new and now worried

[bxtzd3]

ps my spelling is as bad as my debt. sorry bout that.

[NowOrNever]

Just thought I'd add our experience with Yamaha. Note that this was OUR experience, yours may be completely different.

We had a dirt bike financed on an HSBC backed Yamaha card. Never had a late payment and had about 12 months left on it when we filed. We wanted to keep it, as it was our son's. It was considered a secured asset.

I always made my payments online. As soon as we filed CH7, my payments were no longer able to be made online, which is normal, and I didn't receive any statements, also normal. So I continued to mail the payment to them throughout our CH7 to the address on one of my old statements and figured I could use the cancelled checks as receipt of payment. I would say within a week of our discharge, I received a letter from a collection company demanding return of the bike or full payment. The bike was in excellent condition, only about a year old and I didn't want to take the chance of them coming to take it, not to mention explaining it to my 8 year old. So I called them. They were willing to settle for about $115 on the remaining balance of about $800. We payed it, they cleared the title, we kept the bike and all is well. I know some folks say to ignore the collections folks, but it was our only collection experience and I just didn't want to take the chance of losing it.

Don't transfer it, though! Good luck to you!

[B12]

Great idea for this has been an ongoing guess about the cash.
Mine says no, it's not income, same as my home equity draw into my account as cash is not income. I was really concerned about both.

Everyone try to ask your lawyer so we can get this clarified once and for all. Would be of utmost importance to many.

[B12]

LOL BXT on the spelling. My very first career was as a HS English teacher and I can assure you that spelling has nothing to do with intelligence. Some of the most successful people I know can't spell!!!

But, I must say that I get a chuckle every time I see my two pet peeves here at the boards. Using the word "loose" instead of "lose" and spelling sepArate as sepErate.

All in all, spelling in my book is totally irrelevant, or is it irrelevent?