Creditor showed up!

[tobee43]

In this case, the merchandise is worth almost nothing at this point to Best Buy. This is a scare tactic on their part. I would've just said to them at the 341 meeting, "you want it, you've got it." I wouldn't pay them a penny for it. And this way, whatever it cost them to send someone there to the meeting was an absolute waste for them. All they would get is worthless merchandise back.

It reminds me of when some very agressive debt collectors show up at debtor's font doors to talk about their debts. It is not a cost effective way of doing collection business (which is why they prefer using nothing but phone calls), but it sure shakes up and scares the debtor.

not only that, but having the atty show up costs bests buy just about as much as what the stuff is worth. makes NO sense!

[mdl]

Best Buy (Bass and Ass, I like that!) filed a $7500 claim on the LAST day for objections, and sent reciepts for just about everything we had purchased over the last 5 or 6 years. Our attorney amended our plan to include them as a secured creditor for $350.00. They didnt file anything else and we got a letter from the Trustee approving them only for that amount.

[nohoneymoney]

Sounds like Best Buy got greedy and your attorney pushed back. Given your description of the merchandise, $350 seems generous. I am confused how this works out going forward. Does this mean you owe Best Buy $350 or are you exempting it or are you telling them to come and get it? I don't believe you can discharge secured debt. Just curious.

[mdl]

Our attorney offered to accept a secured claim of only $350....which since they didnt reply to, the Trustee accepted our amount, so we only pay them $350 thru our 13.
I may not be using the correct language, but thats all they get - $350

[helpmeout]

Personally, I would clear off all personal information on the items that they requested make the $200 offer. Make it clear that this isn't a negotiation as the debt is being discharged and the items are used. You can go out and get new items for the amount they want for them, it's a take it or they repossess the items. Oh, and let them know that they will have to be the ones who pick up the items, you are not bringing it to them.