secured vs. unsecured

[Mom2one]

Hey everyone.

I have a question. I see alot of posts about secured vs. unsecured credit cards. We have a circuit city, best buy and ford credit cards (the ford card is only used for repairs on car). Are these paid differently in a bankruptcy ??? I am hoping this is not going to be more problems!!! UGH

Chrissy

[CindyLou]

what did you purchase on the circuit city and best buy and how long ago? Usually the reccomendation on this board is to list them as unsecured no matter what. Let them decide if they want to ask for the item back or try and say its secured. Even if they do go through the trouble, the day you say, "ok, lets set up a time for you pick up my computer (or whatever) that has a broken screen; you'll never hear from them again.

They don't want your stuff they want their money.

So I guess to answer you questions, circuit city and best buy might try to say their serured, but won't really do anything in the end. (unless maybe your purchased an 8000 dollar plasma 3 weeks ago...)

[Frogge]

So, another example, I bought furniture on my CITI mastercard in Feb. It will be 12 months after THAT before I file, could they try to claim that charge at Slumberland as secured? Would I then have that portion non-dischargable? It was about $1,200.