Does anyone know about Sears?

[DYLAN150]

Does Sears retain a security interest in any thing you purchase from them? I tried calling but got someone who couldn't speak English very well. I thought I read somewhere that they retain a security interest until the item is paid off.

[despritfreya]

Yes, Sears retains a security interest in the larger items purchased, however, in the cases I have handled Sears has not been a player in several years. Sears use to be very active, but not any more. Treat Sears as unsecured and see what happens - probably nothing unless you are dealing with a very large and recent purchase.

Des.

[Charlie777]

Sears had a reputation for being very tough about the security interest in everything purchased on their card - but that was when they ran their own credit operation. I don't know about the practices now that they have outsourced credit (was CitiBank when I had a card), except to say that I discharged debt to sears in 11/2009 and didn't hear anything.

[frogger]

Probably will not be a problem. No one really wants your used stuff back again.

[jsofaz]

My attorney told me to list Sears as unsecured. We did. A stove (recent purchase, only a few payments made) and a washer and dryer (older purchase, close to being paid off). We heard nothing from Sears. Still have the appliances. We were discharged July 2010.