Hi All, I am looking for any experiences people may have had with Dell and Best Buy during chapter 7. My 341 meeting comes up next week and my lawyer has received Security Interest letters from both creditors. I'voe learned its not a good idea to sign any reaffirmation agreements with anybody (except maybe your car). From what I have learned so far is that if I do nothing the amount of the debt can be discharged, but I can be pursued after my case is closed to retain these items. On the Best Buy card for example there are tons of items nothing expensive or of any value anymore. After discharge if I do get contacted will it be for the ENTIRE DEBT I owed or just a few items they may choose. Dell is another situation with a computer that we stupidly purchased Nov 2003. The computer was about $800. Read many stories how people feel relieved after discharge, but sounds like it can drag on for a while in secured property cases. Thanks for any input. Mike
Mike - I can't speak to BB or Dell, but we had a revolving acct where we had a $1200 item and did NOT reaffirm on it. It was discharged and I asked our atty "now what" and he said, if they want it, they'll come get it. They never did and infact, ended up filing BK themselves a year later. Good luck. Shanyl
Thanks Shanyl....That does give me some hope. I have heard it is VERY expensive to file an order to come and get items, and usually way more than the item is worth. Hope life has treated you well since your BK. Mike
I happened to run across this article about a lawsuit against department stores requesting debtor to reaffirm: http://www.atg.wa.gov/releases/rel_federated_021798.html and here where Sears paid big $$ in similiar situation: http://www.atg.wa.gov/releases/rel_sears_090297.html Good luck, and just let your lawyer advise you on answers, that's what they are paid for.
there have been a lot of posts about this issue with best buy and dell on www.chat-cards.com. The common thread seems to be that they are full of hot air. It would cost them more than the value of the collateral to file a replevin, get the sheriff out there, etc. Ask your attorney but the common wisdom over there is don't reaffirm. Good luck to you Poochie
