Josh Mcgrath Posted April 5, 2005 Report Share Posted April 5, 2005 My father filed bankruptcy and was finalized September 2004. he did use an attorney. He got a letter from Bass and Associates. Attorney at Law, from the "Surrender department" ... stating: We have been informed that your case has been discharged. please be advice that our client is secured by a purchase money security interest in consumer goods. If you intend to voluntarily surrender the collalteral, please provide the info below. (name and such) Creditor was Best Buy and the credit card was NOT secured. Did they do something illegal here? They are asking if I want to voluntarily turn over everything that was bought from Best Buy. Im sure everyone wants a Pentium 66mhz today! There is no mini-miranda or "this is an attempt to collect a debt"... if there even needs to be one? Their website also lists them as a collection attorney. Link to comment Share on other sites More sharing options...
Geekguy Posted April 5, 2005 Report Share Posted April 5, 2005 I recieved the same letters for a couple of months after discharge. I ignored them and have not heard from them now for some time. Link to comment Share on other sites More sharing options...
DocPC Posted April 5, 2005 Report Share Posted April 5, 2005 They won't do a damn thing. They are hoping you are stupid enough to bring whatever it is in to them.They need a Replevin order to take the item(s). This order costs more than the item(s) and the time it takes to retrieve.Don't fret it. Link to comment Share on other sites More sharing options...
Josh Mcgrath Posted April 5, 2005 Author Report Share Posted April 5, 2005 Cool. Thanks guys. I wasnt fretting it. Just kinda wondering if they did something illegal. Link to comment Share on other sites More sharing options...
LadynRed Posted April 5, 2005 Report Share Posted April 5, 2005 Creditor was Best Buy and the credit card was NOT securedSorry, but that's wrong. Household Bank/Best Buy DOES hold a security interest in everything you buy there. B&A are a bunch of thugs and they don't DO anything, but they will try to drive you crazy with harrassing phone calls.If this new BK bill goes thru, you will be FORCED to either pay them for their junk, or turn it over to them. Link to comment Share on other sites More sharing options...
jq26 Posted April 5, 2005 Report Share Posted April 5, 2005 So Lady, would a full cease and desist letter be enough to keep them quiet? Or do they have authority to collect the items? Just so I am clear, post BK7, the "secured items" disclosure that best buy must slip into their credit card agreement gived them the right to secure items discharged by federal court? I ask because someone close to me is in BK7 and Best Buy is a MAJOR creditor. Link to comment Share on other sites More sharing options...
LadynRed Posted April 5, 2005 Report Share Posted April 5, 2005 Bankrutpcy doesn't 'release' the purchase money security interest that BB holds, it only discharges your liaiblity for the DEBT. I'm sure BB doesn't object or show up at creditors meetings because they think they're security interest will cover them. Unless you're talking about a lot of high-dollar stuff, most of the smaller purchases, especially if you've had them awhile, can't be re-sold, they're hoping you'll redeem the stuff - ie. pay them to let you keep it. Link to comment Share on other sites More sharing options...
Josh Mcgrath Posted April 6, 2005 Author Report Share Posted April 6, 2005 thanks Lady...How crooked. Thats so shady... Link to comment Share on other sites More sharing options...
LadynRed Posted April 6, 2005 Report Share Posted April 6, 2005 Why is it crooked ?? Sears has done the security interest thing for forever - until CitiBank took over their credit division and took that language out of their agreement. Its not an unusual practice. Circuit City does it, lots of furniture stores do it. If its a 'store card' as opposed to a 'credit card', there's a good possibility that there's a security interest clause in the agreement. Its a way for them to try to recover losses. The have a legal 'lien' on the goods. You CAN attempt to strip these kinds of liens, but its usually not worth the cost unless its a big ticket item.Bass and Associates will aggravate the hell out of people saying they want the crap back when in truth what they want is the money to make them go away. If people DO give 3-4 year old computers or Cd players and such back, I'm sure the stuff finds its way to an auction or just goes into some big dumpster. They sure as hell can't sell it again retail ! Link to comment Share on other sites More sharing options...
Recommended Posts