How soon after you file do creditors ask for stuff back that's secured? I have jewelry on a Helzberg Card and a Sleep Number bed that's considered secured although they are listed as revolving accounts on credit report. They were listed as surrender on the statement of intent. I had my 341 on Nov 30. Do they wait till after discharge? Or is there a time limit for them to ask for it back? I thought I would have heard something by now I filed in Oct. Thanks
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First, the creditor has to file a motion to lift the stay. Depending on when they file that motion, have the hearing and have the motion granted, it's hard to say when the exact timeframe may be. Some creditors could have the stay lifted shortly after your 341 and some may wait until sfter your discharge (the stay is automatically relieved after discharge). It really depends.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation. -
They may not even ask for it back!
We had a Gateway card with two fairly new computers - never heard a word - still using the computers.Comment
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how common is that? for them to not ask for it back?Comment
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Originally posted by heatskol View Post
We were supposed to surrender DH's 4 wheeler. No one has contacted us about it yet. Course since we seem to be paying for it anyway, I would probably have a hard time letting them get it. But in our BK paperwork it did say we were surrendering it.Chapter 13 filed -8/12/04
Plan approved- 7/11/05
Date discharged--10-12-2007
Date closed- 12/6/2007:yes2::yes2:Comment
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After Discharge
First, the creditor has to file a motion to lift the stay. Depending on when they file that motion, have the hearing and have the motion granted, it's hard to say when the exact timeframe may be. Some creditors could have the stay lifted shortly after your 341 and some may wait until sfter your discharge (the stay is automatically relieved after discharge). It really depends.
You mean AFTER DISCHARGE they can go after your junk???
When I filed back in the 90's the creditors contacted me on the phone and wanted to know if I still had some of their junk (I was into Stereo Equipment THAN .. nothing really high end though $100 bucks here and there) I told them I sold in a garage sale! End of Story. No creditors showed up at my meeting and if they did, they were too busy talking to others. Meetings were different than, they seemed to be so much quicker, not even having to sit down or have those cccs classes, etc. you know !
CatchmeifyoucanLast edited by CATCHMEIFYOUCAN; 12-13-2006, 01:56 AM.July 2006: Filed Ch13 :blink:
Oct 2006: Converted to Ch7 :clapping:
Jan 2007: DISCHARGED :clapping:
Nov 2007: CLOSED :yahoo::yahoo::yahoo:Comment
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[QUOTE=CATCHMEIFYOUCAN;75607
You mean AFTER DISCHARGE they can go after your junk???
Catchmeifyoucan[/QUOTE]
Yes, they can go after it if it's secured (i.e. store credit card), especially if the item(s) are high end item(s), like those plasma T.V.'s and electronics which may have been purchased shortly before filing. They may still be value to these items, especially those 55in. plasma T.V.'s that I've seeen advertised for $3000/$4000.Last edited by BassBoy; 12-13-2006, 09:08 AM.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.Comment
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