Help! Lawsuit & Repossession Letter!

[ejny65]

Hi every one. As some of you might know, I have still not filed yet. I have seen a good attorney which I want to retain her because she is also a trustee. But I have not retained her. I still need to wait to be ready to file.

I have received a letter from a furniture store today.
It says that if they don't receive the entire balance due in 10 days from the date of the letter, they will file lawsuit. later in the letter they say that they have the right to repossess the goods upon which balance remains. and it says if suit is filed the action will not be dismissed until they receive full payment.

>>>>>> is this a summon?
>>>>>> will they really get my kids' bed and desk away?

I need answers, please help me, tell me what will happen with this?
I appreciate all your help.
EJ

[ann1073]

EJ - what is the name of the furniture store? I've got an account with one that I am behind on and the attorney said that even with chapt 7, i could be responsible for a portion of what i owe them. i didn't buy anything big other than a printer and monitor, and the rest of the balance was used for birthday and christmas gifts. i've been getting calls about being past due and have been wondering how much longer it will be before they move it up a notch.

[JRScott]

The primary question here is whether the items are worth what's owed on them. Bankruptcy can absolve the debt but you'd have to check the surrender option. They may or may not come and get the furniture. It is something that you would need to ask a lawyer.

You can generally pay most lawyers over time and retainment is considered from first payment.

[JeepMom]

Yes, your kids stuff could be taken if there is something in the contract stating so. It could also be a "scare you into paying" letter. They can take the matress but not resell it so there would be no reason for them to take it.

[ejny65]

When? and How?

Yes, your kids stuff could be taken

I can take the lawsuit and garnishment, but I can't take it if they take my kids' bed.
Will it happen? I am so worried guys.

[ssdsco]

I can take the lawsuit and garnishment, but I can't take it if they take my kids' bed.
Will it happen? I am so worried guys.

While they could take it if it's a secured debt based on what others have reported I doubt they'll spend the money to pick up used kids furniture.

Other's have had computer equipment, TV's, furniture that was on a secured debt and the finance companies never bother to pick the stuff up. I can't remember anyone saying they had to give back anything but houses, cars, RVs, the big stuff.

[lrprn]

I can take the lawsuit and garnishment, but I can't take it if they take my kids' bed.
Will it happen? I am so worried guys.

If you file and include this creditor, then even if the creditor insists the loan is secured the chances of them ever coming to repossess your children's used bed is about the same as a meteor dropping out of the sky into your home. They want your money, not your used stuff.

What's holding you back from filing now?

[ejny65]

If you file and include this creditor, then even if the creditor insists the loan is secured the chances of them ever coming to repossess your children's used bed is about the same as a meteor dropping out of the sky into your home. They want your money, not your used stuff.

What's holding you back from filing now?

Thanks, I will include this creditor for sure. My income went down radically, so I have to wait. every month I calculate to see when I can fall below median. No preferrential payments, no cash advances or anything like that, just waiting to get poorer I guess!