Automobile Repossession * Auto Repo * Notice of Recovery and Cure * State Laws

State

Collateral Recovery Upon Default

Redemption of Collateral

Deficiency Requirements

State UCC Code

AL

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral through providing full payment of the monies owed and all reasonable expenses incurred by the creditor. The disposition of the collateral may be conducted by public/private sale.

Collectible after public/private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency

§7-9A-609-617

AR

Peaceful repossession allowable

Debtor can redeem ten days after retaking or after judgment in replevin. The debtor has a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor

The disposition of the collateral may be conducted by public/private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency

AK

Peaceful repossession allowable

Within 10 days after retaking. If customer had paid 50% of purchase price or $500.00, a public sale is required. If less than 50% or $500.00, private sale is permitted

The disposition of the collateral may be conducted by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 49.9.504(c).) A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency

Title 49, Chapter 9

AZ

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Unless the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, reasonable notification of the time and place of any public sale or reasonable notification of the time after which any private sale or other intended disposition is to be made shall be sent by the secured party to the debtor, if he has not signed after default a statement renouncing or modifying his right to notification of sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency

ARS Title 47

CA

Peaceful repossession allowable

California's Unruh Act regulates the format and content of "retail installment contracts" and "retail installment accounts". In the event of a default by buyer, the seller (or assignee) may file suit for the amount owed, or repossess the collateral. If the collateral is repossessed, notices are required under California Civil Code Section 1812.2, and the buyer has a 10 day redemption period.

If election is made to repossess, no deficiency is permitted

CA Civil Code

CO

Peaceful repossession allowable; However, a secured party or such party's assignee who wishes to recover or take possession of collateral upon default, including a motor vehicle repossessed pursuant to section 42-6-146, C.R.S., must contract to recover or take possession of collateral only with a person who is bonded for property damage to or conversion of such collateral in the amount of $25,000.00. Failure to comply with this requirement may render the secured party liable for damages, as a principal, even if the relationship between the secured party and the repossessor is that of an independent contractor. (C.R.S. 4-9-503(2), (3).)

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner. (C.R.S. 4-9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (C.R.S. 4-9-506.)The disposition of the collateral may be conducted by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (C.R.S. 4-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (C.R.S. 4-9-502(2).) However, in a consumer credit sale of goods or services transaction, the debtor may not be responsible for any deficiency amount if the creditor repossess the collateral or voluntarily accepts surrender of goods which were the subject of the sale and in which he has a secured interest, and the cash sale price of the goods is $2,100.00 or less. (C.R.S. 5-5-103.)

C.R.S. 4-9-101, et seq.

CT

Peaceful repossession allowable; Police notification required immediately after repossession

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. (Section 42a-9-504.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Section 42a-9-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Section 42a-9-502(2)

§42a-9-501, et seq.

DE

Peaceful repossession allowable

After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. Debtor can redeem within 15 days after taking by payment of total balance due plus repossession fees.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency.

DE Code Title 6

DC

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. (D.C. 28:9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (D.C. 28:9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (D.C. 28:9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (D.C. 28:9-502(2).)

FL

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, public or private sale. (Section 679-504.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 679-504(3). Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Section 679-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Section 679-502(2).

Section 679.501, et seq.

GA

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, public or private sale, with reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 11-9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Section 11-9-506.)Under Rule 120-1-14-18 of the Administrative Rules and Regulations of the State of Georgia, in a consumer transaction involving an amount of $3,000.00 or less, a creditor may not be permitted to take possession of collateral without judicial process unless such authorization is clearly, prominently, and conspicuously disclosed to the consumer immediately above the place for his signature on the loan document or as an addition to the "NOTICE TO CONSUMER" as defined in Rule 120-1-14-.08(3) of the Regulations.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Section 11-9-502(2).)

Section 11-9-101 et seq.

HI

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, public or private sale. (HRS 49:9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (HRS 49:9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (HRS 49:9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (HRS 49:9-502(2).)

HRS 49:9-101 et seq.

IA

Peaceful repossession permitted however, in a consumer credit transaction, the Iowa Consumer Credit Code Section 537.5110 requires that no attempt to enforce the obligation may be made until twenty (20) days after a written notice of right to cure default is given to the consumer debtor. The notice of right to cure default must be in writing, and must contain specific information as prescribed under Iowa Code Section 537.5111. A notice in substantially the form set forth in this code section will comply with this notice requirement. If a creditor fails to give this notice prior to filing an action for money judgment, its action will be dismissed without prejudice.

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, in a public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. A consumer generally may not be liable for a deficiency if the secured creditor fails to dispose of the repossessed collateral in a commercially reasonable manner. (Iowa Code Section 537.5103.)

Iowa UCC Code

ID

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale (Section 28-9-504.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Section 28-9-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Section 28-9-502(2).

Section 28-9-501, et seq.

IL

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (810 ILCS 5/9-504(3).) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (810 ILCS 5/9-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (810 ILCS 5/9-502(2).)

810 ILCS 5/1-101, et seq.

IN

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Indiana Code 26-1-9.1-504(3).) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Indiana Code 26-1-9.1.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Indiana Code 26-1-9.1-502(2).)

Indiana Code 26-1-9.1 et. seq.

KS

A creditor generally has a right to possession of its collateral upon the default of payment by a consumer on a credit transaction involving a consumer loan or sale of goods or services. The collateral may be taken either voluntarily, or involuntarily without judicial process only if possession can be taken without entry into a dwelling and without the use of force or other breach of the peace. (K.S.A. 16a-5-112).

In a credit transaction payable in installments, the creditor must give a written Notice of Consumer's Right to Cure. The Notice must contain specific information such as the name address, and telephone number of the creditor, a brief description of the credit transaction, the consumer's right to cure the default, the amount of payment and date by which payment must be made to cure the default, and the consumer's possible liability for reasonable costs of collection, including, but not limited to court costs, attorney fees, and collection agency fee. A sample form of this Notice is prescribed in K.S.A. 16a-5-110(2). If the consumer fails to cure the default within twenty (20) after the Notice is given, the creditor may then take appropriate action to recover the collateral or damages. (K.S.A. 16a-5-111.)

If the cash value of the collateral repossessed is less than $1,000, a consumer generally is not personally liable for any deficiency unless the consumer has wrongfully damaged the collateral, or the consumer has wrongfully failed to make the collateral available. (K.S.A. 16a-5-103.) If, however, the creditor elects to bring an action against the consumer, the creditor generally would not be entitled to a deficiency judgment or to levy upon or take possession of the collateral. (K.S.A. 16a-5-103(7).)

K.S.A. 16a

KY

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. (KRS 355.9-504.). Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (KRS 355.9-504(3).) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (KRS 355.9-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (KRS 355.9-502(2).

K.R.S., Chapter 355

LA

The State of Louisiana has enacted its own Commercial Laws and incorporated, with modifications, Articles 1, 3, 4, 5, 7, 8 and 9, of the Uniform Commercial Code. In case of default in a secured transaction, Louisiana generally DOES NOT permit creditors to recover collateral through "self-help" repossession.

Not permitted after sale of collateral.

Not permitted unless seized through the court pursuant to a chattel mortgage foreclosure and sale. Confession notes are invalid.

R.S. 10:9-501 et. seq.

ME

In a secured consumer credit transaction, a creditor generally may not accelerate maturity of the unpaid balance of the obligation or take possession of collateral after a default until fourteen (14) days after a written notice of the consumer's right to cure is given. (9A M.R.S.A. 5-111.) If the consumer cured the default by tendering the amount of all unpaid sums due at the time of tender, without acceleration, plus any delinquency or deferral charges, the consumer's right under the agreement is restored. (Section 45-107.)Subject to the notice requirement in a consumer credit transaction, a creditor generally is entitled to recover possession of collateral upon the default of a debtor on a secured transaction. In obtaining possession of collateral, a creditor may do so without judicial process only if possession can be taken without entry into a dwelling, unless such entry has been authorized after default, and without the use of force or other breach of peace.

Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (11 M.R.S.A. 9-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor is generally liable for any deficiency. (11 M.R.S.A. 9-502(2).) However, in a consumer credit transaction, if the original amount financed is $2,000.00 or less, the creditor may not recover a deficiency.

Maine UCC Code

MD

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Comm. L. 9-506.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Comm. L. 9-502(2).)

Comm. L. 9-101, et seq.

MA

Right to cure law is in effect for all MA contracts. Vehicles cannot be repossessed from property owned or rented by the debtor

After the repossession of a vehicle the debtor must be sent a notice by certified mail, return receipt requested, outlining the lienholder's redemption requirements; including the lienholder's intent to sell collateral either at public auction or by private sale, if the requirements are not fulfilled within twenty working days.

If less than two thousand dollars, none. At time of default, if more than two thousand dollars, deficiency allowable.

Chapt 106, s. 9-101 et seq

MI

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (MSA 19.9506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (MSA 19.9502(2).)

MSA 19.9101, et seq.

MN

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Sec. 336.9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Sec. 336.9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Sec. 336.9-502(2).)

MN Code Sec. 336.9

MS

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Section 75-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 75-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency. (Section 75-9-502(2).)

MS Code Sec. 75-9

MO

One time cure law in effect in MO; all others per contractual agreement

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.(Section 400.9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 400.9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Section 400.9-502(2).)

Section 400.9-101, et al

MT

Peaceful repossession allowable; but retaking bars suit for price and vice-versa. Trip permits required on units leaving the county where repossession takes place.

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency.

MCA 30-9A

NC

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (25-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (25-9-504(2).) Any surplus must be paid to the person to whom he is entitled if such person is know. If not, the surplus shall be paid to the clerk of the superior court of the county where the sale or other disposition was held. (� 25-9-504.1.)

25-9-101, et seq.

ND

Peaceful repossession allowable

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (41-09-52.)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (41-09-50(2).)

41-09-47, et seq.

NE

Peaceful repossession allowable; in a consumer credit transaction, a creditor generally may not accelerate maturity of the unpaid balance of the obligation or take possession of collateral after a default until twenty (20) days after a written notice of the consumer's right to cure is given. If the consumer cured the default by tendering the amount of all unpaid sums due at the time of tender, without acceleration, plus any unpaid charges, the consumer's right under the agreement is restored. Subject to the notice requirement in a consumer credit transaction, a creditor generally is entitled to recover possession of collateral upon the default of a debtor on a secured transaction.

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency.

NE UCC Code

NH

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale.(382-A:9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (382-A:9-506.)Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency.

382-A:9-101, et seq

NJ

Peaceful repossession allowable; Suit for purchase price prohibits recovery and vice-versa

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Sec. 12A:9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Sec. 12A:9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Sec. 12A:9-502(2).)

Sec. 12A:9-501 et seq

NM

If repossession discussed with debtor the secured party must give a ten day notice otherwise peaceful repossession allowable

Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.

Only if contract permits repossession, sale and deficiency

Article 9: 55-9-101 et, al.

NV

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (NRS 104.9506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (NRS 104.9502(2).)

NRS Chapter 104

NY

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Chptr. 38, Art. 9, Part 5, Sec. 9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Chptr. 38, Art. 9, Part 5, Sec. 9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Chptr. 38, Art. 9, Part 5, Sec. 9-502(2).)

Article 9; Cons. UCC laws.

OH

When a debtor default on a secured obligation, the creditor generally has a right to take possession of the collateral with judicial process, or without judicial process if the taking can be done without breach of the peace.

A debtor may redeem the collateral by tendering full fulfillment of the secured obligation plus all expenses reasonably incurred by the creditor prior to the sale of the collateral. (O.R.C. 1309.49.) If the debtor fails to cure the default, the collateral may generally be disposed of in a commercially reasonable manner in a public or private sale except for collaterals involving a consumer transaction. (O.R.C. 1317.16.) In a retail installment contract involving a consumer transaction, the creditor must give the debtor a written notice, within five (5) days after taking possession of the collateral, of the circumstances constituting the default and the terms for curing the default. If the debtor fails to cure the default within twenty (20) days after the creditor retakes possession of the collateral, or fifteen (15) days the giving of notice, whichever is later, the secured creditor may dispose of the collateral by public sale only after giving a notice of sale. The required notice of public sale must be sent by certified mail, with return receipt requested, at least ten days prior to the sale, and must contain specific information such as the date, time and place of the sale, the minimum price for the collateral, and a statement that the debtor may be held liable for any deficiency resulting from the sale. In addition, at least ten (10) days prior to the sale, the creditor must publish a notice of sale in a newspaper of general circulation in the county where the sale is to be conducted. The notice of a debtor's right to cure default and notice of sale may be combined in one.

If a creditor fails to give these notices, it may not be permitted to recover the cost of retaking possession of the collateral and may not be entitled to a deficiency judgment. (O.R.C. 1317.12.)

Ohio UCC Code

OK

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. (12A-9-504(1).) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (12A-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. With exception to transactions involving consumer goods, notice to any holder of a subordinate lien is also required. (12A-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (12A-9-502(2).)

12A-9-101, et seq.

OR

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (ORS 79.5060.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (ORS 79.5040(3).)

ORS 79.1010 et seq.

PA

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (13 Pa.C.S. § 9506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (13 Pa.C.S. § 9504(3).)

13 Pa.C.S. 9101, et seq

RI

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (§ 6A-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor.

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. ( § 6A-9-504(3).)

§ 6A-9-101, et seq.

SC

Peaceful repossession allowed; twenty day cure law in effect

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (36-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. With exception to transactions involving consumer goods, notice to any holder of a subordinate lien is also required.(36-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (36-9-502(2).)

36-9-101, et seq.

SD

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 57A-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency. (Section 57A-9-502(2).

SD Code Section 57A-9

TN

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (47-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (47-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (47-9-502(2).)

47-9-101 et seq.

TX

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Bus & Comm C. 9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Bus & Comm C. 9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Bus & Comm C. 9-502(2).)

Bus & Comm C. 9-101 et seq.

UT

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Utah Code 70A-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Utah Code 70A-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Utah Code 70A-9-502(2).) However, under the Uniform Consumer Credit Code (Title 70C of the Utah Code), a creditor may not seek a deficiency judgment if it repossesses or voluntarily accepts the surrender or return of consumer goods in which it has a security interest of consumer goods having a value of $3,000.00 or less. (Utah Code 70C-7-101.)

Title 70A, Chapt. 9 of Utah Code

VA

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (VA Code 8-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (VA Code 8-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (VA Code 8-9-502(2).)

VA Code 8-9

VT

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (U.C.C. 9A-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (U.C.C. 9A-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (U.C.C. 9A-9-502(2).)

U.C.C. 9A-9-101

WA

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (RCW 62A.9-506.)Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (RCW 62A.9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (RCW 62A.9-502(2).)

RCW 62A.9-501.

WI

Debtor required to sign voluntary surrender of Collateral or Replevin Judgment granted through legal action for possession of collateral.

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (Sec. 409.506.)Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Sec. 409.504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (Sec. 409-502(2).)

Sec.409.501 et seq.

WV

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (§46-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (§46-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (§46-9-502(2).)

§46-9-101

WY

Peaceful repossession allowed

After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner, by public or private sale. Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor. (WS 34.1-9-506.) Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (WS 34.1-9-504(3).)

A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor may be liable for any deficiency. (WS 34.1-9-502(2).)

WS 34.1-9-101 et seq.