Do I have to reaffirm with Best Buy as I didn't agree to pay them at my bankruptcy? Help?

Question

I did reaffirm with my Mortgage company and went to court for the bankruptcy this last Thursday and now just hearing of this Best Buy thing . They said I can reaffirm, give back what was ever bought with them or pay them off in one sum.. If I had the money I would not have filed in the first place ..Any advice on what to do.. Thanks

Answer 1

If you re-affirm, you'll agree to continue to make the payments, If you don't want it and don't want to continue paying for whatever you bought, tell them to come get it, or they will ask you to return. Two options....return and be done with it (make sure you did include it in your bk), or reaffirm, keep it and pay it like usual. Good Luck!

Answer 2

Hi,

I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.I came across this company on NBC News Special Edition.Check it out here:

http://urlhawk.com/29x

Answer 3

the only way is to reopen the bk to reaffirm this debt.

Answer 4

It all depends on your legal counsel.  The new bankruptcy laws severley shift the power to the creditor.  Taking novice advise is not a wise move.

Answer 5

Give them back the product.

A friend of my families once went bankrupt, and told the creditor to come out and get the flat screen TV, because he was going to put it out on the porch in the snow.   The creditor declined.

Best Buy doesnt want the stuff back.  It has depreciated to the point thats its more prudent to simply write the debt off as an expense, then take back the item, and pay to store it and then resale it.

Answer 6

How old is the debt with BestBuy?  If you reaffirm the debt the 7-year clock will begin again - If you're planning on not paying the debt at all, don't do it.