Quick question

[sealpup]

We are in a contract until the spring of 2011 for our home alarm monitoring. Right now we are behind probably by around $100. Planning on filing a ch. 13 within the next few months. Can I put this in the bk? And if I do, then what happens- I just have to keep up with the monthly payments? I'd prefer just to get rid of the contract, but don't know how. We don't even use the silly alarm and haven't for a year b/c their faulty equiptment caused me too many false alarms and now I have to pay the sheriff's dept $100 if I want them to keep responding to alarms at my house!

[lrprn]

When your 13 is filed, the alarm company debt is likely to be listed as a secured asset (secured by the physical alarm system installed in your home). Do you have the original contract to verify if this is the case or not?

If the alarm system is an asset debt, then the 13 filing forms will indicate your willingness to surrender the alarm system. The alarm company may decide to file a claim or not. It's impossible to predict whether the company will file a claim or not. There's really no consistency to base a guess on.

Discuss with your lawyer when to stop making payments to the alarm company if you haven't already. If you haven't selected a lawyer to file with yet, then add this to the list of questions to ask during your 3-4 free initial consultations with experienced Ch 13 lawyers in your area. Good luck to you!

[despritfreya]

Your alarm monitoring contract is an executory contract listed on Schedule G and "rejected". You return what ever equipment is being "rented" and move on. Debt gone.

Des.