Hi... I'm new here and have a few questions. We have a tricky situation. We are filing c 7 and one of our debtors is Friedman's Jewelers who is filing bankruptcy also. Their collection agent called me just after my meeting with the bk attorney and want to know how I am gonna pay my 3500 loan. The loan is for our rings plus 2 other rings a bracelet, necklace and earrings. Most of the loan is interest. So I told them I don't want to lose the jewelry and am filing c 7. She said well either you are filing on us and we don't need to talk or you are going to work out a settlement with us and agree to it and we can talk. She wanted to offer like 1800.00 but I told her I don't have that kind of money and don't expect anything but a tax refund that is maybe 600.00 if that. She was willing to take a 600 payment and then payments after in an amount we could agree on totaling 1500 in all. But she said she couldn't even talk to me about it for sure until I had the 600.00.
So I am wondering... is it even legal to work out a settlement with her and be able to keep my jewelry? Also, I couldn't care less if we lose everything but our 3 wedding set rings. Is it stupid to pay her anything? Could the trustee take my jewelry even if I agree to pay her since it's an asset?
I am feeling like I need to ignore this woman and take my chances in the court. But I am going to really hate it if they take my and dh's rings. Do they take the bands or just the engagement ring? Mine really probably isn't worth a grand new. I need to get them appraised but do I appraise the bands or just the engagement ring? I'm in Indiana. Anyone know the jewelry limit?
My attorney was noticing my ring and thought since gold and diamonds are up in value it may be worth more than we paid. It better not be! I don't get the feeling she will help us much... her and I didn't hit it off but she is cheapest in town.
So I am wondering... is it even legal to work out a settlement with her and be able to keep my jewelry? Also, I couldn't care less if we lose everything but our 3 wedding set rings. Is it stupid to pay her anything? Could the trustee take my jewelry even if I agree to pay her since it's an asset?
I am feeling like I need to ignore this woman and take my chances in the court. But I am going to really hate it if they take my and dh's rings. Do they take the bands or just the engagement ring? Mine really probably isn't worth a grand new. I need to get them appraised but do I appraise the bands or just the engagement ring? I'm in Indiana. Anyone know the jewelry limit?
My attorney was noticing my ring and thought since gold and diamonds are up in value it may be worth more than we paid. It better not be! I don't get the feeling she will help us much... her and I didn't hit it off but she is cheapest in town.
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