CitiFinancial & Secured Loans

[wolfkingen]

Hello,

I'm planning on filing Chapter 13, and was looking over some old paperwork. I have a CitiFinancial loan from 2004 that is secured with a TV and computer. Will CitiFinancial actually want that stuff? They're over 5 years old.

[lindsay2181]

I have a Citifinancial loan from 2005, secured with a 99 chevy cavalier....I am not behind on my payments to them but they are aware I'm falling behind on other things and the manager there said they honestly did not want my car and it would really do them no good to take it. I mean, those are just words, you never know WHAT a creditor will do but a tv and computer won't put a dent in what you owe them, so...seems pointless for them to go to the trouble.

[Hillbilly]

Stuff like that would cost them more to hire someone to retrieve it, to store it, and to sell it, than they could ever possibly recover on a used item.
They don't want your used stuff, they want you to pay up.

[BigJohn]

Hello,

I'm planning on filing Chapter 13, and was looking over some old paperwork. I have a CitiFinancial loan from 2004 that is secured with a TV and computer. Will CitiFinancial actually want that stuff? They're over 5 years old.

You could alway surrender them..... that is with a FREE TV an computer found on Cragslist.

[Snickers]

I was thinking the same thing. When they call, just tell them you can't pay and ask them when they want to come pick up their collateral. Be nice and tell them you will leave the stuff on the porch.