Is a product purchased on a John Deere credit card considered secured or unsecured property?

Question Details:

I bought a golf cart in 08 from a John Deere dealer. It was not a JD product, even though the dealer let me pay for it with my JD card. They shipped it to me, however,  6 mos after I bought it my income was drastically reduced. I ended up selling it. The police showed up at my house to arrest me because I had sold the cart; they were there to repossess it. I ended up writing a check for $3200 so I would not go to jail, I have no record whatsoever. JD told me that when I became delinquent on my account with them.  But they were reimbursed from the equip dealer that sold me the cart.

Asked 11/12/2009 under Business | 245 View(s) | More Legal Topics