bankruptcy and reposession

[ndnicks]

What is the name of your state? Texas

Hi there, when visiting my parents today, they told me they were filing bankruptcy. We've purchased two expensive items in their names this year, one being a mattress and bed frame for 1400 dollars, another being a brand new dell computer, 1300 dollars. We've been making steady payments on the computer since july when we bought it, at a rate of 34 dollars a month. The bed was under the agreement of twelve months no interest same as cash and we've made no payments since july when we bought it.

My mother told me because she wanted to save us money and file with both items along with the more expensive items they were filing (a van that they never paid off, several unpaid bills, many things totaling over 100,000 dollars they've said.

When we bought the bed, the salesman/manager told us that its very difficult to get a loan on a bed because they cannot be repossessed. Our application failed but using my father's name (he agreed and filled out the ap for me then we faxed it back to the store) it was approved and sent to our home. Our names are nowhere in the agreement for any of the items, except for our address in the shipping spaces.

Is it possible that they can repossess the computer? Is it possible that both can be used on their claim for bankruptcy, making it unecessary for us to finish paying for them?

[ihatearizona]

If your parents are the main cardholders on the account then they can include the debt in the BK.

Who did you buy the computer from?

[ndnicks]

we bought it from dell using their name since dell would not approve us do to our current high debt and revolving credit balances. my parents allowed us to use them for it.

[ihatearizona]

Dell will have some attorneys send reaffirmation paperwork with language stating that if you want to keep your PC that you must fill out this agreement and have the judge sign it. Ignore it.

I think the only trouble your parents might run into would be for exemptions. Also, how long ago did you purchase the bed and PC?
What state do they live in?

[ndnicks]

We all live in texas, my parents and me and my husband but we're in different houses of course. Both the bed and pc were bought the end of july this year.

Reaffirmation paperwork? Like "sign this and continue paying or we'll come take it?"