ring as purchase money security interest
Posted: Mon Feb 22, 2010 12:11 pm
Beg, redeem, or convert to 13.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Feb 22, 2010, at 11:12 AM, "lindseybgreen" wrote:
Facts: Debtor files a Ch. 7 bankruptcy with one of the creditors being a secured creditor, a well known ring retailer in many malls in Southern California. Secured creditor given notice of bankruptcy filing. Debtor fails to keep making payments on ring to secured creditor post petition. Ring makes it back to jewelry store for cleaning. Ring retailer then confiscates ring. Discharge not yet entered. Can debtor seek now to request re-affirmation agreement or is ring gone by virtue of debtor not making payments post petition and creditor has purchase money security interest? What other options does debtor have?
Thanx,
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
Beg, redeem, or convert to 13.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Feb 22, 2010, at 11:12 AM, "lindseybgreen" <lindsey@gummandgreen.com> wrote:
Facts: Debtor files a Ch. 7 bankruptcy with one of the creditors being a secured creditor, a well known ring retailer in many malls in Southern California. Secured creditor given notice of bankruptcy filing. Debtor fails to keep making payments on ring to secured creditor post petition. Ring makes it back to jewelry store for cleaning. Ring retailer then confiscates ring. Discharge not yet entered. Can debtor seek now to request re-affirmation agreement or is ring gone by virtue of debtor not making payments post petition and creditor has purchase money security interest? What other options does debtor have?
Thanx,
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
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