secured or not

[need help]

Would anyone know if buying a computer from Dell would be considered a secured debt or unsecured debt. I cannot find this answer anywhere.
It is just listed as Preferred account.

[FilingOnMyOwn]

Unsecured. Secured loans are mostly home and auto.

[no_it_all]

Need_Help:

Hop on over to Dell's web site. Root around for a copy of the credit card agreement you signed. They should have a copy somewhere. Pull it up and using your browsers FIND function, look for the following key words:

Purchase money security agreement (or interest)

If you can find those strung together in the agreement, it is a secured debt.

[Minnymouth]

Usually Dell is a secured creditor like Sears is with lawnmowers.......
Computer would be security.....................against debt.
If its an older pc usually Dell doesn't bother and just lets it discharge....

[need help]

I got the computer in 2004.

[Minnymouth]

Depending on what you paid for the computer will determine whether Dell will pursue getting it back.....

If its a $3-4,000 system - yes they will want it back to rebuild or add too and then resell.......

Just depends on how much you owe on it, have paid on it, and what its worth right now......

[need help]

Minny,
I only paid 400.00 for computer and printer both.
If they want it back I will just go to Wal-Mart and buy one.

[Minnymouth]

I don't think you have to worry too much about them coming after it....... not worth anything to them.....

Since it is listed as a preferred account, then the computer is security on the balance of the account. But more than likely, you'll never hear anything from them..... most don't.