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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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If you have secured debt like if I bought a 3000$ tool box

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If you have secured debt like if I bought a 3000$ tool box from snap-on and you stop paying for it and file bankruptcy and sell the box and then buy another box from Mac tools can snap on come and take the Mac tool box? Or any other tools for that fact that I bought from other places?

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

cfortunato :

If the debt that is owed to Snap-on is discharged in a Bankruptcy, Snap-on cannot try to collect that debt by taking any tools that were not secured by that debt.

cfortunato :

However, in this type of situation, where collateral that is securing a debt is sold, the Bankruptcy court can determine that the debt is not dischargeable, based on the fact that te sale was fraudulent.

cfortunato :

If the debt is determined to be non-dischargeable, then Snap-on would be able to attempt to collect the debt in any manner possible, and would be able to attach the Mac tools after going to court to get a judgment.

Customer: Can they come and take any property from me cause what I want to do is trade in that box for another one from another tool company like Mac and tell them to go piss up a tree. Because they came and took my scan tool from me by saying it needed an update and then told me they took it because I owed them money! So the tool truck guy lied to me to just get my scan tool! So can they come take my tools?
cfortunato :

They do not have the right to take tools from you if those tools came from a company other than Snap-on, unless they first go to court to get a judgment.

cfortunato :

This is so, even if you trade the Snap-on tools for Mac tools.

Customer: How long do they have to do that? How long can they try to collect this tool box debt and how long can they charge interest and late payments etc.
cfortunato :

There is no time limit for how long they can add interest and late fees, but they cannot go to court to get a judgment after 6 years from the date of your last payment.

Customer: Thanks for the info!!!
You're welcome!
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