Legal Question in Bankruptcy in California
I am filing chapter 7 bankruptcy, what happens to the items I purchased with a credit card? Do they come and take those items away? This is unsecured, I am concerned about this.
Asked on 8/28/09, 12:38 pm
1 Answer from Attorneys
Chris Johnson
Christopher B. Johnson, Attorney at Law
Most credit card agreements don't take a security interest in the items purchased, unless it's a store-issued card, like from Best Buy or Sears--in that case, they'll likely ask for the stuff back or agree to continue paying for it if you'd like to keep it.
Answered on 8/28/09, 7:05 pm
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