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#1
02-27-2005, 05:24 PM
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 Bankruptcy + Sears MasterCard HELP!!What is the name of your state? New York My poor mother has drowned herself in debt and is thinking about filing a Chapter 7. I heard that Sears is considered a secure debt, but she doesnt have a Sears store credit card, she has a Sears Mastercard, one that you can use anywhere. Does that count? would she not be able to file on that? Please help!!  Thanks  |
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#2
02-27-2005, 09:28 PM
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| Sears did once hold a security interest in things you bought in their stores with their cards. However, since Citibank took over the Sears credit division, they have given up the secured interest clause, so Sears no longer has any security interest in anything. I don't think the Sears MC has the same restrictions, but either way, if it did, Citibank had abolished the practice. Your mother has nothing to worry about from Sears.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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