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Levitz Card & Furniture - Repossession?

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    Levitz Card & Furniture - Repossession?

    I have a sofa which I financed through Levitz Card almost two years ago.

    I financed at 0% for $1,700+Tax and its balance is now $720.

    My attorney said that I don't have to pay the payment on this Levitz card since it's two years old so there is very few chance for the repossession. (I think it's a secured debt as like Best Buy Card).

    I am curious if it won't be repossesed by Levitz. Still there is a possibility of repossession based on the attorney's advice.

    Are there any similar cases for secured debts for furniture? I believe that Best Buy Card is also a secured debt, e.g., the financed item can be repossessed.

    Sharing any experience or advice would be highly appreciated.

    #2
    We had Best Buy (HSBC) contact our lawyer about our tv, but it was purchase this year. We made an offer to settle, but told the lawyer that if they don't take it, they can come and get the darn thing.
    I wish I had more to tell, but they haven't answered our offer yet. As far as I know they can take it back, but I'm guessing they won't take back a 2 year old sofa. They probably wouldn't take my tv either, but with it being newer, there's always a chance.
    Good luck!!!

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