Legal Question in Credit and Debt Law in Illinois

Engagement Gone Wrong

Alright, 2 years back I decided that maybe the girl I was dating at the time was ''the one'' and had thoughts of pursuing the relationship further. I wanted to do a little shopping to see how much the rings were going for. I went to Whitehall Jewelers to take a look at their selection and I'm not sure how they did it, but they got me to buy a set. Well, the engagement fell through, I was able to recover the rings but the company won't accept them back to clear the debt. I asked other jewelers and they say the same thing. Isn't wedding rings considered an asset that can be relinquished as if it were a secured debt? It would only be logical if it were.


Asked on 12/27/05, 6:47 pm

1 Answer from Attorneys
Kevin Plachta The Law Office of Kevin F. Plachta

Re: Engagement Gone Wrong

The answer is no. That would be like buying a washing machine from Sears, then realizing you do not need it once it was in your home and then asking Sears to take it back to clear the debt.

The only way an "asset" is considered security for a debt is if there is an actual contract/document in which you pledge the asset as security. My advice to you is to sell the rings to a third party and pay off your debt.

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Answered on 12/28/05, 9:52 am


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