Toro Credit Card

[sap720]

Hi all,

Me and my wife plan to file chapter 7 very soon and was wondering about a toro credit card that was issued by ge money bank. Could they repo the power
equipment lawn mower, trimmer etc. that was purchased with the card?


Thanks Steve

[scorpion35]

Hi all,

Me and my wife plan to file chapter 7 very soon and was wondering about a toro credit card that was issued by ge money bank. Could they repo the power
equipment lawn mower, trimmer etc. that was purchased with the card?


Thanks Steve

i highly doubt it
i wouldn't sweat it

[sap720]

Toro Credit Card

Ok,

Here's the deal the card is issued by GE Money Bank, the card was issued for the purchase of a Toro Z Mower for about $6,000 the card credit limit is $8,800. I also purchased two weed eaters and a hedge trimmer. My question is, if I include this account for discharge will GE Money Bank repo or want the items back?

[GettingGoing]

Ok,

Here's the deal the card is issued by GE Money Bank, the card was issued for the purchase of a Toro Z Mower for about $6,000 the card credit limit is $8,800. I also purchased two weed eaters and a hedge trimmer. My question is, if I include this account for discharge will GE Money Bank repo or want the items back?

Isn't this the same question asked in the first post?

[keepmine]

None of us can speak for your creditor.
They maintain a security interest in the items and could repo them if they want too. Nobody can tell you if they will or not.
I'd tend to doubt they'd want used lawn equipment back unless, the $6K purchase was recent.

BTW, you are required to list all of your creditors. You can't leave them off the petition just because you think they want there stuff back.

[scorpion35]

Ok,

Here's the deal the card is issued by GE Money Bank, the card was issued for the purchase of a Toro Z Mower for about $6,000 the card credit limit is $8,800. I also purchased two weed eaters and a hedge trimmer. My question is, if I include this account for discharge will GE Money Bank repo or want the items back?

theres no IF's .u must include every creditor in your petition
how long ago did u buy the equipment?

[sap720]

Toro

3years ago, What if I do want to keep some things like this account and some others.

[scorpion35]

3years ago, What if I do want to keep some things like this account and some others.

what do u mean?
u must include every account in your bk petition
and they will be closed by the creditor
but even if u managed to leave that account out of your bk petition it will most likely be closed by the creditor anyway

[sap720]

reaffirm how does that work

[helpmeout]

3years ago, What if I do want to keep some things like this account and some others.

Why would you want to do that? They are going to close the account and not allow you to charge on the cards anymore.

[helpmeout]

reaffirm how does that work

Why would you want to do that? To keep some material possesions that you can save and pay cash for to replace?

[sap720]

Its $6,000 lawn mower and worth $3,000 used and with the size of my yard 12 acres I need it or my landlord will tell to hit the road.



I also will not have the money to buy the things I would need to replace. Like a car for work or home garden equipment to keep the lanlord happy.

[lrprn]

Sap, don't count on any credit card surviving filing Ch 7. The cc companies all share information with each other. Even if your cc was at zero owed so you wouldn't have to include it in your filing, as already said, the cc company is 98% likely to close it anyway.

Apologies in advance for being so blunt....you need to find a way to live within what you make after your Ch 7 is over. If you can't live within what you make even after your case is discharged, then you need to be planning ahead to do one of three things - (1) bring in more income, (2) reduce expenses more, or (3) surrender an asset to reduce your debt load. There really are no other options.

Continuing to use credit to make ends meet after filing could be the first step to possibly bring you back full circle to bankruptcy again. It's very hard to make changes in how we think about money and needing credit, but it's an important part of learning from our bankruptcies to prevent future financial troubles.

[sap720]

Thanks for the reply, As question asked above would they want my lawn equipment back.
I really can't afford to lose it, as I use it for my home as will as od jobs.

[helpmeout]

Its $6,000 lawn mower and worth $3,000 used and with the size of my yard 12 acres I need it or my landlord will tell to hit the road.



I also will not have the money to buy the things I would need to replace. Like a car for work or home garden equipment to keep the lanlord happy.

Perhaps it's time to think about living some place cheaper? Chapter 7 is only going to make your debt go away. It isn't going to resolve issues with budgeting.