Have a tv, washing machine, and a mattress from Badcock. I am filing chapter 7 and have plenty in exemptions. I am in Fl and will not have homestead. Would these items be covered under the exemption or will these have to be sold or giving back to badcocks? I am a little confused about all this. Since I have these does it make it a asset case?
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They are considered "secured" property, unless you purhased it with a Mastercard, VISA or similar credit card. Using store credit or a store credit card places a "purchase money security interest" (PMSI) on the property. This works just like a lien. Whether Badcock will actually try to recover the property is another story.
When did you purchase those items on Badcock credit? Hopefully it was years ago... meaning at least 2 years ago. That seems to make them not want the items back.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt. -
No I only had these items for about a year now.Comment
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What do they do with this stuff? I can't imagine that a year old mattress would have any value to them at all. Maybe the TV and washing machine...Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15
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Especially a mattress -- or furniture -- that has been soiled by children and pets!Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.Comment
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