C7 Interview?

[LAKERHIGH]

I'm filing in April (C7) and in late December I bought a DELL laptop for $735 for a friend of mine who was to pay me in full when I received the first bill for the computer. He never paid (I tried and tried, but to no avail, he just gave me story after story) and has the computer while I have made the the last 3 payments. My attorney has a question listed in the forms that I will have to fill out that says "Does anyone owe you money?" I believe the trustee might ask this also. Should I list that a friend owes me money for the computer or should I just let it go by saying NO. I just to not want to open a can of worms.. Thanks so much

[keepmine]

I'd just let it go.

[rfassett]

I vote for full-dsiclosure and then let them (trustee and creditor) decide how to handle it. I have been through a two hour show and tell with the DOJ and am glad I did not have to explain that I did not want to put something on the petition because (fill in your own reason).

[magyar123]

I wouldn't mention it either. If you do you will have to re-figure your disposable income. While you may never get the amount owed you, hardassed trustees would consider this as future, extra income.

[One Half Full]

I think you should tell the friend that your lawyer wants to know and that the trustee can actually go after him possibly requiring a payment in full. Being an officer of the court, he can't really do much. This might make him tuck his tail in between his legs. Try to make a doable monthly plan, like 50 bucks a month. By not paying you, he is essentially stealing this object. A theft of a 700 computer might be considered a felony in some states.

[PaKettle]

I'd let it go. Just consider it not a debt owed. Later if you want you can re-consider it.

[robivi3]

Well, will a question come up as to the computer's whereabouts? Otherwise it may just add a complication which you do not need. On the one hand it's one of those Judge Mathis cases, he said she said.

[oldbaddebts]

I vote for disclosing that it is owed. Unless there are other "assets" for the trustee to go after, they are unlikely to go after it. Two reasons to disclose it:

1) Looking at a petition as the only way the Trustee knows you, there are a few things that say "this person is being honest and thorough". This is one. For minimal risk, you give the impression that you are taking the paperwork serious, and it appears less scrutiny is required. (This is the only reason I listed a family member as a creditor)

2) IF Dell decides they want the laptop back, they can go through the process to do so or ask that it be reaffirmed. The Dell account is secured, if they choose to act on it. If they decide to, and you don't list it, you may be opening a can of worms. I believe I have seen posts where Dell can be a pain. My computers were several years old, so I didn't hear a word from them.

[epiphany]

I think oldbad answered this beautifully.

I would tell the truth and would like to add one more reason for doing so.

If you don't, you are going to spend the next three months stressing about it if you are anything like me. The truth shall set you free.

If you are doing a chapter 7, and they want the money owed to you, give it to them gladly if and when you get it.

Oh yeah, and some friend you got there. Sorry about that.

EP

[LAKERHIGH]

Is the Dell preferred account unsecured or secured? I will list it in the C7, but if they do not discharge it, I will pay for it in time. Has anyone has any experience with Dell for matters like this??

[FreshLikeADaisy]

Lakerhigh, I too vote for full disclosure.

You may not be aware of this, but it's not just the $$$ your atty has to list on the forms, it's assets as well. In Form 7 (Stmt of Financial Affairs) there are also questions regarding any property you may be holding for others, or others for you. I say list it all. Like Rfassett said, I wouldn't want to have to explain further to the trustee in the 341, nor would I want to have Dell come after me for something my bankruptcy made it look like I had (the computer itself). I completely understand the whole can of worms thing and not wanting to open one, but this is a very small can when it comes right down to it, and if you list it properly you save yourself future problems from Dell wanting their machine back. Good luck!!!