Question about Sears Debt

[DYLAN150]

I owe Sears quit a bit. I think around 9K. My last charge's were over two years ago and I have a lot of Sears household goods in my house, Washer, Dryer, Two Tv's, printer, power washer, lawn mower. I am not filing for bankruptcy at this time and just sent Sears (Citi) a letter requesting a reduced payment amount. If I reduced the payment to Sears, (without their permission) would Sears want their stuff back. I basically can pay them about 65% of the current payment.

[jacko]

Is Sears your sole cc creditor?

I owe Sears quit a bit. I think around 9K. My last charge's were over two years ago and I have a lot of Sears household goods in my house, Washer, Dryer, Two Tv's, printer, power washer, lawn mower. I am not filing for bankruptcy at this time and just sent Sears (Citi) a letter requesting a reduced payment amount. If I reduced the payment to Sears, (without their permission) would Sears want their stuff back. I basically can pay them about 65% of the current payment.

[DYLAN150]

Is Sears your sole cc creditor? No, I have alot of credit card creditors that I am not paying. The only reason I have been paying Sears is that I don't want them to repro my household goods.

[keepsmiling]

The chances of them working with you while you are paying them are pretty slim.
Good luck.

[MSbklawyer]

Creditors rarely want used household goods back. It costs them more money to come get the stuff and sell it than they would realize in the sale. You have no obligation to load it up and take it back to them. They will huff and they will puff and they will stomp and they will snort, but they will eventually just cut their losses. Have you ever seen a used appliance for sale at Sears? Ok, then.

I always tell the creditors that they can have the stuff back, but that my client is not going to assume the risk or expense of shipping it. If they want it, they have to set up a time to pick it up at my office. Never once has anyone come and got anything.

One notable exception to this is Nebraska Furniture Mart. They do come get it. They don't resell the stuff because it usually involves a mattress and NOBODY wants a used mattress. So they just take it to the dump or burn it so that YOU won't have it.

[GoingDown]

Creditors rarely want used household goods back. It costs them more money to come get the stuff and sell it than they would realize in the sale. You have no obligation to load it up and take it back to them. They will huff and they will puff and they will stomp and they will snort, but they will eventually just cut their losses. Have you ever seen a used appliance for sale at Sears? Ok, then.

I always tell the creditors that they can have the stuff back, but that my client is not going to assume the risk or expense of shipping it. If they want it, they have to set up a time to pick it up at my office. Never once has anyone come and got anything.

One notable exception to this is Nebraska Furniture Mart. They do come get it. They don't resell the stuff because it usually involves a mattress and NOBODY wants a used mattress. So they just take it to the dump or burn it so that YOU won't have it.

This was hilarious at times and I agree.

They will bluff about it, but it is highly unlikely that they want your used appliances, etc., back. They know the re-sale value of them is almost nothing, and the costs of coming to get them, haul them, store them, and then auction them off, would outstrip anything they would get from them.

If you make any payments to them, it may reset the SOL for that debt.

I personally had a Sear's card with a $7,600 balance, and they never came over to my home to get their stuff. One of their debt collectors talked to me on the phone about it, but they never followed through on it.

They are lying to you. They are bluffing. Don't take it seriously, and stop communicating with them.

[jacko]

Most likely, the Sears CC is a revolving card, not a secured card with your purchases used as collateral. I would ignore it. If you settle with them, you will have wasted your cash and that the activity will show up on your credit report to be seen by your other unpaid creditors.

Is Sears your sole cc creditor? No, I have alot of credit card creditors that I am not paying. The only reason I have been paying Sears is that I don't want them to repro my household goods.

[treehugger1]

MSBKattorney cracks me up! Very funny. In fact, when was the last time Citi had a used appliance or lawnmower sale?

Just a head's up. I think "Suttle and company" handle a great deal of Citi claims in both Oregon and Washington. This includes the Citibank Sears card. In the past, Citi seemed to be satisfied with simply racking up judgments through that particular attorney firm in Washington. I'm not sure what Citi is doing now.

It is also important to realize that Sears does not hold the financing responsibility for the Citi card. (At least, I don't think Sears has any further responsibility to Citi's credit to you.)

As a result, Sears probably doesn't give much a sh*t. Citi is a multi-national finance corporation, so they probably have little interest in a mere $9K worth of used consumer goods.

I had washing machines, shop tools, and all sorts of gadgets on my Sears card when I had to default. I was worried that someone would want the stuff back. The only thing that happened was that Suttle and company sued me and got a judgment. Because of my particular situation, there has been no action on the judgment. he last thing those folks need is a warehouse full of used crap.

I'm pretty sure the collection attorneys got paid by Citi and then decided future action against me was a lost cause.

Sears...? It's not their problem.

I wouldn't worry too much about this. I suppose in a worst-case scenario you might want to determine if the "goods" are within your personal exemptions in your state. But, didn't everything in Washington and Oregon completely rust away to nothing this past winter and spring?

MS noted a Nebraska furniture mart that wanted its stuff back. In the West, be careful if you ever default on a Les Schwab tire account. Those folks are also ruthless. After hearing LS horror stories, I made sure my account was settled before defaulting on other debts. I still have a line of credit with them. Goofy bastards.

[DYLAN150]

"Suttle and company" already sued me over my other Citi account. I sent them a letter saying I was collection proof (WA state form) and never heard from them again.

Now that Citi debt has been sold to someone else. Washington state exemptions for holdhold goods is $6500 for a single person so there is no problem there. Plus there is also a $3000 wildcard.

[oregonpilot]

treehugger is right on that one. There was a lady from Les Schwab at the 341's every day of the nearly week total of 341's that I watched.
The 3 different trustees that i watched all knew who she was and acknowledged her even before she said a word.

[GoingDown]

I had no idea that Les Schwab was like that. Interesting.

[oregonpilot]

When my atty was telling me about the 341 meetings he said that probably no creditors would be there except Les Schwab. he said they will ALWAYS be there .
After a debtor was finished with the trustee the Les Schwab lady would walk out into the lobby with them.
Thank Goodness I did not have a Les Schwab acct.

[Bell30656]

After my bankruptcy, I had a furniture / appliance store call me and tell me that although the debt was discharged, if I wanted to keep the furniture / appliances the debt would have to be paid for... of course, they said several times that they weren't trying to collect the discharged debt rather to recover the pledged goods of the note. I scheduled a date and time for them to pick up ... Then I "forgot" to be home when they came by... They called, huffed and puffed but I told them I was busy. They never rescheduled.