Best Buy-Collections

[screentest]

Has anyone actually had Bass & Associates collect or attempt to collect collateral for Best Buy? My attorneys were contacted by them today asking if we were going to reaffirm the debt to best buy. I indicated no and they said they would want the collateral back. (TV) My attorneys have challenged them to prove the merchandise was collateralized.

I told them to come get the TV after the discharge....so we shall see if they do. Anyone else dealt with this? Should we wait and see and then make them a small cash offer? We finally filed after 3 months of prep on July 8th and 341 is on August 17th.

ST

[ccsjoe]

From what I've read, the answer is no, they won't come and get it. Best Buy is notorious for attempting to force debtors into reaffirming, using the "we'll come and get it" scare line. I have yet to hear of a case where they actually did come to pick up the merchandise. I would only be wary if this is a very recent, high value purchase.

I will be in your shoes shortly as I have a fridge, washer and dryer from Home Depot with same type of situation...mine were purchased almost 4 years ago for 3.3K and tthe outstanding loan is 1.4K. They're welcome to come and get them if they want to receive the $300 they can sell them for...lol

[SMinGA]

More than likely you'll never hear from them again. But if you do, you don't have to hand it over to anyone knocking on your door. You can require that they take legal action to acquire it. I believe its called a replevin act, or something similar.

Ultimately - they want money from you, not your stuff. They are not likely to invest time & money into the legal process to get it back. Sending the letter from the CA costs nothing - the CA probably keeps 1/2 what you pay and doesn't get paid unless they collect.

[tcreegan]

Best Buy = Big Bully

From what I have been reading on the forum, Best Buy is infamous for trying a strong-arm attempt the minute they get wind of a BK. Never once have read about them actually coming to get anything.

Tom in Colo

[screentest]

Thanks for the replies.

That is the way I will play it and see if they show up at the 341 or try to collect the collateral. Their website (Bass & Associates)indicates they are "collateral recovery specialists."

We shall see how special they are when I never seem to be home.

ST

[sophia]

They won't come for it. They just like to scare poeple into reaffiming.

http://www.bkforum.com/showthread.php?t=40613

[screentest]

Hey, great post and link.

Thank You Sophia!

St