, they hold a 'security interest' in whatever you buy.

Ignore their stupid reaffirmation demand, you do NOT have to do this and the court would likely NOT approve it anyway. If the debt to them is not reaffirmed, it will be discharged and there's not damn thing they can do about that part. The COULD file and objection with the BK court, but its unlikely - it costs them money.

They can huff and puff and blow smoke, but in the end, once the debt is discharged, the ONLY way for them to recover the jewelry - which isn't even YOURS at this point - is to file for Replevin AFTER your dischage. A replevin action will cost them even MORE money, and unless thats one whopper of a piece of jewelry, they're not going to go that far to get it back.

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