Secured Claims?
On our petition, we listed all of our creditors such as Sears as unsecured creditors. Sears has since sent us a letter saying they are a secured creditor. We have not met with the trustee yet...should we amend our schedules to place Sears on the Secured creditor schedule? Should we file a "statement of intention" regarding Sears? Does anyone know?
Answer:
Don't change a damned thing. We didn't, and Sears didn't press the issue. Don't play into their hands. After all, how much security interest do you think is REALLY remaining in the items you purchased from Sears? Durable or not, I'm sure they've depreciated far beneath the amount you owe them. If Sears *really* wants their "security interest" in the goods you purchased on their card, let them have their goods back. They deserve them.
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