The answer to this depends on who is they. Store cards like Best Buy or store financed purchases with places like Jerome's, Mor Furniture, jewelry stores differ from credit cards in that the items you purchased are collateral for the debt. It's not uncommon for Best Buy and Mor Furniture to ask for either a reaffirmation agreement though not to the full balance of what is owed but up to the amount of value in the items at zero percent interest or return of the items. If the items are no longer in your possession then you can explain that to "them". They may ask that you state this in writing. If the items are in your possession, your option is to tell them to come and get it. I've taken this route with some of my clients and the items were never picked up, although there is no guarantee that this will be your result. Depending on what it is and how much it's worth, the creditor has to decide if they are going to invest the money into paying someone to pick up used items and sell them. Jerome's and Best Buy is not in the business of selling used items, which means paying someone else to do this. I'll venture to say that 99% of the time collection of the used items is not worth the effort.
Answered on Mar 26th, 2013 at 12:11 PM