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chapter 7 bankruptcy comenity bank/Kay jewelers

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Anonymous
Not applicable

chapter 7 bankruptcy comenity bank/Kay jewelers

Unfortunately I have filed for chapter 7 bankruptcy. If there is an issue with comenity bank/Kay jewelers I have desired not to   reaffirm and will let them take their ring back....only one problem . I have purchased my items from Kay's over the years and have always upgraded I have traded up a ring worth 6700 which had a 2k total weight .So I had to purchase value of 6700. 2k additional . I had put in my 3k center stone in the center. 5k was mine and I added the 2 for 6700.00 . It has been a year and 1/2 and now I have no job. Can I take my 5ks out and return to them 6700.00 worth of ring. 

Message 1 of 4
3 REPLIES 3
FireMedic1
Community Leader
Mega Contributor

Re: chapter 7 bankruptcy comenity bank/Kay jewelers

Welcome to the forums. All this should have been addressed by your lawyer and they would know the outcome if Kays was IIB.. If your saying get a refund of the ring if you return it for that much money. If I'm reading this right. The trustee wouldnt go for that if they found out. And take the $ from you and pay your creditors. Kinda confusing how you explained it. Didnt want you to go without a reponce. Ask your lawyer is the best advice in this situation.


Message 2 of 4
2b2rich
Established Contributor

Re: chapter 7 bankruptcy comenity bank/Kay jewelers


@Anonymous wrote:

Unfortunately I have filed for chapter 7 bankruptcy. If there is an issue with comenity bank/Kay jewelers I have desired not to   reaffirm and will let them take their ring back....only one problem . I have purchased my items from Kay's over the years and have always upgraded I have traded up a ring worth 6700 which had a 2k total weight .So I had to purchase value of 6700. 2k additional . I had put in my 3k center stone in the center. 5k was mine and I added the 2 for 6700.00 . It has been a year and 1/2 and now I have no job. Can I take my 5ks out and return to them 6700.00 worth of ring. 


Your trustee is ok with this?

I'm not questioning it, I just don't know because I don't have any assets to sell or turn over to the trustee, but for simplicity's sake, let's say it's ok.

 

I think what FireMedic1 is trying to point out is that even if you take your stones out of the ring before you give it back to Kay's,  you still have to let your trustee know that you have them and they will decide if they will sell them to pay your other creditors or not.  

Chapter 7 Discharged & Closed Jan 2020
Message 3 of 4
Anonymous
Not applicable

Re: chapter 7 bankruptcy comenity bank/Kay jewelers

Thank you, I am trying to remove this topic for it is already taken care of

Message 4 of 4
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