I have this same problem. All of the belt keepers are in place, and I think my problem is in the belt tension also. I did have too change this some when I replaced the brake pads, and I can't figure out how to get it right. It only happens when I use the clutch, and it always comes off of the transaxle pulley. I have tried to bend the transaxle pulley keeper, and this has not worked either. I have a new belt, but don't want to put it on until I'm realatively sure the problem is fixed. Any suggestions would be greatly appreciated.
Annoyed Craftsman owner, May 2011