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 Posted: Thu Mar 27, 2008 1:19 pm |
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MY BK7 was discharged late last year.
Bass & Associates has sent me 3 letters since discharge asking me my intent as to surrender of collateral on a store card (BestBuy(HSBC))which was discharged by my BK, yet the lien has survived.
The total lien is less than $1500.00 on home electronics/computer that are now two years old. Some of it is non-functional.
I have never responded to Bass & Associates.
Do I have any legal obligation to contact Bass & Associates?
Can I dispose of these items if I wish?
Should I maintain the goods in case Bass & Associates does sue me and I would be ordered to surrender the junk to them?
Please advise.
Thanks in advance.
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WLR1
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Debtcc Points: 100
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| Posted: Thu Mar 27, 2008 1:32 pm |
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Did you use a lawyer for your bankruptcy? I would contact them and find out how to handle this. If this was listed in your bankruptcy and not re-affirmed, they are trying to collect illegally. However if they re-affirmed the debt, you would still be liable, I believe. Someone will be along soon, I am sure, with more advice.
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Sassnlucy
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| Posted: Thu Mar 27, 2008 7:24 pm |
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In a Chapter 7, only the debt is discharged -- any underlying security interest still remains intact. Which means even though you included them when you filed, they still have title to and rights in the goods.
They cannot come after you for any money (since the debt was discharged). But they can demand surrender of the goods. If it were a car, they could repo it; but since the items are in your house I highly doubt they will send somebody knocking on your door.
In reality, they know the goods have depreciated far below any real value. If they wanted to waste their money, they could go to court for a replevin order, whereby a judge would order return of the goods. Now what would happen if you told the judge that you threw them away ?? -- I don't know -- he might make you pay the fair-market replacement value.
I highly doubt that they will go that route. But my guess it that, as long as they don't demand money from you, it's probably legal for them to keep contacting you for the goods.
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DebtCruncher
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| Posted: Thu Mar 27, 2008 8:32 pm |
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When my dad went through BK he also had a best buy card and there was alot of stuff on it. No one ever contacted him for any of the stuff that he bought with the card (heck I am on one of them right now). You may want to check the papers you got when you got the card to see what they say about their card and BK. But I thought if you buy something with a credit card and you go through BK they cannot make you give it back, because it was kind of like a signiture loan. I may be wrong  I would contact the lawyer (if you used one) and see what they have to say about this. We all know how Bass works. Plus I thought Bass was supposed to be out of business.
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puddlejmpr
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| Posted: Thu Mar 27, 2008 9:33 pm |
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There is another collection agency that goes by the name Bass & Associates; I think they are based out of Arizona. I'm not sure if there is any affiliation, but if they're collecting accounts for a major creditor, they are probably legitimate.
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Morningstar
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| Posted: Sat Mar 29, 2008 9:19 am |
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I originally thought this was an installment contract with best buy -- ie I didn't catch that it was all charged to a store card.
Even under a retail charge agreement, if you read your member agreement or even a sales receipt, they can retain a purchase money security interest in the goods until paid.
BUT technically this is true of any credit card, not just best buy. If you go and charge a new stove on your Capital One card, theoretically Cap1 can demand a surrender of the stove. Really how many credit cards ever try to realize on the goods -- hardly any, because it's just a waste of time and effort.
So therein I have a lack of knowledge as it applies to charge agreements. I know that in a conditional sales contract (ie for a new car), if the debtor doesn't reaffirm or surrender by the time the case is discharged, then a creditor can go repossess. But I'm not sure to what extent that applies to retail charge agreements, otherwise credit cards would be demanding return of everything you ever purchased -- there has to be a line somewhere, I'm just not sure where it lies.
You maybe should call your BK atty and ask, because they just might be wrong.
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DebtCruncher
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