Best Buy TV & DVD player: Will they want these back?

[Midiman]

Hi,

My wife and I are filing CH7 before the end of this month. Last February, we purchased a 40" LCD TV on an 18-month promotion (goodbye to those!) and have been paying the minimum up until two months ago. Yesterday our attorney asked if our balance with Best Buy was tied up exclusively with the TV. We didn't know. In researching it I found another purchase (on promotion) made in 08... a DVD player.

Since we've paid out very little to Best Buy on these items, are they likely to want them back? Honestly it would be fine. The balance is $1330.

Thanks

[keepmine]

Likely not. There is little value in used consumer electronics.
What'll likely happen is post discharge they'll sell the account to Bass and Associates and they'll try and get you to negotiate something. Just ignore them and eventually they'll bother someone else.

[Meatstick]

If they make a claim most of the time it is a bluff to see if they can get you to make a settlement offer. If they do l would just tell them they can have their junk, you'll probably never hear from them again. The costs associated with repossession just aren't worth the hassle in your case.

[CanBreathe]

That happened to us with a laptop purchased from Best Buy. Automatically Bass & Assoc will send a letter. Ignore it, this will go away. Haven't heard anything else from them and I have heard from others that they send a letter to everyone hoping someone will bite.

[optimistic1]

I never got a BASS and ASS letter, its been charged off now, if they want their stuff, they can come get it, I will let my 1 year old play with all of it first.

[rambow]

Truck title

When I file for chapter 7 against my 1st, 2nd, and credit card, can they come after my truck which is paid for ? There are two names on the title, mine and my Dads.

[ForumReader]

I never got a BASS and ASS letter, its been charged off now, if they want their stuff, they can come get it, I will let my 1 year old play with all of it first.

I needed a little laugh.

[SPalin]

I needed a little laugh.

Now you know what those "Open Box" specials are all about!

[BKDefender]

When I file for chapter 7 against my 1st, 2nd, and credit card, can they come after my truck which is paid for ? There are two names on the title, mine and my Dads.

No

If you can exempt the value of your truck in bankruptcy and you own it free and clear then other creditors cannot take it. The problem comes in when you have an expensive car that has more equity in it than you can protect. In those cases the trustee could take it, sell it, give you the exempt amount in cash, and pay your creditors the rest (or let you buy it from the trustee strangely enough.)

I have yet to have that happen though, at least not in Nevada, since we have $15k in equity per BK filer.

--William