T
Taffycat
Guest
What is the name of your state? NC
Our CH7 creditor's meeting is scheduled for Aug. 12th. We are filing for personal & busines BK.
22 months ago we purchased two Dell computers and a HP plotter printer (all through Dell) and 15 months ago (7 months later) added one more computer to the list.
These were purchased on our business line of credit through Dell. My husband was / is a sole proprietor business, unincorporated, so it was purchased as John Doe, John Doe builders.
The plotter printer & one computer is strictly used for business, one for business & personal, one for strictly personal use. (Or does it even matter?)
Our balance with accumulated interest is $9,200.00
According to Dell's website, the trade up value that "THEY" are willing to pay for ALL THREE computers combined is a mere $301.00 plus WE would have to pay shipping! On the Hewlett Packard website (though we purchased through Dell), the trade in value for the plotter (which has been discontinued) is $260.00 shipping plus $1 value for a total of $261.00??
Obviously we will not re-affirm a $9,200.00 debt with Dell. It would appear to me (though I KNOW I am very biased at this point) that the true value of the equipment, yard sale or otherwise, is $302.00 from their own lips. I realize that refurbished computers would value / cost more, but Dell would have to put money into them to bring them up to a refurbished state ready for re-sale.
The big question:
WILL they allow us to redeem the computers at their own trade in price, or will they stand strong and go for all or nothing and demand the computers back?
At the very least, after having paid well for 22 months, we should be entitled (in my eyes) to at least one totally paid off computer.
I am so agonizing over this because we do need at least one computer for our business & my son really needs one for school as we are home schoolers. We absolutely have to cut back & live within our means so buying a new one (or 2) is out of the question for now. I will not repeat past mistakes.
Advice / experience PLEASE!
Do you think Dell will even show up at the creditor's meeting? If they don't, then how do we negotiate?
Thanks in advance,
Taffycat
Our CH7 creditor's meeting is scheduled for Aug. 12th. We are filing for personal & busines BK.
22 months ago we purchased two Dell computers and a HP plotter printer (all through Dell) and 15 months ago (7 months later) added one more computer to the list.
These were purchased on our business line of credit through Dell. My husband was / is a sole proprietor business, unincorporated, so it was purchased as John Doe, John Doe builders.
The plotter printer & one computer is strictly used for business, one for business & personal, one for strictly personal use. (Or does it even matter?)
Our balance with accumulated interest is $9,200.00
According to Dell's website, the trade up value that "THEY" are willing to pay for ALL THREE computers combined is a mere $301.00 plus WE would have to pay shipping! On the Hewlett Packard website (though we purchased through Dell), the trade in value for the plotter (which has been discontinued) is $260.00 shipping plus $1 value for a total of $261.00??
Obviously we will not re-affirm a $9,200.00 debt with Dell. It would appear to me (though I KNOW I am very biased at this point) that the true value of the equipment, yard sale or otherwise, is $302.00 from their own lips. I realize that refurbished computers would value / cost more, but Dell would have to put money into them to bring them up to a refurbished state ready for re-sale.
The big question:
WILL they allow us to redeem the computers at their own trade in price, or will they stand strong and go for all or nothing and demand the computers back?
At the very least, after having paid well for 22 months, we should be entitled (in my eyes) to at least one totally paid off computer.
I am so agonizing over this because we do need at least one computer for our business & my son really needs one for school as we are home schoolers. We absolutely have to cut back & live within our means so buying a new one (or 2) is out of the question for now. I will not repeat past mistakes.
Advice / experience PLEASE!
Do you think Dell will even show up at the creditor's meeting? If they don't, then how do we negotiate?
Thanks in advance,
Taffycat