I have a Dell laptop financed through Dell Financial Services
(dellfinancialservices.com). Thus far I have paid it, but my
circumstances have changed and I am uncertain about the future. Is
this the kind of debt that is secured and in which they could actually
repossess the computer? Thanks.

---

Clarification of Question by ebillar-ga on 18 Feb 2006 18:47 PST

Please be sure of the complete accuracy of your answer to this question. Thanks.

The computer is worth nothing to them.

They, or probably the people who are the real lenders, will set a debt
collection agency on you.

Things could get very unpleasant.

A bit more :-

<snip>
To help alleviate the financial burden of investing in technology,
Dell Inc. and Newcourt Credit Group, Inc. (acquired by CIT in November
1999) founded Dell Financial Services L.P. (DFS) in the spring of
1997.
</snip>

CIT, whoever they are, will be rather good at chasing bad debts

Read the fine print on your contract.  I expect that they can reposess
the computer.  Even if it is worthless to them, the threat of
reposession gives them leverage.   (Good time to save your files)  
They probably have experience with people who claim that they can't
meet payments when they actually could, so reposession is their
hammer.

In addition to MyOar's point

- they will pile on fees, hound you and shaft your credit rating

Lenders have to make an example of defaulters, otherwise everyone would do it.

I once knew a lass who ran into a spot of cash flow problems,
foolishly she put AMEX close to the bottom of the pile.
- their claim literally multiplied

CIT are bound to be astute, and in the personal (or corporate) lending
game that means utterly evil.