Home Depot listed as "Secured?"

[ccsjoe]

Hi, not sure if this is the right forum, if not I apologize. We plan on filing CH7 as soon as practicable (hopefully end of month) and were wondering where to list one of our debts: a Home Depot CC (non-Visa or MC branded, just store card issued through Citi I think) where we still have a 1.4K balance from a 3.3K purchase of a Fridge, washer and dryer made almost 4 years ago. Should it be listed as secured non-priority or unsecured non-priority? And the follow up question is will Citi attempt to recover the property?

Thank you

[scorpion35]

Hi, not sure if this is the right forum, if not I apologize. We plan on filing CH7 as soon as practicable (hopefully end of month) and were wondering where to list one of our debts: a Home Depot CC (non-Visa or MC branded, just store card issued through Citi I think) where we still have a 1.4K balance from a 3.3K purchase of a Fridge, washer and dryer made almost 4 years ago. Should it be listed as secured non-priority or unsecured non-priority? And the follow up question is will Citi attempt to recover the property?

Thank you

i think its unsecured non-priority
Citi does not want your washer,dryer or fridge

they want cold hard cash


don't worry about it you're safe

[wnguyen]

I did have BestBuy and Sears credit cards (store cards). As of the date of filing last month, I wasn't aware that stores like BestBuy, Sears and probably Home Depot do hold security interests (called purchase money security interest or PMSI) in the stuff you buy from them. I just gave the bills to my lawyer and she took care of everything. Most of my debts were listed as unsecured, except for my auto loans. Now I'm waiting for them to respond, especially BestBuy.

As for your case when you have $1.4 K and the property is almost 4 years all, chances are, in my opinion, they probably won't because that would cost them more.

[ccsjoe]

Thanks wnguyen. The reason I asked was exactly because of PMSI.