selling assets, for home furnishings

[keepswimming]

[SIZE="9"]We have sold a great deal of our things this past year, mostly because we needed the money and because we were moving this summer and could not take everything with us, obviously. Especially when most of it was secondhand, etc. We have not been paying on or using cc for about 18 months. 90% of the debt we incurred was for business. We filed for BK ch 7 FINALLY last week.<p>
My question now is about this table set: One of our loans included in the bk was for some furniture. This was not for our business, but for our family. Nothing fancy and it was scratch and dent/outlet quality to begin with, but we paid on it for two of the three years signed for on the 0% deal. I had the table and four chairs listed on Craigslist for the past two months, have had a few people promise to come by and buy it, and they have not showed. Their offers ranged from 150 to 350 for the set. I had put on our bk paperwork that we no longer have the table and chairs, because i thought sure it was sold. We just needed the money to pay bills. <p> Now, we have filed, and still have the table and chairs. Citifinancial, the company who we financed this furniture through, is listed as one of the creditors in the bk. Will they want to come get this table? Am I allowed to sell it? I have emailed our attorney twice and still have no answer. [/FONT] Thanks in advance. Everyone on here is so helpful!

[biotechsolution]

Be sure to check your state rules for depositing into an IRA before filing, sometimes you have to had made the deposit well before you file your BK.

[tcreegan]

Hi keepswimming,

If the previous posters don't reply, don't take it personally...those posts were from April...

Neither the trustee nor Citifinancial care about your table and chairs. Citifinancial, does however, care about some fast cash.

Standard operating procedure is to send threatening letters trying to get some cash out of you. Then try to push a reaffirmation on you or through your lawyer. Maybe they put the squeeze on you one more time for good measure.

Don't pay them a single dime.
If your lawyer says you have to settle or reaffirm, tell them politely "No, if they want the furniture, they can come get it."
They will not come get the furniture. End of story.

Think about it, does Citifinancial run a thrift shop or used furniture store?
The cost of collecting the furniture and selling it is about 100X what it is worth.

However, the cost of several threatening letters....if they get 1 person in a hundred to cough up some cash, very profitable.

Tom in Colo