Filing Chapter 7 and John Deere

[Chowder]

However, many purchase money security interests are acted on. How about cars? They are generally repossessed

Some are. Some aren't. Cars, boats, anything with a title, are generally perfected liens.

Purchase money security interests, are not. And again, are rarely, acted upon.

While I'm certain the good folks over at John Deere may like to believe their products maintain a higher level of resale, and it's true brand-name sometimes does.
We are talking about a used lawn mower here.

[Never_Again]

Some are. Some aren't. Cars, boats, anything with a title, are generally perfected liens.

Purchase money security interests, are not. And again, are rarely, acted upon.

While I'm certain the good folks over at John Deere may like to believe their products maintain a higher level of resale, and it's true brand-name sometimes does.
We are talking about a used lawn mower here.

This is about as good as the advice saying the guy that he sold it to has the problem.

We are talking about a used piece of equipment. I am offering advice based on first hand dealings with the creditor. They are used to commercial financing as well. And guess what... they WILL ask for the ZT mower back. I know. When I got behind on my payments with them, they did ask. They didn't send the repo guy out, because I caught the loan up rather quickly. Usually, the repo guy is the dealer who sells it, so it is pretty easy for them to do.

Your lawyer also can not advise you to do anything illegal or fraudulent, so he will guide you in the right direction here. You probably will be paying them back. Or, you can risk charges for fraud. This could be a real problem, so seek competent advice.

[brokeasajoke]

I have a John Deere tractor that I bought through their finance arm. They are very strange birds, at least with my experience has been. First off, I paid my loan off prior to BK (about 6 months ago) so I don't have direct experience with this situation... However, about 1 year ago, they stopped reporting to the big three credit bureaus. I called them about it back in December. The fella I talked to said they essential have "stopped playing the game" with them by and large, don't report and don't use them as their "primary" risk indicator, he said it was too dicey and they depend on the checks they perform internally (whatever that means.) Anyway, ff to the past month. I still have an open 21,000 limit with them. I called them, asked if they were going to close it due to bk. They said they have no reason to, I have never defaulted or been late with them. I asked him if I went into a dealership, would they loan me the money for a new tractor? (I wouldn't do this, but I was curious...) The guy told me that if my income was still on par with what it was when I opened my credit line, sure, no problem...

The bottom line here, in my experience, Deere is their own finance arm. They are very aware of the current economic scene and are not your typical finance group. I don't know if that would be good or bad in the OP's situation but I would talk to the lawyer and talk to Deere IF the lawyer points you in that direction. I've found them to be very honest and open, never seen a bank like that before.

By the way, they also run under the name of FPC Financial if that is of any help...

[debtprison]

I have a John Deere tractor that I bought through their finance arm. They are very strange birds, at least with my experience has been. First off, I paid my loan off prior to BK (about 6 months ago) so I don't have direct experience with this situation... However, about 1 year ago, they stopped reporting to the big three credit bureaus. I called them about it back in December. The fella I talked to said they essential have "stopped playing the game" with them by and large, don't report and don't use them as their "primary" risk indicator, he said it was too dicey and they depend on the checks they perform internally (whatever that means.) Anyway, ff to the past month. I still have an open 21,000 limit with them. I called them, asked if they were going to close it due to bk. They said they have no reason to, I have never defaulted or been late with them. I asked him if I went into a dealership, would they loan me the money for a new tractor? (I wouldn't do this, but I was curious...) The guy told me that if my income was still on par with what it was when I opened my credit line, sure, no problem...

The bottom line here, in my experience, Deere is their own finance arm. They are very aware of the current economic scene and are not your typical finance group. I don't know if that would be good or bad in the OP's situation but I would talk to the lawyer and talk to Deere IF the lawyer points you in that direction. I've found them to be very honest and open, never seen a bank like that before.

By the way, they also run under the name of FPC Financial if that is of any help...

Both of my parents worked for John Deere prior to retiring. They are more ethical than many for sure and have many things in house where others outsource. It's not exactly related to the BK forum but for a long time they had their own in house health insurance program which was considered one of the best int he country long ago. Of course that went by the wayside and things are outsourced now.

[Chowder]

This is about as good as the advice saying the guy that he sold it to has the problem.

LOL!!
You can't see the purchaser might have the larger problem here?
He stands to loose the money and the mower!

His only recourse is to sue the seller, with a good possibility of having his judgment included in the sellers BK!!

To the OP.
Here's a thread with the same circumstances. The Attorney listed the assets as secured to be surrendered despite them having been sold.