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    secured items?

    Does anyone know if there is a time limit the creditors have to come get any secured items you are not reaffirming? We are giving up the house so we are kind of hoping they will come get them in a timely manner since we will be moving.
    I was told by our lawyer that they often don't even bother with the type of things we have(computer from 2005, furntiture from 2005 or 2006 and a bowflex from 2006) especially since the accounts have been sold so many times.
    I would hate to have to lug this stuff around for a year waiting on them to come repo it.
    Thank you,
    Lauren

    #2
    Your lawyer is correct. What stuff you mentioned is a 99.9% that they do not want it back. Keep it, or trash it. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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      #3
      is it even possible to repo a computer?? it's got so much personal stuff on it, it's almost like taking your underwear, your DNA, your bra size...

      anyway, a computer from 2005 is worth zilch to anybody but you.
      filed ch7 May 09
      341 june 09
      discharged, closed Aug 09

      Comment


        #4
        Originally posted by music12 View Post
        is it even possible to repo a computer?? it's got so much personal stuff on it, it's almost like taking your underwear, your DNA, your bra size...

        anyway, a computer from 2005 is worth zilch to anybody but you.
        Gee, I never thought about the bra size thing. I'll ask my wife about that, but yes if they wanted that piece of junk, they could take it as secured property. They won't. 'Hub
        If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

        Comment


          #5
          Most of these "secured" transactions would never be repossessed unless the lender believed you obtained them fraudulently. None of those items could be resold for 1/2 what it would cost to repossess them.

          I haven't studied it but I suspect the secured interest in household items such as these is an accounting strategy for the lender. Either that or it's used to scare the consumer into paying out of fear they won't be able to maintain their six-pack abs if they don't pay for the bowflex.
          Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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            #6
            I know someone who bought new set of lving room furniture from Penny's about 1 1/2 before she filed and no one said boo to her about it and she still has it.

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              #7
              Thank you all. I really could care less if they come and get it, it is all just going to remind me of how badly we messed up. We have a livingroom set, a bed(which according to our lawyer they can't take because of health dept rules), a range, a computer that doesn't work, and a bowflex.

              Does anyone know technically how long they have to come get it in case they would? We really do not want to move some of this stuff with us but we also do not want to be in contempt for getting rid of it, kwim?
              Thank you,
              Lauren

              Comment


                #8
                Originally posted by stressedNC View Post
                Thank you all. I really could care less if they come and get it, it is all just going to remind me of how badly we messed up. We have a livingroom set, a bed(which according to our lawyer they can't take because of health dept rules), a range, a computer that doesn't work, and a bowflex.

                Does anyone know technically how long they have to come get it in case they would? We really do not want to move some of this stuff with us but we also do not want to be in contempt for getting rid of it, kwim?
                Thank you,
                Lauren
                They won't come and get the stuff. Why do you want to know how long they have technically? Get rid of it.
                Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

                Comment


                  #9
                  OhioFiler, the OP wants to know how long they have technically because he wants to wait out the time, and if the time has passed and they didn't take it, he can be free to do whatever he wants. he doesn't want to be surprised in 10 years when somebody suddenly says hey, where is your bowflex?
                  filed ch7 May 09
                  341 june 09
                  discharged, closed Aug 09

                  Comment


                    #10
                    Originally posted by music12 View Post
                    OhioFiler, the OP wants to know how long they have technically because he wants to wait out the time, and if the time has passed and they didn't take it, he can be free to do whatever he wants. he doesn't want to be surprised in 10 years when somebody suddenly says hey, where is your bowflex?

                    The OP is free to do whatever he wants with the Bowflex now without having to worry about the lender repossessing it.
                    Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

                    Comment


                      #11
                      Originally posted by OhioFiler View Post
                      The OP is free to do whatever he wants with the Bowflex now without having to worry about the lender repossessing it.
                      i agree completely, but i think the OP wants to be 100% sure.
                      filed ch7 May 09
                      341 june 09
                      discharged, closed Aug 09

                      Comment


                        #12
                        Originally posted by music12 View Post
                        i agree completely, but i think the OP wants to be 100% sure.
                        Fine...I say with 100% certainty the OP is free to do whatever he/she wants with the Bowflex!
                        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

                        Comment


                          #13
                          Originally posted by OhioFiler View Post
                          Fine...I say with 100% certainty the OP is free to do whatever he/she wants with the Bowflex!
                          you are 100% right
                          filed ch7 May 09
                          341 june 09
                          discharged, closed Aug 09

                          Comment


                            #14
                            Originally posted by OhioFiler View Post
                            They won't come and get the stuff. Why do you want to know how long they have technically? Get rid of it.
                            In one of the 5000 forms from the lawyer I remember reading that it is against the law to sell, donate, or dispose of any secured item.

                            So I guess I am just a little concerned about that. Also I don't want to have everything said and done and think the stress is finally gone and then have them start calling.
                            Thanks again everyone,
                            Lauren

                            Comment


                              #15
                              Originally posted by stressedNC View Post
                              In one of the 5000 forms from the lawyer I remember reading that it is against the law to sell, donate, or dispose of any secured item.

                              Lauren
                              that's why AngelinaCatHub said only 99.9% of the time.

                              seriously, don't worry about it.
                              filed ch7 May 09
                              341 june 09
                              discharged, closed Aug 09

                              Comment

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