Hi All, Well I received the dreaded letter from my attorney saying that they received a letter from Best Buy and Dell showing proof of claim in my chapter 7 case. I have heard many people say not to reaffirm the debt. Heres my deal. Dell: 3 purchases in 11/03 and 12/03. One was a computer about $750 and a vcr/dvd player about $126. My wife is worried about the computer as we bought it for the kids, and the vcr/dvd was given as a gift. Best Buy: There are many items purchased over the time I had the card.(about 3 years)..some items as gift, some gone, some sold, ect. The highest was a video camera about 3 years ago for $400. I guess I just need to know what to do. The computer seems to be an easy target, but all the Best Buy stuff is crazy. Anybodys help or experience is greatly appreciated. Thanks...Mike
Reaffirmimg/Best Buy and Dell..HELP MikeD | 13 posts since Feb 2004 24.60.252.95 | 05.20.2004 @ 09:49 BUMP Hoping to get some input...thanks ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>]Mike's still Hoping to get some input.
Mike, I'm not sure...I would look to my attorney for all the pros and cons and then make an educated decision. Hope this works out for you!
I would recommend NOT signing a reaffirmation agreement. I was worried about this in my friend's case, but the chance that Best Buy or Dell is going to send someone over to your house to pick up the merchandise is very slim. Actually, very unlikely. If you just bought a $5000 plasma tv, sure, they will probably come get that, but for the items you have, I doubt it.
I'm back everyone. 1 yr down---2 to go. I am working in this area of law as we speak. Best Buy is known for submitting proof of claims in Chapter 13's. I would be a little worried about the computer. However, i am sure your attorney told you that the value of the computers are far less than Best Buy expects. In addition, Best Buy may argue that you purchased the items in Bad Faith, since they were within 3-6 months of the BK. However, they have the burden of proof. Moreover, the items that were given away as gifts can not be recovered. How would they recover them? You may give in and shift them from secured to unsecured, thus it depends on whether you are under a Comp plan or a Full pay plan. Good luck.........
I'm not an attorney, and everyone who has ever followed my advice is now in prison. But I think you have two options. You can do an "informal 722 redemption" where you and Dell agree on the fair market value of the computer (and the VCR if you want) and pay them cash for it. Or you can call their bluff. Just decline to sign a reaffirmation. If they call after the bk stay is lifted, tell them that when they show up at your door with a replevin, they can take the stuff. Chances are they won't go through the legal steps to get it. It looks like the charges to best buy are too old to cause any problems, unless I'm misreading.
