myscoresawful Posted May 1, 2007 Report Share Posted May 1, 2007 I am posting this code in collections since I am fighting a collection and OC over a car that was repo'd 4 years ago and no notice was ever sent to me, for redeemption rights or notice of private or public sale, either before or after the sale.The code covers both when a notice is not sent as well as when a vechicle is sold for an unreasonable amount.Hope it helps someone else.§ 9-507. Secured Party's Liability for Failure to Comply With This Part.(1) If it is established that the secured party is not proceeding in accordance with the provisions of this Part disposition may be ordered or restrained on appropriate terms and conditions. If the disposition has occurred the debtor or any person entitled to notification or whose security interest has been made known to the secured party prior to the disposition has a right to recover from the secured party any loss caused by a failure to comply with the provisions of this Part. If the collateral is consumer goods, the debtor has a right to recover in any event an amount not less than the credit service charge plus ten per cent of the principal amount of the debt or the time price differential plus 10 per cent of the cash price. (2) The fact that a better price could have been obtained by a sale at a different time or in a different method from that selected by the secured party is not of itself sufficient to establish that the sale was not made in a commercially reasonable manner. If the secured party either sells the collateral in the usual manner in any recognized market therefor or if he sells at the price current in such market at the time of his sale or if he has otherwise sold in conformity with reasonable commercial practices among dealers in the type of property sold he has sold in a commercially reasonable manner. The principles stated in the two preceding sentences with respect to sales also apply as may be appropriate to other types of disposition. A disposition which has been approved in any judicial proceeding or by any bona fide creditors' committee or representative of creditors shall conclusively be deemed to be commercially reasonable, but this sentence does not indicate that any such approval must be obtained in any case nor does it indicate that any disposition not so approved is not commercially reasonable. Link to comment Share on other sites More sharing options...
Determined1 Posted May 1, 2007 Report Share Posted May 1, 2007 Hi Scores,Do you know what all of the proper notices are to be sent? I've been looking for this for sometime, for an old repo in CA in 2000. Any info would be appreciated! Link to comment Share on other sites More sharing options...
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