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Time limit for creditors to claim property forfeited in bankruptcy?

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Sevristh

Junior Member
What is the name of your state? Georgia

Is there a time limit in which creditors have to reclaim the
property that was forfeited in a bankruptcy?
I filed for bankrupty shortly after the laws changed in 2005
and went to court Janurary 12th.

I chose not to reaffirm the agreements on a digital camera
as well as some jewelry. Both were secured debts.

Thanks in advance!
 


Ladynred

Senior Member
Is there a time limit in which creditors have to reclaim the
property that was forfeited in a bankruptcy?
No, there is no time limit.

Who are the 'secured' creditors for these items and how long have you had them ??
 

Sevristh

Junior Member
The creditor for the digital camera is Best Buy, and I have had it approx. 20 months.
The creditor for the jewelry (two wedding bands) is Marks & Morgan. Have had
them for approx. 16 months.
 

Ladynred

Senior Member
Don't hold your breath waiting for BestBuy to take back their so-called 'secured' items, they don't want them back. You may, at some point, get a letter from the thugs at Bass and Associates demanding the items back, and you can tell them then to come get it -- but they never will. They will bug you hoping you'll throw money at them to make them go away, that is what they're REALLY after anyway.

Don't know about Marks and Morgan, jewelry has a LEAST a 40% markup, so the rings are nowhere near worth what you paid for them.
 

Sevristh

Junior Member
Ladynred,

I received a call today from the attorney of the jewelry company and they are wanting
me to bring the rings to their store which is about an hour away. I asked if they weren't supposed to come pick them up and she said "Oh no, it doesn't work like that."

Is she merely trying to make it easy on her client or what? Am I obligated to return the rings or can I tell them to "come and get 'em" as you said about the camera in your previous reply?

If I am not obligated, could you perhaps direct me to a site that would have a copy of the law that I could quote them upon a return call? Thank you very much!

Dave
 

Ladynred

Senior Member
If they want the rings, let them come get them, why should you schlep around for them ?? You aren't obligated to be a delivery person. They want THEIR property back, so let them figure out how to get it. Unless these rings are worth a LOT of money (and they won't be re-sale value), then they might file a Replevin action against you in civil court to get them back, but all the cost of that action would be on their tab and it may not be worth it for them do it. Other than that they cannot force you to DO anything.

I don't think you need a citation from any law, if there is one, as far as I know it doesn't say anywhere that you are required to be a delivery service.. unless you just want to be a nice person :D
 

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