Before I ask my questions I will provide a quick background of my situation. I have conducted several searches on this forum and others for a situation similar to what I have with no luck.
I filed chapter 7 bankruptcy in Florida and was discharged almost 2 years ago as a "no asset" case. I have some property that was secured under PMSI (Purchase Money Security Interest) which was never reclaimed by the creditors. I never reaffirmed the agreements.
I could find no filings with the UCC registry for the property and I am not sure if they should have registered it or not. Of the property that was covered under PMSI only 1 company out of 4 requested property be returned. This request was made about 1 month after the case was discharged and closed. I was advised I could ignore the request and see what they do or return the property. I ignored it and have never heard another word, which seems to be common. The property they requested be returned was for a mid-range price (~$500.00) watch and another item that I had purchased from a jewelry store.
The watch, which needs a new battery, is required to be returned to the manufacturer (not the store that sold it) for battery replacement. I am wanting to get this done but on the other hand I am hoping that i won't be surprised by the store reclaiming it. If they would even know I sent it to the manufacturer for the battery replacement, I might be a tad too paranoid.
My questions are as follows, does a company (IE rooms to go, Dell, ETC) have to perfect the PMSI by filing it with the UCC registry or is it auto perfected? I have read some conflicting information here. Second, does the company holding PMSI have limitations as to how long they have to file any action to have the property returned? I appreciate any insight. Thanks in advance!
I filed chapter 7 bankruptcy in Florida and was discharged almost 2 years ago as a "no asset" case. I have some property that was secured under PMSI (Purchase Money Security Interest) which was never reclaimed by the creditors. I never reaffirmed the agreements.
I could find no filings with the UCC registry for the property and I am not sure if they should have registered it or not. Of the property that was covered under PMSI only 1 company out of 4 requested property be returned. This request was made about 1 month after the case was discharged and closed. I was advised I could ignore the request and see what they do or return the property. I ignored it and have never heard another word, which seems to be common. The property they requested be returned was for a mid-range price (~$500.00) watch and another item that I had purchased from a jewelry store.
The watch, which needs a new battery, is required to be returned to the manufacturer (not the store that sold it) for battery replacement. I am wanting to get this done but on the other hand I am hoping that i won't be surprised by the store reclaiming it. If they would even know I sent it to the manufacturer for the battery replacement, I might be a tad too paranoid.
My questions are as follows, does a company (IE rooms to go, Dell, ETC) have to perfect the PMSI by filing it with the UCC registry or is it auto perfected? I have read some conflicting information here. Second, does the company holding PMSI have limitations as to how long they have to file any action to have the property returned? I appreciate any insight. Thanks in advance!
341 meeting: 12/09 