This is your misunderstanding. You FINANCED the purchase of the "watercraft" on a "credit card" that you can only use at certain stores. You did not put its purchase price on a typical VISA or MASTERCHARGE card. Pull your financing documents and/or cardholder agreement. You will see that you gave the finance company, GEMB, a security interest and such is evidenced by the fact that there is a lien on the title to the "watercraft". With the exception of there actually being a title to the "watercraft", this is no different from purchasing a lawn mower at Home Depot using Home Depot's credit card which is really Citibank. Home Depot (Citibank) is secured by the lawn mower. As it relates to the repairs, since such is not a "material purchase" there is nothing to be "secured". This is no different from purchasing paint at Home Depot, again, using its credit card.
Then it should have been on the Statement of Intentions as a surrender - option #1 from my first post.
The creditor did not have to "show up in the bankruptcy court to claim" its collateral. The fact that nothing has happened since you filed is not relevant. Since you were unable to turnover the item before you filed, you should contact GEMB directly to see what it wants to do. It may simply want a few bucks for the release of the lien and you can negotiate something all will be happy with, or, you simply arrange for the lender to take back its property and be done with it.
Des.

