Legal Question in Credit and Debt Law in Indiana

equity in a farm tractor

Rather than a tractor being repossed, the tractor dealer paid off the note and told me he would sell the tractor and get me back some equity I had in the tractor. Had it been repossed by John Deere, that is their offer to sell it and send me back equity. The dealer offered to do that to keep the ''repossession'' off of my record. He has never given me anything, and not responded to a letter to him months ago. This tractor was appraised in May 2003 for $79,000 and was returned to the dealer in July 2003. The balance due to John Deere Credit - originally was $55,000, leaving equity around $20,000+. Is it too late to sue for this amount?


Asked on 4/11/07, 3:26 pm

1 Answer from Attorneys
Samuel Hasler Samuel Hasler

Re: equity in a farm tractor

You have time but you do need to to an attorney as this will certainly not be a small claims case.

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Answered on 4/11/07, 6:16 pm


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