Should I continue to pay Best Buy, or stop.

[optimistic1]

I asked my attorney the same question, he just said that we are going to treat them like a un-secured creditor.

And then he went on to say if they file as secured, we will then treat them like a secured creditor and give them the full amount owed.

I told him that I wanted to file a motion to value of the secured claim, I dont own everything I bought from them.

So the question is, I am not going to file until about 8 months from now.

Should I continue to pay the Best Buy account?

Or should I stop and let them start to harrass me about giving them the merchandise back and just simply ignore them.

Which company is more likely to file the secured claim??

HSBC, who issues the credit, or the CA that eventually takes over the account?

[filingin08]

We owed Best Buy for a laptop and kitchen appliances. We stopped paying almost 10 months before filing. They never asked for anything from us. Our atty listed the value of the items as secured, the rest as unsecured. We're still not confirmed - an issue with an ex-spouse, not because of anything with Best Buy.

[HHM]

Yeah, you are worrying way too much about this. It really doesn't matter how "they" file their claim.

Stop paying them, you will be fine.

[optimistic1]

Ok HHM, I will stop paying these leeches. My attorney better file a motion to value though, Im not paying the full $1500, if he refuses, I will fire him. LOL. Thats what one attorney told me, if you dont like me, fire me. Its your money he said.

[HHM]

Your attorney doesn't need to file a motion, all he needs to do is list the value of the item in your petition and let Best Buy dispute it. If Best Buy files a proof of claim that lists their claim as 100% secured, then you simply object to the proof of claim.

[optimistic1]

Gotcha, I am taking note of that. And I will forward this information on to him. Thanks HHM, your the best.

[HHM]

The only time you really need to file a Motion to Value a lien is in a chapter 7 where you have dischargeable income taxes but the IRS (or taxing authorities) has filed a Tax Lien.

Otherwise, you can usually address the issue by stating the value in the petition, properly bifurcating the debt in your petition, and objecting to the proof of claim filed by the entity.

[optimistic1]

Where would the value be stated at? When would the creditor file a proof of claim.

[HHM]

Where would the value be stated at? When would the creditor file a proof of claim.

The value would be stated on your schedule of Assets. If you no longer own the item, then you don't list anything on your schedule of assets and simply put the debt on your schedule of unsecured creditors. If you still have the asset, you list the value on your schedule of assets and list the secured portion on your schedule of secured creditors, and the unsecued portion on your schedule of unsecured creditors.

If you are not filing for 8 months, why bother your attorney about this now?

[optimistic1]

Why not bother him, i'm paying them $4000, and no offense, but why do you make people feel stupid?

I have lots of questions, and regardless of when I am filing, if my attorney doesnt like all these questions, then I will fire him and go hire one of 100's of other attorneys.

I will tell it like I told my last attorney, im not paying you to just fill out the petition, Im paying you to answer all of my questions and concerns. If thats what I would be paying him for, I might as well just go buy some books and do it myself using Bestcase.

I want to make sure that my payment is as low as possible, and, if I let them just get paid $1500 on a secured claim without bringing anything up, then they get the full amount. Right?

Its funny and sad at the same time, I always feel like I have to defend myself on here, just because I am not as keen as everyone else is.

[sassiebaz]

Why not bother him, i'm paying them $4000, and no offense, but why do you make people feel stupid?

I have lots of questions, and regardless of when I am filing, if my attorney doesnt like all these questions, then I will fire him and go hire one of 100's of other attorneys.

I will tell it like I told my last attorney, im not paying you to just fill out the petition, Im paying you to answer all of my questions and concerns. If thats what I would be paying him for, I might as well just go buy some books and do it myself using Bestcase.

I want to make sure that my payment is as low as possible, and, if I let them just get paid $1500 on a secured claim without bringing anything up, then they get the full amount. Right?

Its funny and sad at the same time, I always feel like I have to defend myself on here, just because I am not as keen as everyone else is.

I agree with you optimistic. Isn't this a BK Forum??? Don't people ask questions on this forum? What's with that anyways???? If people don't like your questions, (or mine) then don't respond!!!!!

[optimistic1]

Well I have to hand to HHM and the other moderators, they know their stuff, but, that shouldn't mean that they can be condescending to people that are just looking for help.

But I dont make the rules, so.

[mgmadara]

I have read this thread numerous times and still can't find where HHM was condescending towards anybody.

[filingin08]

I have read this thread numerous times and still can't find where HHM was condescending towards anybody.

Agreed.

Also, as to why questions aren't answered, maybe no one has had that particular experience. I've had questions go unanswered, but I never felt slighted. I would rather have someone who had "been there, done that" and could giver real life help.

[optimistic1]

Buy yourself a reading comprehension book then.

And the question was answered by HHM, although he/she made me feel like an idiot because I was going to "bother" my attorney with a question, taking into account that I am not filing for 8 months. Why should it matter? Im paying them $4000, I can ask them questions all I want, they even told me that. Although, I like to see others insight on the forum, without condescension. Call it what you will. Im done.