Will Wells Fargo REALLY repo my furniture??

[fortknox]

I filed chapter 7 and had my 341 on June 1st. I have furniture that I purchased from Slumberland with a Slumberland card-financed through Wells Fargo. They have sent me paperwork through my attorney to surrender the collateral so they can sell it. Up until this point I just assumed they would let it go. Afterall, does Wells Fargo really have a storage facility for used furniture that won't even be worth the cost to repo it?
My attorney indicated that when she spoke to Wells Fargo they indicated that after my discharge, they would probably try to negotiate a settlement with me. If I did not settle, then they would repo. She said Wells Fargo is usually more aggressive in going after their collateral.
Anyone have experience with this?? Should I sign the papers? Should I negotiate with them when they contact me after discharge? Should I call their bluff and see if they actually repo it?

[GettingGoing]

I filed chapter 7 and had my 341 on June 1st. I have furniture that I purchased from Slumberland with a Slumberland card-financed through Wells Fargo. They have sent me paperwork through my attorney to surrender the collateral so they can sell it. Up until this point I just assumed they would let it go. Afterall, does Wells Fargo really have a storage facility for used furniture that won't even be worth the cost to repo it?
My attorney indicated that when she spoke to Wells Fargo they indicated that after my discharge, they would probably try to negotiate a settlement with me. If I did not settle, then they would repo. She said Wells Fargo is usually more aggressive in going after their collateral.
Anyone have experience with this?? Should I sign the papers? Should I negotiate with them when they contact me after discharge? Should I call their bluff and see if they actually repo it?

Like many have said before this is probably just a bluff and a way for Wells Fargo to to and scare you into reaffirming the debt. They dont want your old furniture. I would call their bluff and tell them to come and get their furniture. There is a high probability that you will never hear from them again. It costs them more money to hire someone to go pick up the furniture and sell the stuff than its worth. Good luck and I look forward to you posing in this thread in 6 months that you still have your furniture and did not reaffirm or settle.

[ssmdem]

No experience in the matter - but I bet it's a bluff too. I've always thought when reading about these kind of things -- sure tell them to come get it. Why would I pay to keep old furniture when I could just go out and buy something new with the same money? I guess if it's something you're emotionally attached to and scared to risk it -- but I'd just go for it. Worst case scenario, they come get it and you go buy something else with your money.

[momofthree]

Is there a Wells Fargo branch in your city? If so, there is a higher chance of them coming to get it. Often, they'll just send a couple of guys from the local office to pick it up (i.e. no costs of hiring someone to pick it up). Almost every stick of furniture in my house is repo'd furniture purchased from a local Washington Mutual Finance branch (very similar to Wells Fargo Finance).

[2muchcredit]

We are going through the same thing with Wells Fargo & Raymour & Flanigan furniture. They send reaffirmation papers for our 341 a few weeks ago. Our attorney recommended that we do not sign anything, take the fresh start. Do not get back into debt for used furniture She thinks they are bluffing. Personally, if they want the furniture, I say let them come get it (after they go through the proper procedure, of course). Except for the bed (daughters) I'm not attached, I just want to be done with credit cards.

[ssmdem]

Personally, if they want the furniture, I say let them come get it (after they go through the proper procedure, of course). Except for the bed (daughters) I'm not attached, I just want to be done with credit cards.

Tell me about it!! I WISH someone would come get some of our furniture - less for me to have to move!!

[2muchcredit]

Our lawyer said don't do that. Let them go through the proper procedure to repossess. They would have to go to court.

Like many have said before this is probably just a bluff and a way for Wells Fargo to to and scare you into reaffirming the debt. They dont want your old furniture. I would call their bluff and tell them to come and get their furniture. .

[Maquitagirl]

My mother had a chair that was a year old through slumberland. They asked her lawyer if she wanted to reaffirm the debt or at least settle. My mother told them "No, come pick it up if you want it". Slumberland never came and got the chair.

I'm going through the same thing with Nebraska Furniture Mart. My lawyer told me in the 20 years of him being a bankruptcy lawyer not once did they actually come pick up the furniture. They always play that game that this account they are really going to pick up the furniture and they never follow through. So if I were you, just ignore them!!!

[GettingGoing]

Is there a Wells Fargo branch in your city? If so, there is a higher chance of them coming to get it. Often, they'll just send a couple of guys from the local office to pick it up (i.e. no costs of hiring someone to pick it up). Almost every stick of furniture in my house is repo'd furniture purchased from a local Washington Mutual Finance branch (very similar to Wells Fargo Finance).

This really surprises me considering the liability of paying a couple of guys that sit in a desk all day to go to a debtors house and carry a bunch of heavy furniture out of the house. They risk the guys hurting themselves as well as causing damage to the debtors other property.