Originally Posted by
livedarklions
Nebraska Furniture Mart (regional gigantic furniture warehouse outfit) is pretty notorious for being hard asses about collections and/or repo. My understanding is that it's a policy decision -- even if you don't come out ahead, financially, by paying a lawyer to go to court to enforce your rights on a $500 TV; if you do that for every single past-due account I guess they come out ahead.
But they also have their own financing agreements as opposed to boilerplate unsecured loan agreements, and the local debtors' attorneys all know that in most cases it's not worth the trouble to fight them so they'll encourage their clients to surrender the collateral.
I don't have much experience with these third-party point-of-sale financing outfits like Affirm and Synchrony. They got big after I'd stopped doing insolvency law. I'd guess they probably write most things off and sell off the bad debt. That's what Visa does.