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May I keep secured items if I continue the payments?

Posted on: 04th Dec, 2009 08:25 pm
I have two tv sets and a computer that I am paying monthly. May continue my monthly payments in order to keep these items? Chapter 7 bankrutcy.
May I keep secured items if I keep the monthly payments?
Posted on: 04th Dec, 2009 08:26 pm
Hi mayte,

Your query has been replied to in the given page:
http://www.mortgagefit.com/bankruptcy/chapter7-12.html#137634

Please take a look at it. I hope it'll help you.

Thanks
Posted on: 04th Dec, 2009 10:47 pm
You'll be able to keep all basic necessities, and a TV falls into that category, but you can't purchase them right before declaring bankruptcy - there's a time limit. Do you need your computer for work? Or do you just play games on it? Is it a basic necessity?

Unless you purchased them with a secured credit card. You'll have to give them back in that case, if they ask for them.
Posted on: 06th Dec, 2009 07:40 am
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