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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17080
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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my husband has filed chapter 7 of bankruptcy. We are married

Resolved Question:

my husband has filed chapter 7 of bankruptcy. We are married but have separate finances. We have no joint accounts, nothing joint, we don't own a house. The wedding ring he bought for me was very expensive and he has not finished to pay it. He has added the ring to the bunkruptcy as unsecure debt like the credit card debt/ the lawyer suggested to do so. the lawyer suggested to then do a riaffirmation agreement with the jewlerer so that my husband could finish to pay the ring (as my husband already had decided). too bad the jewlerer said that they don't do riaffirmation agreement. we have a life time warranty on the ring. are we losing the life time warranty? does that mean that when my ring brakes they will not service it anymore and they can keep the ring because it has not been paid in full by my husband?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 6 years ago.
if they do not get full payment they could take the ring back or by or by not accepting the reaffirmation agreement, you would have to return the ring to them and their will be no balance. The warranty is not an issue, if they allow you to continue to pay for it, then the warranty still exists.
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