Appliances and Sears Credit Card

[Brighterdays]

Thanks for the info, everyone.

One is a Sears store card. The other is a Mastercard. Both are backed by Citi but the Sears cards is not a Mastercard.

If we wanted to negotiate a payment, would that have needed to happen already? Is it too late for that?

wait to see if they object. Dont tip your hand until they do. Chances are they may not do anything. I doubt they have any use for 1 year old used stuff. The trustee might want the stuff, but your lawyer can help you with the values when you fill out the paperwork. Chances are nothing will come up. Best buy sends a threatening letter asking for reaffirmation or their stuff back, but that is as far as they go. They never ask for anything else.

[frustrated7]

We filed 4/1/09 and had our 341 today. None of our creditors showed up, and in the 45 minutes I watched of cases before ours, none had a single creditor show up. We had Sears, Best Buy, and Home Depot credit card debts we are discharging (as well as other cards)...not a peep from any of them. While we still wait another 60 days for discharge, our attorney said he almost never sees them try anything in this area. They don't really want your several year old stuff and around here seldom bother trying to get it back.

[inpain66]

Sear is the WORST of the creditors. They will likely come to your 341 and also hire people to call you a loser and scum outside the building.

They also call relatives and neighbors!!! they are real scumbags.

I know this cuz my parents had issues with them. They were in a debt repayment plan with all their creditors but SEARS refused to participate so my parents got sued n everything!

[Pizza]

Thanks for the info, everyone.

One is a Sears store card. The other is a Mastercard. Both are backed by Citi but the Sears cards is not a Mastercard.

If we wanted to negotiate a payment, would that have needed to happen already? Is it too late for that?

A little extra piece of info for you... I had the regular Sears Card years ago and on the back of the card it read "Sears National Bank". I'm wanting to say it was around 2002 or 2003 that it changed over to Citibank.

The reason this should make a difference is because when it was owned by Sears itself, the store had a special interest in what was being discharged. Now that it's owned by Citi, I would believe that Sears would get their money at the time of the transaction and the debt would be between you and Citi. Sears has NO reason then to care whether you pay back the bank, since you don't owe SEARS any money. CITI might care about recovering the money, but they don't want your appliances (and the debt is unsecured like any other credit card debt).

The same principle applies when you hire a plumber and pay him using your MasterCard. It's between you and the card issuer, and if you don't pay, you'll never hear from the plumber because he's already been paid. Had you gone on a payment plan with the plumber himself on the other hand, he'd be after you.

Hope that this helps.