Question: Dell

[JRScott]

Okay hmm in my first thread I mentioned I have this 3 year old computer that I owe DELL Financial more than it ever started out being.

I'm curious, does anyone know if DELL considers the computer a secured debt, because I"m pretty sure its not worth what I owe on it.

For example the Monitor died around February 25th of this year, and the mouse was replaced long ago. The keyboard hangs up now and then.

Thanks

[jal1129]

Yes, Dell is secured.

[JRScott]

Thanks

I can't find my original papers on it , and I looked over their website and couldn't find it stated. I didn't really want to email them asking....since that would kinda tip what I'm planning to do.

This means its my only secured debt.....

[HHM]

If this is 3 years old, isn't it mostly paid off...

In any event, it is a SECURED DEBT, but given how old it is, you should treat it as an UNSECURED debt. They are not going to want to Repo your computer.

[JRScott]

Sadly not

No its not really paid off

In fact I owe more money on it now than I did when I first got it in April 2004. Part of that is because I've made several late payments and thus got some late fees, and some overthelimit fees. Also last year they bumped up my interest to 29.99% due to the late payments and my credit score.

So I owe around 2000 dollars on it.

You say you'd count it as an unsecured debt on the bankruptcy though. I realise that the computer isn't worth anywheres near that, with the monitor shot its probably worth less than 500 dollars today.

[ilovemycaitybug]

No its not really paid off

In fact I owe more money on it now than I did when I first got it in April 2004. Part of that is because I've made several late payments and thus got some late fees, and some overthelimit fees. Also last year they bumped up my interest to 29.99% due to the late payments and my credit score.

So I owe around 2000 dollars on it.

You say you'd count it as an unsecured debt on the bankruptcy though. I realise that the computer isn't worth anywheres near that, with the monitor shot its probably worth less than 500 dollars today.

I hear you about Dell... we had a Dell Financial deal (with the same outrageous interest) and at minimum payments I think we were barely even paying interest! So we transferred the balance to another, lower interest CC. I should have known when we were approved (hubby had no credit at the time but they still gave us 1500 in his name only!) that it was a bad deal. I'd say let them try to get it. Sounds about time for a new one anyway!

[JRScott]

Thanks

Thanks for the replies.

Yeah at the time I thought this was a good deal, but then my finances got in worse shape.

I've made no real gain, of course at this point there is no way for me to transfer the balance to a cheaper CC. What's funny is I get 2 or 3 credit card offers a week still and I just shake my head knowing my financial circumstances. I just can't believe they keep sending you offers.

Heck DELL even sent me a new catalog last week. I flipped through it and chuckled.

[lrprn]

We filed Ch 13 ten months ago and hubby and I *still* each get 1-2 credit card offers in the mail a week, including cards from companies that were included in our bankruptcy. Now we know what all our 29% interest hikes and late fees were funding....grrrr!

[JRScott]

If corporate america was a bit more responsible

Yeah I know whatcha mean like I was saying. If corporate america was a bit more responsible we all wouldn't be headed to bankruptcy.

I get to meet my lawyer on Monday. I"ve got most of the info gathered. Probably a few things I've not thought about too.