Question about reposession

[jwsmartin]

We have a hot tub that we haven't made any payments on since July 07. The finance company has sent the debt to a lawyer (probably a collection agency). We got our first letter from them this month.

We have moved from the home where the hot tub is, and are including the home in our bk. We have not filed yet.

Will they come after the hot tub? We need to know if we can sell it. We need to get it out of the home by the forclosure date. I am assuming they won't come after it since the original debtor sold the debt.

Any help would be appreciated! Thanks!

[dp1969]

Take it with you. I'm taking my pellet stove (paid $5k for it on CC) and not looking back!

[lrprn]

Ask your lawyer if you can list the hot tub as a secured debt when you file Ch 7, then surrender it before your case is discharged. That way you wipe out the debt, although you may have to go back to court after your case is discharged and closed to wipe out a lien if you had one on the hot tub loan.

Not sure about your intent from what you posted, but if you sell the hot tub within six months before you file, that income has to be added into your Means Test income figures unless you use all of the sale money to pay off the hot tub loan.