|
North Central Kansas | I worked for a guy in the 80's that had a John Deere 7520 Four wheel Drive and a 7720 combine finance with JDFC. Times were tough and he tried to work a deal with them to keep the tractor but give the combine back. I worked ground that summer in his Allis 7060. And we cut wheat with his two M's. It was all or nothing. In the 80's those with equity were encouraged to quit farming. Those who were underwater they worked with. There wasn't anything to gain by selling out the ones who didn't have any equity. If they had sold out the upside down one's they would have realized the loss. Work with them and try to pull your way out. Most of them survived and paid interest for the next 20-30 years on that old debt. I'm afraid we are probably headed that direction. 2-3 years of marking time followed by the long slow climb out of the hole we are in. | |
|
Would John Deere write down a BTO's loans? Rumor has it they are
