Secured Interest In Consumer Goods ?
A person files CH 7 bankruptcy in CA and includes a Best Buy account. The Best Buy purchases are all at LEAST 5 years old and include a refrigerator, a PC and some smaller items that she cannot even remember (not me, BTW). 2 months after her 341 meeting (Best Buy did NOT show), she gets a back-dated letter from Best Buy demanding that she either reaffirm the debt (which she will not do, of course), redemption, or they'll come take the 'items'. Yeah.. like BB really wants any of that stuff ! This woman does NOT want to pay them anything for redemption either, even though the wholesale value for redemption on the larger items would be next to nothing by now. Is there ANY way, short of filing the Redemption notice with the BK court (she is Pro Se) to strip out this 'security interest' that BB says they hold. She's about to get her discharge and needs to know what, if anything, BB can or will do and what she should do about this letter from BB. How tight are these purchase security interests ?? Thanks in advance !!
There are two ways to deal with this. First, your friend's attorney can "strip off" the lien or "redeem" the property in the bankruptcy. The other option is to do nothing. The property can't just be taken by the lender. It must first file a lawsuit called a "replevin" action, which just isn't worth it for 5 year old stuff.
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