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ABANDONMENT
collateral by creditor, 12.5.6
ACCELERATION
see also DEFAULT
arbitrary or unreasonable, 4.2.3
automatic versus optional, 4.1.3
at will, 4.2.2, 4.2.3, 14.2.2.3
bad faith, 4.2.2.2, 4.2.3
bankruptcy situations, 4.2.5
creditor insecure, 4.2.2
cure prior to, 4.1.7.3
default, relationship, 4.1.3
discriminatory, 4.2.4
grounds
strict construction, 4.1.4
typical, described, 4.1.5
validity under UCC, 4.1.5, 4.2.2.2
interest and penalties after, 11.3.2.3
leases, 14.2.2.3, 14.2.2.4
manufactured home first mortgage loans, 4.5.3.3
military personnel, 4.2.6
non-payment, 4.2.1, 4.3.1, 4.4.3
notice rights, 4.1.6, 4.1.7
prepayment, treatment as, 11.3.2.2.1
provision in agreement required, 4.1.4
redemption after, tender amount, 9.3.1, 9.3.6.3
restrictions, 4.2, 4.3.1
state law, 4.2.1, 4.2.2.3, 4.2.3, 4.2.7
retaliatory, 4.2.4
unconscionable, 4.2.3
unearned interest rebate, 4.1.6, 11.3.2.2.1
unfair or deceptive practices, 13.4.3.1
waiver of creditor rights, 4.3
acceptance of breach, 4.3.2
anti-waiver provisions, 4.3.4
consumer leases, 14.2.2.4
late payment acceptance, 4.3.1
oral representations, 4.3.3
waiver of notice, 4.1.7
notice despite waiver, circumstances, 4.1.7.3
strict construction, 4.1.7.2
UDAP violations, 4.1.7.4
unconscionability, 4.1.7.4
validity, 4.1.7.1
yo-yo sales, 4.6.3.2
ACCESSIONS
see also AFTER-ACQUIRED PROPERTY
defined, 3.8.4
manufactured homes, 3.8.4, 7.1
motor vehicles, 3.8.4
security interests in, 3.8.4
ACCOMMODATION PARTIES
codebtor bankruptcy stay, 8.2.2.2
common law, application, 12.9.1.3, 12.9.4.1
cosigner definition, 12.9.1.1
FTC definition, 12.9.6.1
debtor status 12.9.5.1.1
defenses to deficiency action, 12.9
bad faith, 12.9.5.2
burden of proof, 12.9.3.3, 12.9.5.1.2
collateral impairment, 12.9.3.2.3, 12.9.3.4.2
commercially unreasonable sale, 12.9.5.1
common law, 12.9.4
extension of due date, 12.9.3.2.1, 12.9.3.4.1, 12.9.3.4.3
generally, 12.9.1.2, 12.9.3.1
modification of terms, 12.9.3.2.2, 12.9.3.4.1
notice violations, 12.9.5.1, 12.9.6
release of principal, 12.9.3.2.4, 12.9.3.3
special defenses, 12.9.1.3
UCC Article 3, 2.3.1.3, 12.9.3
unknown risks, 12.9.4.3, 12.9.6
waiver of defenses, 12.9.3.2.5, 12.9.3.4.2, 12.9.3.4.3
defined, 12.9.1.1
Article 3 definition, 12.9.2
FTC cosigner notice, 12.9.6.1
guarantor, definition, 12.9.1.1
injunctive relief, 13.2.2
nature of liability, 12.9.1.1
notice of sale of collateral
description of liability, 10.4.11.7
receipt, 10.4.6.1, 12.9.5.1
waiver, 10.4.7.2
recourse against other sureties, 12.9.7
recourse against principal debtor, 12.9.1.1, 12.9.7
redemption rights, 9.3.4
replevin actions
creditor’s bond, 5.4.4.1
debtor’s counter-bond, 5.4.4.2.1
repossession sale rights, 12.9.5.1
notice of sale, 10.4.6, 10.4.10, 12.9.5.1.2
reservation of rights by creditor, 12.9.3.2.5, 12.9.3.4.3
secondary obligor, defined, 2.2.5.2, 12.9.5.1.1
state protections, 12.9.6.2
status as, 12.9.2
statutory damages, entitlement, 12.9.1.2, 13.2.4.4
surety, definition, 12.9.1.1
UCC Article 3, application, 2.3.1.3, 12.9.1.3
UCC Article 9, application, 2.2.3.1, 12.9.5.1.1
UCC remedies, standing, 13.2.4.4
waiver of rights
impairment of collateral defense, 12.9.3.4.2, 12.9.3.4.3
notice of sale, 10.4.7.2
proper repossession, 13.10.2
validity, 12.9.3.2.5, 12.9.3.4.2, 12.9.5.1
ACCORD AND SATISFACTION
elements, 12.5.9.4
voluntary surrender of collateral, 6.2.1, 12.3.3, 12.5.9.4
ACCOUNT
revised Article 9 definition, 2.2.5.3
ACCOUNT DEBTOR
revised Article 9 definition, 2.2.5.3
ACTIONS
see also LEGAL PROCEEDINGS
civil rights, see CIVIL RIGHTS ACTIONS
class, see CLASS ACTIONS
conversion, see CONVERSION ACTIONS
counterclaims, see COUNTERCLAIMS
debt collection, see ACTIONS ON THE DEBT
deficiency actions, see DEFICIENCY ACTIONS
foreclosures, see JUDICIAL FORECLOSURES
limitations period, see STATUTE OF LIMITATIONS
repossessions, see REPLEVIN ACTIONS; WRONGFUL REPOSSESSION REMEDIES
stays, see STAY OF PROCEEDINGS
tort, see TORT CLAIMS
ACTIONS ON THE DEBT
alternative to repossession, 10.5.1
bankruptcy forum, litigating in, 8.1.1
bankruptcy stay, 8.2.4.1
deficiency actions, see DEFICIENCY ACTIONS
election-of-remedy statutes, 12.4.1
judgments, execution, 12.4.7
leases, defenses, 14.2.10, 14.2.11
military personnel, against, 6.3.5.1.1
plaintiff must own obligation, 14.2.11.2
repossession, simultaneous, 12.2.2
ACTUAL DAMAGES
see also DAMAGES
availability, 13.2.3.1
class actions, 13.2.6.1
components, 13.2.3.2
consequential damages, see CONSEQUENTIAL DAMAGES
deficiency bar combined with, 13.2.7
deficiency set-offs, burden of proof, 12.6.4
statute of limitations, 13.2.8
statutory damages concurrent with, 13.2.6.3
tort claims, 13.6.10
wrongful replevin, 5.5.2.3
ADHESION CONTRACTS
see also SECURITY AGREEMENTS
UDAP violations, 13.4.3.3
ADJUSTED LEASE BALANCE
see also AUTOMOBILE LEASES; PERSONAL PROPERTY LEASES
charges, inclusion, 14.2.9.1
constant rate of return, calculation, 14.2.6.4
explained, 14.2.6.4
realized value calculations, 14.2.8
residual value calculations, 14.2.8
ADVERTISEMENTS
private repossession sales, 10.8.6
public repossession sales, 10.8.5
AFFIDAVITS
see also PLEADINGS
reaffirmation agreements, 8.8.1
replevin, ex parte writs, 5.4.2.5
AFTER-ACQUIRED PROPERTY
see also ACCESSIONS; CROSS-COLLATERAL CLAUSES
security interests
accessions, 3.8.4
consumer goods, 3.4.6
distinguishing, 3.3.7.2
enforceability, 3.3.7.2, 3.4.6
AGENTS
liability of principal for actions of, 7.4.1.6, 13.10.4
RTO transactions, 14.3.7
AGREEMENTS
adhesive, see ADHESION CONTRACTS
anti-assignment clauses, validity, 2.2.4.8.2
choice of law, see CHOICE OF LAW
credit, see SECURITY AGREEMENTS
FTC, see FTC CONSENT AGREEMENTS
leases, see PERSONAL PROPERTY LEASES
pledges, see PLEDGES
repurchase, see REPURCHASE AGREEMENTS
RTO, see RENT-TO-OWN (RTO) TRANSACTIONS
security, see SECURITY AGREEMENTS
ANACONDA CLAUSES
see FUTURE ADVANCE CLAUSES
ANNUITIES
UCC Article 9, application, 2.2.4.8.2
ANTECEDENT DEBT CLAUSES
see also FUTURE ADVANCE CLAUSES
automobiles, 3.8.6
FTC restrictions, 3.6.4
generally, 3.6.1
judicial enforcement, 3.6.3
manufactured homes, 3.8.6
negative equity trade-ins and, 8.7.3.2
ANTI-DEFICIENCY STATUTES
dollar limitations, 12.4.2
election of remedy, 12.4.1, 12.4.8
excessive collateral damage, 12.4.6
foreclosure pursuant to judgment, 12.4.7
overview, 12.4.1
remedies, 12.4.9
scope
Illinois, 12.4.5
types of credit, 12.4.3
types of goods, 12.4.4
statutory damages, effect, 13.2.7.4
ANTIQUES
see also CONSUMER GOODS
collateral description, 3.3.7.3
FTC Credit Practices Rule, application, 3.3.4.2.2
APPLIANCES
see HOUSEHOLD GOODS
APPRAISALS
leased vehicles
realized value, 14.2.8.6
resale value, 14.2.5
repossession sales, need for, 10.8.8
ARBITRATION
advantages, 13.11.3.4
avoiding, 13.11.3.1, 13.11.3.2
bankruptcy situations, 13.11.3.2.4
CFPB limits, 13.11.3.2.3
class arbitration, 13.11.3.4.1
determination of arbitrability, 13.11.3.3
manufactured home loans, 13.11.3.2.1
military personnel, 13.11.3.2.2
NAF as designated forum, 13.11.3.2.6
punitive damages, 13.11.3.4.2
replevin and, 5.5.2.2
unconscionability, 13.11.3.2.9
usurious contracts, 13.11.3.2.12
waiver, 13.11.3.2.8
ART
see WORKS OF ART
ARTICLE 1 (UCC)
see UCC ARTICLE 1 (GENERAL PROVISIONS)
ARTICLE 2 (UCC)
see UCC ARTICLE 2 (SALES)
ARTICLE 2A (UCC)
see UCC ARTICLE 2A (LEASES)
ARTICLE 7 (UCC)
see UCC ARTICLE 7 (DOCUMENTS OF TITLE)
ARTICLE 9 (UCC)
see UCC ARTICLE 9 (SECURED TRANSACTIONS)
ARTISAN’S LIENS
see also STATUTORY LIENS
labor and skill, 15.5.2
statutory liens, 15.4
ASSAULT AND BATTERY
see also BREACH OF THE PEACE
self-help repossessions, 6.4.2
tort claims, 13.6.5
ASSIGNMENTS
anti-assignment clauses, validity, 2.2.4.8.2
annuities and tort settlements, 2.2.4.8.2
breach of contract claims, effect, 4.4.3.5
default determination, 4.1.2, 4.2.1
discharge of debtor’s obligation, 4.2.1, 12.3.2
disposition status, 10.1.3
FTC Holder Notice, see FTC HOLDER NOTICE
future advance clauses, effect, 3.6.2.4
holders in due course, see HOLDERS IN DUE COURSE
insurance policies, cancellation after repossession, 11.3.3.3
notice, 4.2.1
repossession sales, notice provider, 10.4.2
repurchase agreements, see REPURCHASE AGREEMENTS
retail installment sales contracts
by debtor, 10.4.6.3
by seller, 6.3.1
repurchase agreements, 10.10.4
security agreements, effect, 3.4.4, 4.1.2, 4.2.1, 12.3.2
statutory liens, 15.4
UCC Article 9, application, 2.2.4.8
“with recourse,” 10.10.4.1
ATTACHMENTS
see also EXECUTIONS; SEIZURE
bankruptcy stay, 8.2.4.1
ATTORNEY FEES AND COSTS
see also ATTORNEYS; DAMAGES; EXPENSES
bankruptcy, collection by creditor, 8.6.3
contract claims, 13.11.6
consumer entitlement, 11.3.6.4, 13.2.3.2, 13.11.6
consumer liability, 11.3.6.4
FDCPA, 13.11.6
redemption, tender, 9.3.6.1
replevin actions, 5.4.3.7
tort claims, 13.6.1
UDAP claims, 13.2.3.2, 13.11.6
wrongful deficiency actions, 13.2.3.2, 13.11.6
wrongful repossessions or dispositions, 13.2.3.2, 13.11.6
ATTORNEYS
FDCPA, application, 13.5.1.3.1
fees, see ATTORNEY FEES AND COSTS
handling repossession cases, 1.3
importance, 1.3.1
specialization, 1.3.2
notice of sale, receipt, sufficiency, 10.4.6.1
practice tips, see PRACTICE TIPS
research aids, see RESOURCE AIDS
surety, acting as, 5.4.4.2.1
AUCTIONS
commercial reasonableness, 10.7.4, 10.8.2
insider purchases, 10.10.2
manner of conducting, 10.8.2
private, see DEALERS ONLY AUCTIONS
public, see PUBLIC SALES
public sale status, 10.6.2
wholesale, see DEALERS ONLY AUCTIONS
AUTOMATIC STAY
see under BANKRUPTCY
AUTOMOBILE AUCTIONS
see AUCTIONS; DEALERS ONLY AUCTIONS; PUBLIC SALES
AUTOMOBILE LEASES
see also PERSONAL PROPERTY LEASES
acceleration, 14.2.2.3
adjusted lease balance, see ADJUSTED LEASE BALANCE
closed-end leases, 14.2.1.2
default
notice requirements, 14.2.2.1
right to cure, 14.2.3
types leading to repossession, 14.2.2
default or early termination liability, see EARLY TERMINATION CHARGES
early termination value, 14.2.8.1
excess use and wear charges, 14.2.8.7
loss of vehicle, 14.2.9.6
military personnel, 14.2.2.5, 14.2.9.5
open-end leases, 14.2.1.3
realized value
defined, 14.2.6.2
determination, 14.2.8.5
importance, 14.2.8.1
exceeding residual value, 14.2.8.2
low realized value, 14.2.8
sale price, 14.2.8.5
rebates of unearned charges, 14.2.9.2
reinstatement, 14.2.3
rent-to-own transactions distinguished, 14.2.1.4
repossessions
see also REPOSSESSIONS
applicable law, 14.2.1
breach of the peace, 14.2.4
resale value, appraisals, 14.2.5, 14.2.8.6
residual value
credit for, 14.2.8.9
defined, 14.2.6.2
early termination formulas based on, 14.2.6.5
generally, 14.2.8.1
inflated residual values, 14.2.8.3
manufacturer “supported” residual values, 14.2.8.4
sale of repossessed vehicles, 14.2.5
security deposits, 14.2.9.7
selling expenses, 14.2.8.8
state law, 2.3.3.11
UCC Article 9 or 2A, application, 14.2.1
AUTOMOBILE PAWNS
see AUTOMOBILE TITLE LOANS
AUTOMOBILE REPAIRS
liens, see GARAGEMEN’S LIENS
loans, liens re, 15.8.3
AUTOMOBILE TITLE LOANS
see also NON-PURCHASE-MONEY SECURITY INTERESTS; POSSESSORY SECURITY INTERESTS
applicable law, 3.8.7.2
bankruptcy context, 3.8.7.8
turnover provisions, application, 8.3.2
military personnel, 3.2.8, 3.8.7.1, 3.8.7.2, 13.11.3.2.2
nature of transaction, 3.8.7.1
pre-repossession notices, 3.8.7.4
redemption rights, 3.8.7.4
repossession sales
deficiencies, 3.8.7.7
manner and notice, 3.8.7.6
surpluses, 3.8.7.7
security interest, creation, 3.8.7.3
state law, 2.3.2.1, 3.8.7.2, 3.8.7.8
notices, 3.8.7.4, 3.8.7.6
repossession sales, 3.8.7.6
right to cure, 3.8.7.4
security interest creation, 3.8.7.3
strict foreclosure, 3.8.7.5
UCC Article 9, 3.8.7.2—3.8.7.7
AUTOMOBILES
see also MOTOR VEHICLE INSTALLMENT SALES
accessions, 3.8.4
anti-deficiency statutes, application, 12.4.2, 12.4.4
auctions, see DEALERS ONLY AUCTIONS; PUBLIC SALES
bankruptcy
stripdown, 8.7.3.1
valuation, 8.6.2.4.2
certificate of title, retention by seller, 3.8.2.2
churning schemes, 10.7.2.3, 10.10.5
see also REVOLVING REPOSSESSION SCHEMES
dealers, see DEALERS
electronic disabling devices, 6.6.1
force-placed insurance, 3.8.6, 11.3.2.4
leases, see AUTOMOBILE LEASES
manufactured homes, status, 2.3.2.3
non-purchase-money security interests, see AUTOMOBILE TITLE LOANS
pricing guides
use to establish market value, 10.9.5.1
websites, 10.9.5.1
rent-to-own transactions, 14.2.1.1, 14.2.1.4
repairs, see AUTOMOBILE REPAIRS
repossession, see REPOSSESSIONS; SELF-HELP REPOSSESSIONS
repossession sales, see DEALERS ONLY AUCTIONS; REPOSSESSION SALES
sales by debtor, 9.6
consignment sales, 9.6.4
creditor involvement, 9.6.2
creditor permission, 9.6.1, 9.6.3
security interests, 3.8
see also SECURITY INTERESTS
added property, 3.8.3, 3.8.4
allowed secured claims, 8.6.2.4.2
antecedent debt clauses, 8.7.3.2, 3.8.6
Article 9 rules, 3.8.2.1
common errors, 3.8.2.1
creation, 3.8.2
force-placed insurance premiums, 3.8.6
future advance clauses, 3.8.6
generally, 3.8.1
insurance proceeds, 3.8.5
perfection, 3.4.3.4
retention of certificate of title, 3.8.2.2
title loans, 3.8.7.3
trade-ins, 8.7.3.2, 3.8.5
transfer to another state, effect, 3.4.3.4.1
spot delivery, 4.6
title loans, see AUTOMOBILE TITLE LOANS
wholesale dispositions, see WHOLESALE DISPOSITIONS
yo-yo sales, 4.6
BAD FAITH
see also GOOD FAITH
acceleration
burden of proof, 4.2.2.2, 14.2.2.3
factual determination, 4.2.2.2
liens, waiver, 15.9
replevin actions, 5.4.2.9.1
repossession cases, 13.3.1
UCC remedies, 13.3.2
BAIL
see REPLEVIN ACTIONS
BAILMENTS
consignment of goods, 9.6.4
constructive bailment, 2.3.4.2.1
creation of bailment, 2.3.4.2.1, 7.2
duties of bailee, 2.3.4.2.2, 7.2
express bailment, 2.3.4.2.1
fees, liability for, 7.3.3
liens, creation, 15.7.4, 15.14.4
overview, 2.3.4.2
remedies, 2.3.4.2.4
repossession by bailor, 2.3.4.2.3
security interest distinguished, 2.3.4.2.5
UCC Article 9 exclusion, 2.2.4.3.1
unsecured property seized, 7.2, 7.3.3, 7.4.1.2, 7.4.1.4
yo-yo sales, 4.6.2.5, 4.6.4
BALANCE PROTECTION PLANS
see GAP INSURANCE
BANKRUPTCY
see also TRUSTEES IN BANKRUPTCY
acceleration restrictions, 4.2.5
accommodation party claims, filing, 12.9.7
adequate creditor protection, 8.2.7.4, 8.6.2.2
allowed secured claims, 8.6
determining, 8.6.2.4
eliminating balance, 8.7
filing, 8.6.2.3
generally, 8.6.1
objecting to, 8.6.2.4.1
valuation, 8.6.2.4
arbitration of bankruptcy matters, 13.11.3.2.4
automatic stay of proceedings
codebtor stay, 8.2.2.2
duration, 8.2.3
electronic repossessions, 6.6.2.3.3
enforcement, 8.2.6
limitations on, 8.2.3.2
notice, 8.2.5
obtained by filing, 8.2.2.1
purpose, 8.2.1
RTO repossessions, 14.3.5.6
scope, 8.2.4
violations, remedies, 8.2.6
automobile title loans and, 3.8.7.8
avoidance of prebankruptcy transfers and liens, 8.4
exempt property, 8.4.2
fraudulent conveyances, 8.4.6.4
general principles, 8.4.3
involuntary transfers, 8.4.6.1
judicial liens, 8.4.5
limits, 8.4.6.5
non-possessory, non-purchase-money interests, 8.4.4
overview, 8.4.1
preferences, 8.4.6.3
procedures, 8.4.7
stay violations, 8.2.6.1
strong arm clause, 8.4.6.2
trustee’s powers, use by debtor, 8.4.6
unperfected security interests, 3.4.3.2
banks, effect on deficiency action defenses, 12.10
choosing, considerations, 8.1.1
collateral
adequate protection, 8.2.7.4
exempt property, 8.4.2
right of redemption, 8.5
statement of intention, 8.9.1
turnover, 8.3
unperfected interests, 3.4.3.2
valuation, 8.2.7.9, 8.6.2.4
consumer as creditor, 8.11
cramdown, 8.6.2
dealer holding goods on consignment, 9.6.4
deficiency, inclusion in discharge, 1.3.2
electronic repossessions, application, 6.6.2.3.2
exempt property, 8.4.2
home loan defaults, 8.6.3
household goods, protections, 3.3.3.1, 8.4.4
liens, reducing, 8.7
long term debt cure, 8.6.3
mortgage default, 8.6.3
negative equity, 8.7.3.2
plans
confirmation, 8.6.2.4.4
payments, failure to credit, 8.6.3
reaffirmation agreements
disclosure requirements, 8.8.1
lender abuses, 8.8.2.2
restrictions, 8.8.1
statement of intention, 8.9.1, 8.9.2.3
store credit cards, 8.8.2
redemption rights
payment in full, 8.5.3
practical considerations, 8.5.4
purpose, 8.5.1
restrictions, 8.5.2
statement of intention, 8.9.1, 8.9.2.3
relief from stay, 8.2.7
burden of proof, 8.2.7.8, 8.2.7.9
counterclaims, raising, 8.2.7.7
defenses, raising, 8.2.7.7
discovery, 8.2.7.6
form of proceeding, 8.2.7.2
grounds, 8.2.7.4
overview, 8.2.7.1
parties, 8.2.7.5
statement of intention, noncompliance, 8.9.2
stay pending appeal, 8.2.7.10
store creditors, 8.8.2.3
time limits, 8.2.7.3
valuing collateral, 8.2.7.9
repetitive filings, restrictions, 8.2.3.2
replevin after, 5.2.5
repossession alternative, 6.2.2
repossession prevention, 2.3.3.7, 8.1, 8.2.4.2, 13.8
repossessor after judgment, 8.11
research aids, 1.2.3, 2.3.3.7, 8.1.2
RTO transactions, 8.10, 14.3.5.6
section 506 use, 8.7.1
chapter 7, 8.7.2
chapter 13, 8.7.3.1
statement of intention, 8.9
noncompliance, 8.9.2
requirements, 8.9.1
stripdown or stripoff, 8.7
allowed secured claims, 8.6.1, 8.7
limitations in chapter 13, 8.7.3
long-term debt, right to cure, 8.6.3
modification of creditor rights, 8.6.2
restrictions in chapter 7, 8.7.2
stripdown, defined, 8.7.1
stripoff, defined, 8.7.1
turnover of repossessed property, 8.2.4.2, 8.3
adequate protection, 8.3.2, 8.3.3
enforcement, 8.2.6.1, 8.3.2
general rule, 8.3.1
possession issues, 8.3.4
procedure, 8.3.3
scope, 8.3.2
time, 8.2.5
unsecured claims, 8.7
BANKS
see FEDERAL LENDING INSTITUTIONS
BONDS
injunctive relief
lien release, 15.14.2
repossession sale, 13.2.2
professional repossessors, posting, 13.5.5, 13.10.4.3
replevin actions, 5.4.4, 13.6.12
creditor’s bond, 5.4.4.1
debtor’s counter-bond, 5.4.4.2
BREACH OF CONTRACT
attorney fees, 13.11.6
bailment remedy, 2.3.4.2.4
default defense, 4.4.3
withholding payments re, 4.4.3
wrongful repossessions, 13.6.13
BREACH OF THE PEACE
see also THREATS; TRESPASS
auto lease repossessions, 14.2.4
bailor repossessions, 2.3.4.2.3
conversion action, 13.6.2.2
creditor liability, 13.10.4.2.1
definition, 6.4.1
electronic repossessions, 6.6.2.3.1
liability insurance, 13.10.4.3
non-delegable duty, 13.10.4.2.1
RTO repossessions, 14.3.5
self-help repossessions, 6.4
after repossession, 6.4.5
deception, 6.4.8
despite objection, 6.4.4
generally, 6.4.1
inciting violence, 6.4.3
liability for, 6.4.10
physical force, 6.4.2
police officers, use, 6.4.7
risk of injury, creating, 6.4.3
sample complaint, Appx. D.4
stealth, 6.4.8
threats, 6.4.3
trespass, 6.4.6
trickery, 6.4.8
unsuccessful attempts, 6.4.5
waiver, 6.4.9
tort remedies, 13.6
UCC remedies, 13.2.4.2
unfair and deceptive practice, 13.4.3.1
waiver, 6.4.8
yo-yo repossessions, 4.6.3.4
BURDEN OF PROOF
see also EVIDENCE
acceleration, bad faith, 4.2.2.2, 14.2.2.3
bailments, negligence, 2.3.4.2.2, 7.4.1.2
bankruptcy proceedings
attorney fee entitlement, 8.6.3
relief from stay proceedings, 8.2.7.8, 8.2.7.9
commercial reasonableness, 10.2.5, 10.7.2.1, 12.6.1
Article 9 rules, 10.2.5.1, 12.6.1.1, 12.6.1.2
debtor’s affirmative suit, 10.2.5.3
deficiency situations, 10.2.5.2
conversion actions, default justification, 13.6.2.2
deficiency actions
accommodation party defenses, 12.9.3.3, 12.9.5.1.2
commercially reasonable sale, 10.2.5, 12.6.1
deficiency, 12.6.1.4, 12.6.3
elements to be proved, 12.8.4
notice preconditions, 12.8.2
public or private sale, 10.4.11.4
set-offs, 12.6.4
leases, status, 14.1.2.3.1
liens, validity, 15.7.1
purchase-money nature of security interest, 3.3.3.4
replevin actions, 5.4.3.5, 5.5.2.1
repossession sales
adequate advertisement, 10.8.5
commercial reasonableness, 10.2.5, 12.6.1
insider sales, 11.3.5.5
low sale price commercially reasonable, 10.9.2
notice compliance, 10.4.9, 12.6.1.1
right to cure, notice compliance, 4.5.2.2
significant impairment, 4.2.7
UCC Article 9 compliance, 10.2.5.1, 12.6.1.1, 12.6.1.2
unsecured property taken with repossession, 7.4.1.1
value of collateral, 10.5.2, 12.6.3.3, 12.6.4
BUSINESS PURPOSE LOANS
partial strict foreclosure, 9.4.5
purchase-money security interests, 3.3.3
secured by consumer purpose collateral, 2.2.5.1
signed security agreement, necessity, 3.2.1.2.2
CALCULATION OF DEFICIENCY OR SURPLUS
see also DEFICIENCY ACTIONS; SURPLUSES
analyzing a repossession case, 1.4.9
balance due on debt, 11.3.2
credits for insurance payments, 11.3.2.5
force-placed insurance premiums, 11.3.2.4
interest and penalties, 11.3.2.3
remainder before adjustments, 11.3.2.1
unearned interest rebates, 11.3.2.2
collateral value credit, 11.3.4
insider dispositions, 11.3.5
explanation to consumer, 11.2
accommodation parties, 12.9.5.1.2
failure to provide, 11.2.3, 12.6.6
fee, 11.2.1
form and content, 11.2.2
generally, 11.2.1
generally, 11.3.1
insider sales, 11.3.5
insurance rebates, 11.3.3
canceling insurance, 11.3.3.3
computing rebates, 11.3.3.3
determining insurance purchased, 11.3.3.2
generally, 11.3.3.1
reconditioning or repair
computing expenses, 11.3.6.2.2
validity, 11.3.6.2.1
repossession-related expenses, 11.3.6
attorney fees, 11.3.6.4
reconditioning or repair, 11.3.6.2
seizing and storing, 11.3.6.1
selling expenses, 11.3.6.3
towing, 11.3.6.1
sale price
determining, 11.3.4, 11.3.5
trade-in adjustments, 11.3.4.4
tribal law, 12.6.7
unearned interest rebates
acceleration treated as prepayment, 11.3.2.2.1
computing rebates, 11.3.2.2.2
failure to rebate, remedies, 11.3.2.2.4
rebate waiver, effect, 11.3.2.2.3
unfair or deceptive practices, 13.4.3.1
CARS
see AUTOMOBILES
CASE LAW
see also COMMON LAW
FDCPA, 2.3.3.5
research aids
Clearinghouse citations, 1.1.6
UCC interpretation, 1.2.1
unreported decisions, 1.1.6
state debt collection statutes, 2.3.3.6
unconscionability, 13.4.5
CERTIFICATES OF TITLE
see also OWNERSHIP; TITLE
automobiles, requirements, 3.8.2.1, 3.8.2.2
clear title after revocation of acceptance, 4.4.2.2.1
listing of lien, validity
debtor’s rights in collateral, 3.2.6
missing attachments, 3.2.7.3
necessity, 3.2.9, 3.8.2.1
owner’s signature, 3.2.6.1
specific grant of security interest, 3.2.2.2, 3.8.2.1
manufactured homes, requirements, 3.8.2.1, 3.8.2.2
title-purging statutes, 5.3.3
perfection of security interest, requirements, 3.4.3.4, 3.8.2.1
possession, effect as security interest, 3.2.1.2.1
retention by seller, 3.8.2.2
“strict title” states, 3.8.2.2.1, 3.8.2.2.2
UCC Article 9 requirements, 3.2.9
CHARGES
see also LIENS; MORTGAGES
early termination, see EARLY TERMINATION CHARGES
fees, see FEES
filing charges, see FILING CHARGES
finance charges, see FINANCE CHARGES
interest, see INTEREST
late charges, see LATE CHARGES
unearned charges, see UNEARNED CHARGES
CHATTEL MORTGAGES
see SECURITY INTERESTS
CHATTEL PAPER
revised Article 9 definition, 2.2.5.3
CHATTEL TRESPASS
see TRESPASS TO CHATTELS
CHATTEL TRUSTS
see SECURITY INTERESTS
CHATTELS
see PERSONAL PROPERTY
CHOICE OF LAW
contracts with choice of law clause, 2.4.3
contracts without choice of law clause, 2.4.2
perfection of security interest, 3.2.9
state consumer protection laws, 2.4.4
UCC application, 2.4.1
CHURNING SCHEMES
see REVOLVING REPOSSESSION SCHEMES
CIVIL LIABILITY
see also LIABILITY; REMEDIES
conversion, see CONVERSION ACTIONS
damages, see DAMAGES
due process violations, see CIVIL RIGHTS ACTIONS
repossession, hindering, 6.2.4.3
Servicemembers Civil Relief Act, 6.3.5.1.6
theft claims, 13.4.4
tort claims, see TORT CLAIMS
CIVIL RIGHTS ACTIONS
see also CONSTITUTIONAL ISSUES; DUE PROCESS
cause of action, 13.7.2
lien claimants, 15.14.5
potential defendants, 13.7.3
remedies, 13.7.2
repossession practices, 2.3.3.2, 13.7
self-help repossessions, 2.3.3.2, 6.3.6.5, 6.4.7, 13.7.1
sample complaint, Appx. D.4
CLAIM AND DELIVERY
see REPLEVIN ACTIONS
CLASS ACTIONS
actual damages, 13.2.6.1
arbitration proceedings, 13.11.3.4.1
churning schemes, 10.10.5
sample complaint, Appx. D.5
statutory damages, 13.2.6.1
CLOSED-END LEASES
see AUTOMOBILE LEASES
CODEBTORS
see ACCOMMODATION PARTIES; DEBTORS
COERCION
voluntary surrender resulting from, 6.3.5.1.3
COLLATERAL
acceptance in full satisfaction, see STRICT FORECLOSURE
accessions, see ACCESSIONS
added property, 3.8.3, 3.8.4
after-acquired property as, 3.3.7.2, 3.8.4
analyzing a repossession case, 1.4.8
antecedent debt clauses, see ANTECEDENT DEBT CLAUSES
automobiles as, 3.8
bankruptcy, protecting through, see BANKRUPTCY
conversion actions, 13.6.2.1, 13.6.2.2
credit card purchases, payment allocations, 3.9.4
credit property insurance, see CREDIT PROPERTY INSURANCE
cross-collateral clauses, see CROSS-COLLATERAL CLAUSES
damage by debtor, 12.4.6
debtor’s rights in, requirements, 3.2.6
defective disposition, 6.3.1, 12.6
descriptions, 3.2.7.1, 3.3.7
disabling devices, 6.6.1
disposition after repossession, 10.1
see also REPOSSESSION SALES
repurchase agreements, 10.10.4
wrongful disposition, 13.6.2
FDCPA application, 13.5.1.2.2
force-placed insurance, 3.8.6
FTC Credit Practices Rule, application, 3.3.4.1
future advance clauses, see FUTURE ADVANCE CLAUSES
household goods as, see HOUSEHOLD GOODS
identification, 3.2.7
accidental omission, 3.2.7.3
automobiles, 3.8.2.1
financing statement, 3.2.7.2
general rule, 3.2.7.1
manufactured homes, 3.8.2.1
non-purchase-money interests, 3.3.7
notice of sale, 10.4.11.3
overinclusive, 3.3.4.5, 3.10.3
store credit card purchases, 3.9.3
TILA disclosure, 3.2.7.4
impairment, release of surety, 12.9.3.2.3, 12.9.3.4.2
improper disposition, 13.2
judicial sales, see JUDICIAL SALES
manufactured homes as, 3.8
ownership during repossession process, 9.3.3
owner’s signature, requirements, 3.2.6
personalty or realty, 2.2.4.5.1, 2.2.4.5.3
previously purchased items, 3.6, 3.7
reconditioning, see RECONDITIONING
recovery by creditor, see REPLEVIN ACTIONS
redemption, see REDEMPTION
refinancings, effect, 3.5
repossessed, see REPOSSESSED PROPERTY
retention by creditor, see STRICT FORECLOSURE
retention by debtor pending replevin trial, 5.4.4.2
revocation of acceptance, 4.4.2, 12.3.4
sale by creditor, see REPOSSESSION SALES
sale by debtor, see SALES BY DEBTOR
security interests, validity, 3.1, 3.2
seizure by creditor, see REPOSSESSIONS; SELF-HELP REPOSSESSIONS
signed security agreement, requirements, 3.2.1.1, 3.2.1.2
substitute or replacement property, 3.4.2
surrender, see VOLUNTARY SURRENDER OF COLLATERAL
transfers to third party
automatically perfected interests, 3.4.3.3
consent of creditor, 3.4.3.1, 6.2.1, 9.6.1, 9.6.3
generally, 3.4.3.1
perfected interests, 3.4.3.4
proceeds, secured party’s interest, 3.4.2
unperfected security interests, 3.4.3.2
trespass to chattels, 13.6.2.3
use by creditor, 10.3.2, 12.5.5
valuation, see VALUATION
value, see VALUE
voluntary surrender, see VOLUNTARY SURRENDER OF COLLATERAL
wholesale dispositions, see WHOLESALE DISPOSITIONS
wrongful repossessions, see WRONGFUL REPOSSESSION REMEDIES
COLLECTION ACTIONS
see ACTIONS ON THE DEBT
COLLECTION AGENTS
see DEBT COLLECTORS
COMMERCIAL COLLATERAL
see BUSINESS PURPOSE LOANS
COMMERCIAL REASONABLENESS
see also REPOSSESSION SALES
accommodation party rights, 12.9.5.1.2
advertisements, 10.8.5
auctions, 10.8.2
dealers only auctions, 10.7.2.1, 10.7.4
automobile sales, 9.6.3, 14.2.5
burden of proof, 10.2.5, 10.7.2.1, 12.6.1
Article 9 rules, 10.2.5.1
debtor’s affirmative suit, 10.2.5.3
deficiency situations, 10.2.5.2
choice of type of sale, 10.7.1
commercial convenience, distinguished, 9.6.3
creditor’s exercise of multiple remedies, 12.2.2.2.1
deficiency defense, 12.6.1
deficiency precondition, 12.6.2
definition, 10.2.2
deterioration of collateral, 10.3.1
evidence, 12.6.1.3
factors, 10.2.3
fundamental rule, 10.2.1
injunctive relief, 13.2.2
insider sales, 11.3.5.4
judicial sales, 9.5
leases of repossessed collateral, 10.1.2
lien sales, 15.12
low sale price, 10.9.1–10.9.3
notice of sale, necessary element, 10.4.1
private sales, 10.8.6, 10.8.8, 10.8.9
dealers only auctions, 10.7.2.1, 10.7.4
public versus private sale, 10.7.1
purchase by creditor, 10.10.2
question of law or fact, 10.2.6
recognized market, 10.7.4.2
reconditioning of collateral, 10.3.3
requirements, 10.8
research aids, 10.9.5.1
revised Article 9, 10.2.4, 10.2.5
sale price, 10.9
sale without appraisal, 10.8.8
timing of sales, 10.5.1, 10.5.2, 10.5.3
voluntary surrender, challenging after, 6.2.1
waiver prohibited, 10.2.4
wholesale dispositions, 10.7.1, 10.7.2–10.7.4, 10.9.6
COMMISSIONS
see SALES COMMISSIONS
COMMON LAW
see also CASE LAW
applicable doctrines, 2.3.4
bailment, see BAILMENTS
cosigners, application, 12.9.4
liens, 15.1, 15.2, 15.6.2
see also LIENS
pledges, 2.3.4.3
respondeat superior, 13.10.4.1
tort claims, see TORT CLAIMS
COMPLAINTS
see ACTIONS; PLEADINGS
COMPUTER SOFTWARE
credit math software, 1.1.5
electronic self-help deactivation, 6.6.5
CONDITIONAL SALES
see CREDIT SALES; PURCHASE-MONEY SECURITY INTERESTS
CONFLICT OF LAWS
state repossession laws, 2.4.2
UCC and state law, 2.3.2.2
CONSENT
see also WAIVERS
creditor defense to wrongful repossession, 13.10.1
electronic notices, 4.5.2.3.2
FTC agreements, see FTC CONSENT AGREEMENTS
liens, consent to services, 15.7
repossessions
contract provisions, 5.4.2.8
effect, 6.3.2, 13.10.1
refusal, effect, 6.2.4.2
when to object, 6.2.4.1
sale of collateral by debtor, 3.4.3.1, 9.6.1
creditor refusal, effect, 9.6.3
states prohibiting self-help repossessions, effect, 6.3.2
strict foreclosure, 9.4.3.2
voluntary surrender, see VOLUNTARY SURRENDER OF COLLATERAL
CONSEQUENTIAL DAMAGES
see also ACTUAL DAMAGES; DAMAGES
attorney fees as, 13.2.3.2
deficiency actions, defending, 13.2.3.2
wrongful repossession, 13.2.3.2
CONSIGNMENTS
goods for sale or return, 9.6.4
security interests, validity, 3.2.6, 9.6.4
UCC Article 9, application, 2.2.4.7
CONSOLIDATION OF DEBTS
see also REFINANCINGS
antecedent debt clauses, 3.6
bankruptcy lien avoidance, effect, 8.4.4
cross-collateral clauses, 3.7.3
FTC Credit Practices Rule, application, 3.5.3.2
future advance clauses, 3.6
purchase-money status after, 3.5.3
security interests, effect, 3.5
unconscionability, 3.7.3
CONSTABLES
see SHERIFFS
CONSTITUTIONAL ISSUES
see also CIVIL RIGHTS ACTIONS; DUE PROCESS
lien sales, 15.13
punitive damages awards, 13.6.11
self-help repossession, 6.3.6
debtor’s right to resist, 6.2.4.2
due process, 6.3.6, 13.7.1
state constitutions, 6.3.6.6
unreasonable search and seizure, 6.3.6.4
towing cases, 15.13.3
writ of replevin
due process, 5.4.1.2, 5.4.2.5, 5.4.2.6, 5.4.2.7
ex parte writs, 5.4.1.4, 5.4.2.3, 5.4.2.5, 5.4.2.6
generally, 5.4.1.1
hearings, 5.4.1.2, 5.4.2.7
remedies, 5.4.2.9.1
search and seizure, 5.4.1.3
state constitutions, 5.4.1.4
CONSTRUCTIVE REPOSSESSION
electronic disablement as, 6.6.2.2
CONSTRUCTIVE STRICT FORECLOSURE
see under STRICT FORECLOSURE
CONSUMER CREDIT AGREEMENTS
see SECURITY AGREEMENTS
CONSUMER CREDIT CODE
see UNIFORM CONSUMER CREDIT CODE (UCCC)
CONSUMER CREDIT STATUTES (STATE)
see also RETAIL INSTALLMENT SALES ACTS (RISA)
acceleration restrictions, 4.2.2.3
choice of law, 2.4.4
collateral description, 3.2.7.1
default restrictions, 4.2.7
electronic disabling devices, application, 6.6.4.6
federal preemption, 2.3.2.3
overview, 2.3.2.1
remedies, 13.5.4
research aids, 1.2.2
RTO transactions, application, 14.3.3, 14.3.5.4
scope, 2.3.2.3
UCC interrelation, 2.3.2.2, 13.5.4
violations
as per se UDAP violation, 13.5.4
attorney fees, 13.11.6
CONSUMER DEFENSES
see also COUNTERCLAIMS
attorney fees when successful, 13.11.6
bankruptcy as, see BANKRUPTCY
bankruptcy stay, relief proceedings, raising, 8.2.7.7
debt obligation extinguished, 4.4.1, 12.3
deficiency actions
absolute bar, 12.6.2
accommodation parties, 12.9
anti-deficiency laws, 12.4, 13.2.7.4
commercially unreasonable sale, 12.6.1
constructive strict foreclosure, 12.3.3, 12.5.2, 12.5.3
cosigner defenses, 12.9
debt extinguished, 4.4.1, 12.3, 12.5.9
defective disposition, 12.6
elements not proved, 12.8.4
estoppel, 12.3.3, 12.5.9.2
FDIC actions, 12.10
improper disposition, 12.6
improper notice, 12.8.2
procedural defenses, 12.8
rebuttable presumption, 12.6.3, 12.9.5.1.2
RTC actions, 12.10
sample answer, Appx. D.1, Appx. D.2
set-off, 12.6.4
strict foreclosure, 12.5.1
timing limitations, 12.7
UCC damages, 13.2.7
UCC noncompliance, 12.6.5
waiver, 12.3.3, 12.5.9.3
wrongful use of collateral, 12.5.5
inadequate performance, 4.4.4
leases, 14.2.11
statute of limitations, 14.2.11.1
unreasonable charges, 14.2.10
relationship to default, 4.4
replevin actions, 5.4.3.6, 5.5.1, 5.5.2.1
revocation of acceptance, 4.4.2
right to cure, see RIGHT TO CURE
sample pleadings, Appx. D
seller’s breach of contract, 4.4.3
statutory liens, 15.1
TILA rescission, 13.5.3
usurious credit, 4.4.1
voidable debt obligation, 4.4.1
guarantors, 12.9.4.3
CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)
see also FEDERAL BANKING REGULATORS
arbitration clauses, limits on, 13.11.3.2.3
model disclosure forms, 3.2.7.4
CONSUMER GOODS
see also COLLATERAL; HOUSEHOLD GOODS
after-acquired, security interests, 3.3.7.2, 3.4.6, 3.8.4
anti-deficiency statutes, application, 12.4.4
antiques, see ANTIQUES
automobiles, status as, 3.8.7.5
collateral identification, 3.3.7
debtor’s property distinguished, 3.3.7.4
defined, 2.2.5.1, 3.4.6, 12.4.4
entertainment systems, see ELECTRONIC ENTERTAINMENT EQUIPMENT
jewelry, see JEWELRY
statutory damages, 13.2.4.5
transactions, revised Article 9 definition, 2.2.5.1
works of art, see WORKS OF ART
CONSUMER LEASES
see PERSONAL PROPERTY LEASES
CONSUMER LEASING ACT (CLA)
see also TRUTH IN LENDING ACT (TILA)
default or early termination penalties
improper disclosure, 14.2.7.2
unreasonable, 14.2.10.2
overview, 2.3.3.3
research aids, 2.3.3.3
RTO, application, 14.3.4
automobile transactions, 14.2.1.4
scope, 14.1.3.2
state law relationship, 14.2.10.4
CONSUMER LOANS
see LOANS
CONSUMER REMEDIES
see REMEDIES; WRONGFUL REPOSSESSION REMEDIES
CONSUMER TRANSACTIONS
see also CREDIT TRANSACTIONS
consumer-goods transactions distinguished, 2.2.5.1
revised Article 9 definition, 2.2.5.1
CONSUMERS
see DEBTORS
CONTINGENCY CLAUSES
see also YO-YO TRANSACTIONS
condition subsequent versus condition precedent, 4.6.2.5
nominal condition precedent transactions, 4.6.2.6
conditions allowing cancellation must occur, 4.6.2.4
riders, 4.6.2.3
validity, 4.6.2.3
written requirement, 4.6.2.2
CONTRACTS
see AGREEMENTS; BREACH OF CONTRACT; SECURITY AGREEMENTS
CONVERSION ACTIONS
see also TORT CLAIMS
actual damages, 13.6.10
attorney fees and costs, 13.6.1
bailments, 2.3.4.2.4
collateral
use by creditor, 10.3.2, 12.2.2.2.2
wrongful disposition, 5.5.3, 13.6.2
creditor defenses, 13.6.2.2
elements of conversion, 13.6.2.1
lien claimants, against, 15.14.1
military personnel, 6.3.5.1.6
potential causes of action, 13.6.2
punitive damages, 13.6.11
redemption tender, refusal, 9.3.8
reinstatement procedures, failure to comply, 9.2.4
replevin action, relationship, 5.2.6
sample complaint, Appx. D.4
strict foreclosure, improper, 9.4.2, 9.4.4
trade-in, wrongful retention, 4.6.4
unsecured property taken with collateral, 7.4.1.1, 7.4.1.3
compensatory damages, 7.4.1.5
wrongful replevin, 5.5.2.3
wrongful repossession, 13.6.2
CONVEYANCES
see FRAUDULENT CONVEYANCES; THIRD PARTY TRANSFERS
COSIGNERS
see ACCOMMODATION PARTIES
COSTS
see ATTORNEY FEES AND COSTS; EXPENSES
COUNTERCLAIMS
see also SET-OFFS; WRONGFUL REPOSSESSION REMEDIES
accommodation parties, UDAP violations, 12.9.6.1
bankruptcy stay, relief proceedings, raising, 8.2.7.7
credit-related claims, 13.9.1
debt collection abuse, 13.9.1
default relationship, 4.4.5
deficiency actions
attorney fees, 11.3.6.4.4
raising, 13.1, 13.9.1
sample counterclaim, Appx. D.1, Appx. D.2
FDCPA, 13.5.1
leases, collection actions, 14.2.11.3
replevin hearings, raising at, 4.4.5, 5.4.3.6, 5.5.2.2
sales-related claims, 13.9
TILA, 2.3.3.3, 13.5.3
UCC damages, 13.2
UDAP, 13.4
wrongful repossession, 13.9
COURT CLERKS
writ of replevin, ex parte hearings before, 5.4.2.6
CRAMDOWN
see also BANKRUPTCY
bankruptcy cramdown, 8.6.2
CREDIT AGREEMENTS
see SECURITY AGREEMENTS
CREDIT APPLICATIONS
falsification, default grounds, 4.6.3.3
CREDIT CARD PURCHASES
see also PURCHASE-MONEY SECURITY INTERESTS
bankruptcy filings, 8.8.2
cross-collateral clauses, 8.8.2.1
debts from, UCC application, 2.2.5.3
FTC Credit Practices Rule, application, 3.9.1
security interest of card issuer
collateral description, adequacy, 3.9.3
deposit accounts by banks, 2.2.4.3.2
false enforcement threats, 3.9.6
generally, 3.9.1
ignoring, 8.8.2.3
lender abuses, 8.8.2.2
merchant card issuers, 3.9
payment allocations, 3.9.4
reaffirmation agreements, 8.8.2
security agreement, validity, 3.9.2
state law prohibitions, 3.9.5
store credit cards, see STORE CREDIT CARDS
CREDIT INSURANCE
canceling following repossession, 11.3.3.3
creditor’s obligation prior to repossession, 4.2.1, 6.5.3
overview, 11.3.3.1
property, see CREDIT PROPERTY INSURANCE
rebates, see INSURANCE REBATES
CREDIT PRACTICES RULE (FTC)
see FTC CREDIT PRACTICES RULE
CREDIT PROPERTY INSURANCE
see also CREDIT INSURANCE
canceling following repossession, 11.3.3.3
effect on redemption rights, 9.3.6.1
household goods, 3.3.2, 3.3.6
invalid collateral, consequences, 3.10.1
overview, 11.3.3.1
rebates, see INSURANCE REBATES
unconscionability, 3.3.6
CREDIT RECORDS
disputing, stopped payments, 4.4.3.6
false information, 13.6.7
settlement considerations, 13.11.5
voluntary surrender of collateral, effect, 6.2.1
wrongful repossessions
actual damages, 13.2.3.2
tort claims, 13.6.7
CREDIT REPAIR LAWS
electronic disabling devices, application, 6.6.4.7
CREDIT REPORTS
see CREDIT RECORDS
CREDIT SALES
see also CREDIT TRANSACTIONS; PURCHASE-MONEY SECURITY INTERESTS
anti-deficiency statutes, application, 12.4.2
breach of contract, withholding payments, 4.4.3.5
CLA, application, 14.1.3.2
counterclaims, 13.9
credit card, see CREDIT CARD PURCHASES
home improvement, see HOME IMPROVEMENT CREDIT SALES
inadequate performance, 4.4.4
installment sales acts, application, 2.3.2.1
leases, disguised as, 14.1.1
referral loans, treatment as, 4.4.3.5
revocation of acceptance, 4.4.2
RTO transactions, status, 14.3.1
security interest creation, 2.2.4.2
unearned interest rebates, application, 11.3.2.2.1
yo-yo sales, see YO-YO TRANSACTIONS
CREDIT SERVICE CHARGE
see FINANCE CHARGES
CREDIT STATUTES
see CONSUMER CREDIT STATUTES (STATE)
CREDIT TRANSACTIONS
see also CONSUMER TRANSACTIONS
credit sales, see CREDIT SALES
loans, see LOANS
state law, 2.3.2
UCC Article 9, application, 2.2.4.2
UDAP, application, 13.4.2.3
CREDIT UNIONS
see FEDERAL LENDING INSTITUTIONS
CREDITOR DEFENSES
see also CREDITORS
breach of the peace after repossession, 6.4.5
debtor’s consent, 13.10.1
debtor’s contractual waiver, 13.10.2, 13.10.3
improper notice of sale, to, 10.4.1
repossession company violations, 13.10.4
unconstitutional process, 5.4.2.9.1
wrongful repossession, 13.10
CREDITORS
agreement not to repossess, 6.5.3
bankruptcy filing by debtor
adequate protection, 8.2.7.4, 8.6.2.2
allowed secured claims, 8.6.1, 8.6.2.3, 8.6.2.4
compliance with stay, 8.2.6.1
cramdown, 8.6.2
modification of rights, 8.6.2
reaffirmation abuses, 8.8.2.2
relief from stay, 8.2.7
stay of proceedings, 8.2.4
store credit cards, 8.8.2
certificate of title
evidencing on, 3.8.2.1
retention of certificate, 3.8.2.2
churning schemes, 10.10.5
collateral impairment, 12.9.3.2.3, 12.9.3.4.2
collateral retention, see STRICT FORECLOSURE
consumers as, 8.11
credit insurance obligations, 4.2.1, 6.5.3
debt collection statutes, application, 2.3.3.6
defenses, see CREDITOR DEFENSES
deficiency actions, see DEFICIENCY ACTIONS
deficiency or surplus
determination, 11.3.1
explanation of calculations, 11.2
obligations, 11.1.2
rights, 12.2
description in notice of sale, 10.4.11.2
disposal of collateral, obligations, 10.1.1
duties toward collateral, 10.3
election of remedy, 12.4.8
electronic repossessions, see ELECTRONIC REPOSSESSIONS
expenses, see EXPENSES
FDCPA, application, 2.3.3.5, 13.5.1.2.1, 13.5.1.3.1
FTC Credit Practices Rule
attempts to evade, 3.3.4.4
scope, 3.3.4.3
good faith duty
acceleration, 4.2.2.2, 4.2.3
private sales, 10.8.9
sureties, towards, 12.9.5.2
UCC duty, 2.3.1.2, 4.2.2.2, 4.2.3
government as creditor, 6.3.6.2, 13.7.1
hypothetical lien creditor, trustee in bankruptcy, 8.4.6.2
inadequate performance, effect, 4.4.4
insecure, acceleration, 4.2.2
insider status, 11.3.5.3
liability for acts of repossessor, 7.4.1.6, 13.10.4
out-of-state, 13.11.1
ownership of debt obligation, 12.8.1, 14.2.11.2
possessory security interests, 3.2.1.2.1
promise to accept collateral in satisfaction, 12.3.3
purchase of collateral
see also INSIDER SALES
constructive strict foreclosure, 12.5.4
low price, 10.10.3
private sales, at, 10.10.1, 11.3.5.1, 12.5.4
public sales, at, 10.10.2
replevin, see REPLEVIN
repossession of collateral, see REPOSSESSIONS
reservation of rights, 12.9.3.2.5, 12.9.3.4.3
retail installment sellers, see RETAIL INSTALLMENT SELLERS
retention of collateral, see STRICT FORECLOSURE
revolving repossession schemes, 10.10.5
right to cure
notice requirements, 4.5.2
violations, 4.5.2.4
voluntary grant, 4.5.4
risks, duty to reveal to guarantor, 12.9.4.3, 12.9.6
sale of collateral, see REPOSSESSION SALES
security interest, intention to create, 2.2.4.2
seller-related claims, liability, 4.4.3.5, 13.9.2
store credit cards, 8.8.2
transfers of collateral, authorization, 3.4.3.1, 9.6.1, 9.6.3
unfair remedies, 13.4.3.3
unsecured property seized, liability disclaimers, 7.5, 13.10.3
waiver of right to declare default, 4.3
wrongful repossessions, see WRONGFUL REPOSSESSION REMEDIES
CRIMINAL PROSECUTION
debtors resisting repossession, 6.2.4.2
repossession violations, 6.5.5, 13.5.6
CROSS-COLLATERAL CLAUSES
see also AFTER-ACQUIRED PROPERTY; FUTURE ADVANCE CLAUSES
bankruptcy lien avoidance, application, 8.4.4
bankruptcy and store credit cards, 8.8.2.1
credit sales, 3.7.2
debt consolidations, 3.7.3
generally, 3.7.2
CURE
see RIGHT TO CURE
CUSTODIANS
see also SHERIFFS
bankruptcy, turnover of repossessed property, 8.3.1
DAMAGE
automobile leases, loss of vehicle, 14.2.9.6
collateral prior to repossession, 12.4.6
repossessed collateral
discharge of surety, 12.9.3.4.2
improper disposition, 10.1.2
liability, 10.3.1, 10.3.2
lienholders, by, 15.14.4
tort claim, 13.6.2
unsecured property seized, 7.3.2, 7.4.1.2, 7.4.1.4
DAMAGES
see also ATTORNEY FEES AND COSTS; REMEDIES
actual, see ACTUAL DAMAGES
automobile leases, default, 14.2.5, 14.2.10
bankruptcy stay violations, 8.2.6.1, 8.2.6.2
breach of contract, deduction from payments, 4.4.3
CLA violations, 14.1.3.2, 14.2.7.2, 14.2.10.2
consequential, see CONSEQUENTIAL DAMAGES
constitutional remedies, 13.7.2
emotional distress, 13.2.3.2
FDCPA violations, 2.3.3.5
invalid security interests, 3.10
lien claimants, conversion, 15.14.1
liquidated, see LIQUIDATED DAMAGES
mitigation, reasonable diligence, 14.2.5, 14.2.8.5.2
punitive, see PUNITIVE DAMAGES
redemption tender, refusal, 9.3.8
replevin actions
depreciation or loss of use, 5.2.5
incidental damages, 5.2.5
ex parte seizures, 5.4.2.9.1, 5.4.2.9.2
repossession sales
improper notice, 10.4.11.2, 10.4.12
surplus or deficiency, failure to explain, 11.2.3
self-help repossessions, due process violations, 6.3.6.5
statutory, see STATUTORY DAMAGES
strict foreclosure, improper, 9.4.2
surpluses
failure to pay, 11.1.2.3
failure to provide explanation, 11.2.3
TILA disclosure violations, 3.2.7.4
tort claims, 13.6.10, 13.6.11
UCC violations, 13.2
unsecured property seized with collateral, 7.4
compensatory damages, 7.4.1.5
punitive damages, 7.4.1.7
wrongful replevin, 5.5.2.3
wrongful repossessions, 13.2.3–13.2.7, 13.6.10–13.6.11
yo-yo sales, failed transactions, 4.6.4
DEALERS
auctions, dealers only, see DEALERS ONLY AUCTIONS
automobile leases, see AUTOMOBILE LEASES
“buy-here, pay-here” dealers, 6.6.3
churning schemes, 10.10.5
consignment sales, insolvency, effect, 9.6.4
FTC consent agreements, 10.7.2.1, 11.1.2.2
insider status, 11.3.5.2, 11.3.5.3
related claims and defenses, raising against
creditors, 13.9.2
lessors, 14.2.11.3
repossession sales, 10.7.2.1, 10.10.4
repurchase agreements, see REPURCHASE AGREEMENTS
revolving repossessions, 10.10.5
used car disposal, reasonable practices, 10.7.4.3
yo-yo sales, 4.6
DEALERS ONLY AUCTIONS
see also AUCTIONS; PRIVATE SALES; REPOSSESSION SALES
challenging, 10.7.4.4
commercial reasonableness, 10.7.2.1, 10.7.4, 10.8.2
industry practice, 10.7.4.3
notice requirements, 10.4.5.3, 10.6.3
private sale status, 10.6.3, 10.7.4.1
recognized market status, 10.4.5.3, 10.7.4.2
sample supplemental interrogatories, Appx. E.3
DEBT CANCELLATION AGREEMENTS
see GAP INSURANCE
DEBT COLLECTORS
see also PROFESSIONAL REPOSSESSORS
abuses by
bodily force, 6.4.2
counterclaims, 13.9.1
remedies, 6.5.1
threats, 6.4.3
bankruptcy stay, 8.2.4.3
compliance, liability, 8.2.6.1
FDCPA application, 2.3.3.5, 6.5.1, 13.5.1
FDCPA definition, 13.5.1.2.1
repossession companies, status as, 13.5.1.3.1
state law, 2.3.3.6, 13.5.2
UDAP violations, 13.4.3
DEBT CONSOLIDATION
see CONSOLIDATION OF DEBTS
DEBT OBLIGATION
see also PROMISSORY NOTES; SECURITY AGREEMENTS
acceleration, see ACCELERATION
accord and satisfaction, 12.3.3, 12.5.9.4
account, revised Article 9 definition, 2.2.5.3
actions, see ACTIONS ON THE DEBT; DEFICIENCY ACTIONS
balance due, calculating
acceleration interest and penalties, 11.3.2.3
credits for insurance claims, 11.3.2.5
force-placed insurance premiums, 11.3.2.4
remainder before acceleration, 11.3.2.1
unearned interest rebates, 11.3.2.2
consolidation, see CONSOLIDATION OF DEBTS
default, see DEFAULT
disputed debts, 4.4.3.6
extension or deferral, release of surety, 12.9.3.2.1, 12.9.3.4.1, 12.9.3.4.3
extinguishment
defense to deficiency action, 12.3
discharge of guarantor under common law, 12.9.4.2
relationship to default, 4.4.1, 4.4.2.1
revocation of acceptance, 4.4.2.1, 12.3.4
security interest, effect, 3.4.5, 4.4.1
repurchase agreements, 10.10.4
right to enforce, 12.8.1
stopping payments, consequences, 4.4.3.6
void versus voidable, 4.4.1
DEBTORS
accommodation parties
see also ACCOMMODATION PARTIES
recourse by, 12.9.7
status as, 12.9.5.1.1
account debtor, revised Article 9 definition, 2.2.5.3
affirmative remedies, see WRONGFUL REPOSSESSION REMEDIES
bankruptcy, see BANKRUPTCY
codebtors, bankruptcy stay, 8.2.2.2
collateral, see COLLATERAL
consent to repossession, 13.10.1
consent to strict foreclosure, 9.4.3.2
counseling, see CREDIT COUNSELING SERVICES
debt obligation, see DEBT OBLIGATION
default, see DEFAULT
deficiency liability, see DEFICIENCY ACTIONS
defined, 2.2.5.2, 9.3.4, 10.4.6.1, 12.9.5.1, 13.2.4.4
FTC Credit Practices Rule, application, 3.3.4.3
notice of repossession sale
description of debtor, 10.4.11.2
receipt, 10.4.6
waiver, 10.4.7.1
obligor distinguished, 2.2.5.2
property distinguished from other household members, 3.3.7.4
replevin of wrongfully seized property, 13.6.12
resisting or hindering repossession
civil liability, 6.2.4.3
criminal prosecution, 6.2.4.2
security interest given, validity, 3.2.3, 3.2.6
self-help repossessions, protected, 6.3.5
statement of account
notice of entitlement, 10.4.11.5
redemption amount, 9.3.6.2
surplus rights, see SURPLUSES
UCC remedies for wrongful repossessions, 13.2.4.4
unsecured property, removal from foreclosed collateral, 7.3.1
DEBTS
see DEBT OBLIGATION
DECEPTION
see FRAUD; UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
DECEPTIVE PRACTICES
see UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
DEFAMATION
tort actions, 13.6.7
DEFAULT
see also ACCELERATION
acceleration, relationship, 4.1.3
agreement determines, 4.1.2
analyzing a repossession case, 1.4.5
assigned debts, 4.1.2, 4.2.1
automobile leases
consumer liability, 14.2.6–14.2.11
right to repossess, 14.2.2
statute of limitations, 14.2.11.1
bankruptcy cure, 8.6.3
CLA provisions, 14.1.3.2
credit insurance, creditor’s obligation, 4.2.1
date of default, determination, 12.7
defenses or counterclaims
effect of counterclaims, 4.4.5
inadequate performance, 4.4.4
obligation extinguished, 4.4.1, 12.3
revocation of acceptance, 4.4.2
seller’s breach of contract, 4.4.3
definition, 4.1.2
electronic repossessions following, 6.6.2.4.1
factual determination, 4.1.2
grace periods, 4.2.1
grounds
acceleration, 4.1.4, 4.1.5, 4.2
false credit application, 4.6.3.3
non-payment, 4.2.1, 4.3.1, 4.4.3
state limits, 4.2.7
yo-yo sales, 4.6.3.2
manufactured home first mortgage loans, 4.5.3
precondition to repossession, 4.1.1, 4.1.2
redemption rights, see REDEMPTION
reinstatement after, see REINSTATEMENT
repossession, see REPOSSESSIONS
restrictions on declaring, 4.2, 4.3, 4.4
right to cure, see RIGHT TO CURE
significant impairment, 4.2.7
UCC Article 9 basics, 2.2.2
remedies, availability, 13.2.4.4
waiver by creditor, 4.3
acceptance of breach, 4.3.2
anti-waiver provisions, 4.3.4
late payment acceptance, 4.3.1
oral representations, 4.3.3
yo-yo sales, 4.6.3.2, 4.6.3.3
DEFAULT JUDGMENTS
military personnel, against, 6.3.5.1.4
DEFENSES
see also COUNTERCLAIMS
consumer, see CONSUMER DEFENSES
cosigners, 12.9
creditor, see CREDITOR DEFENSES
DEFICIENCY ACTIONS
accommodation parties
defenses, see under ACCOMMODATION PARTIES
rights, 2.3.1.3, 12.9.5.1.2
action on the debt, simultaneous, 12.2.2
analyzing a repossession case, 1.4.10
anti-deficiency statutes, see ANTI-DEFICIENCY STATUTES
automobile title loans, 3.8.7.7
bankruptcy stay, 8.2.4.1
bars to
absolute bar approach, 12.6.2
analyzing the case, 1.4.10
anti-deficiency statutes, 12.4
commercially unreasonable sales, 10.2.5.2, 12.6.1
constructive strict foreclosure, 12.2.2.2.1, 12.3.3, 12.5
creditor conduct, 12.5
creditor waiver, 12.3.3, 12.5.9.3
debt extinguished, 12.3, 12.5.9
defective disposition, 12.6
estoppel, 12.3.3, 12.5.9.2
improper notice of sale, 10.4.12
improper notice under state law, 12.8.2
non-ownership of obligation, 12.8.1
rebuttable presumption theory, 12.6.3, 12.9.5.1.2
redemption rights, denial, 9.3.5, 9.3.8
reinstatement procedures, noncompliance, 9.2.2
revocation of acceptance, 12.3.4
sale not taken place, 12.2.2.2.3
set-off theory, 12.6.4
statute of limitations, 12.7
strict foreclosure, 9.4.1, 9.4.4, 12.5.1
successful, statutory damages, 13.2.7
tribal law, 12.6.7
UCC violations, 12.5.8, 12.6
burden of proof
accommodation party defenses, 12.9.3.3
commercially reasonable sale, 10.2.5, 12.6.1
deficiency, 12.6.1.4, 12.6.3
elements by creditor, 12.8.4
notice preconditions, 12.8.2
public or private sale, 10.4.11.4
set-offs, 12.6.4
calculating deficiency, see CALCULATION OF DEFICIENCY OR SURPLUS
commercial reasonableness of sale, see COMMERCIAL REASONABLENESS
counterclaims, see COUNTERCLAIMS
creditor’s rights, 12.2.1
defending
approaches, 12.1.2
attorney fees, 13.2.3.2, 13.11.6
class actions, 13.2.6.1
importance, 12.1.1
sample pleadings, Appx. D
UCC damages, requesting, 13.2.7.5
defenses, see under CONSUMER DEFENSES
elements to be proved, 12.8.4
explanation of computations, 11.2
failure to provide, 11.2.3, 12.6.6
liability
generally, 11.1.1
notice, 10.4.11.7
lienholders, 15.12
plaintiff, correct party, 12.8.1
prior to sale, 12.2.2.2.3
sample answer and counterclaim, Appx. D.1
additional counterclaims and defenses, Appx. D.2
state restrictions
see also ANTI-DEFICIENCY STATUTES
effect on voluntary surrender of collateral, 6.2.1
special notice requirements, 12.8.2
special procedural requirements, 12.8.3
state-by-state survey, 12.6.5
statute of limitations, 12.7
unfair or deceptive practices, 13.4.3.1
yo-yo sale repossessions, 4.6.3.5
DEFINITIONS
accessions, 3.8.4
accommodation party, 12.9.1.1, 12.9.2, 12.9.6.1
accord and satisfaction, 12.3.3
account, 2.2.4.8.1, 2.2.5.3
account debtor, 2.2.5.3
adequate protection, 8.2.7.4
antiques, 3.3.4.2.2
authenticate, 3.2.3.2, 9.4.3.2.2, 10.4.7.1
breach of the peace, 6.4.1
chattel paper, 2.2.5.3
commercial reasonableness, 10.2.2
consumer, 3.3.4.3
consumer goods, 3.4.6, 12.4.4
consumer-goods transaction, 2.2.5.1
consumer transaction, 2.2.5.1
cosigner, 12.9.1.1, 12.9.6.1
debt collector, 13.5.1.2.1
debtor, 2.2.5.2, 9.3.4, 10.4.6.1, 12.9.5.1, 13.2.4.4
default, 4.1.2
fixture, 5.3.2
general intangible, 2.2.5.3
good faith, 2.3.1.2, 4.2.2.2, 4.2.3, 10.8.9
household goods, 3.3.4.2
instrument, 2.2.5.3
insurance proceeds, 3.8.5
judicial lien, 8.4.5
lease, 14.1.3.1
military service, 6.3.5.1.2
modify, 8.6.2.1
obligor, 2.2.5.2, 13.2.4.4
party related to secured party, 11.3.5.2
payment intangible, 2.2.5.3
personal effects, 3.3.4.2.1
proceeds, 3.4.2
public sale, 10.6.2
purchase-money security interest, 3.3.3.1, 8.7.3.2.2
realized value, 14.2.8.5.1
recognized market, 10.4.5.3, 10.7.4.2
retail installment seller, 3.3.4.3
secondary obligor, 2.2.5.2, 11.3.5.2
security interest, 2.2.4.1, 4.4.2.2.1, 8.4.6.1, 14.1.2, 14.3.2.2
send, 10.4.3, 10.4.4.1
signed, 3.2.3.2
significant impairment, 4.2.7
stripdown, 8.7.1
stripoff, 8.7.1
time price differential, 13.2.4.6
unfair practice, 13.4.3.3
value, 3.2.5, 8.4.6.4
waiver, 12.3.3, 12.5.9.3
DELIVERY
see REPLEVIN ACTIONS
DEPARTMENT OF MOTOR VEHICLES (DMV)
clear title, obtaining from, 4.4.2.2.1
DEPENDENTS
military personnel, special protections, 6.3.5.1.3
DEPOSIT ACCOUNTS
pledges, 2.3.4.3
security interests, 2.2.4.3.2, 2.3.4.3
revised Article 9, application, 2.2.4.3.2
security agreement, necessity, 3.2.1.2.2
TILA, application, 2.2.4.3.2
DEPOSITORY INSTITUTIONS DEREGULATION AND MONETARY CONTROL ACT (DIDA)
right to cure incentives, 4.5.3.1
DESCRIPTION OF COLLATERAL
see COLLATERAL, identification
DETINUE
see REPLEVIN ACTIONS
DISABLEMENT
see ELECTRONIC REPOSSESSION
DISCLAIMERS
see WAIVERS
DISCLOSURE
bankruptcy, reaffirmation agreements, 8.8.1
consumer leases, default liability, 14.2.7.2
cosigner risks, 12.9.4.3, 12.9.6
redemption amount, 9.3.6.2
TILA, see DISCLOSURES (TILA)
DISCLOSURES (TILA)
see also TRUTH IN LENDING ACT (TILA)
electronic disabling devices, 6.6.4.4
security interest grant, as, 3.2.2.3
security interests
future advance clauses, 3.6.5
overinclusive, 3.3.4.5, 3.10.3
refinancings, 3.5.2.2
requirements, 3.2.7.4
invalid interests, 3.10.3
DISCOVERY
assigned security interests, requests, 3.4.4
automobile repossession, Appx. E
sample document request, Appx. E.2
sample first set interrogatories, Appx. E.1
sample request for admissions, Appx. E.5
sample second document request, Appx. E.4
sample supplemental interrogatories, Appx. E.3
bankruptcy stay
motion for relief, 8.2.7.6
valuation of collateral, 8.2.7.9
replevin hearings, 5.4.3.2
repossession sales
determination of type, 10.6.2
related parties, between, 10.10.4.2
repossession sales, commercial reasonableness
dealers only auctions, 10.7.4.3, 10.7.4.4
generally, 10.2.3
reconditioning of collateral, 10.3.3
timing of sale, 10.5.1
repurchase agreements, 10.10.4.1, 10.10.4.2
sample materials, 13.11.2, Appx. E
DISCRIMINATION
ECOA restrictions, 4.2.4
electronic disabling devices, 6.6.4.5
DISPOSITION OF COLLATERAL
see LIEN SALES; REPOSSESSION SALES
DOCUMENT PRODUCTION
see DISCOVERY
D’OENCH, DUHME DOCTRINE
deficiency defenses, 12.10
DRAGNET CLAUSES
see FUTURE ADVANCE CLAUSES
DUAL INSURANCE
see CREDIT INSURANCE
DUE PROCESS
see also CIVIL RIGHTS ACTIONS; CONSTITUTIONAL ISSUES
lien sales, 15.13.2, 15.14.5
post-deprivation remedies, 6.3.6.3
replevin procedures
ex parte writs, 5.1, 5.4.1.4, 5.4.2.5, 5.4.2.6
post-seizure hearings, 5.4.2.7
violations, 5.4.1.2
self-help repossessions, 6.3.6
government as creditor, 6.3.6.2, 13.7.1
government assistance, 6.3.6.3
right to resist, 6.2.4.2
sample complaint, Appx. D.4
state action, 6.3.6.1–6.3.6.3, 6.4.7
state constitutions, 6.3.6.6
violations, private remedies, 6.3.6.5
towing cases, 15.13.3
violations
remedies, see CIVIL RIGHTS ACTIONS
state action requirement, 13.7.1
EARLY TERMINATION CHARGES
actual method used, 14.2.7
adjusted lease balance basis, 14.2.6.4
capitalized cost manipulation, 14.2.9.1
CLA restrictions, 14.2.10.2
computation, 14.2.6, 14.2.8
credit for realized value, 14.2.8.9
credit for security deposit, 14.2.9.7
depreciation difference, 14.2.6.3, 14.2.6.4
deviation from required method, 14.2.7
disclosure in lease, 14.2.7.2
excess use and wear, 14.2.8.7
excessive residual values, 14.2.8
extra penalties, 14.2.9.3
improper computation, remedies, 14.2.7.2
inadequate realized value, 14.2.8
key terms, 14.2.6.2
legal standards, 14.2.10
liquidated damages, 14.2.5, 14.2.7.2, 14.2.10.1
loss of vehicle, 14.2.9.6
military personnel, 14.2.9.5
minimizing, 14.2.8.5
other charges, 14.2.9
remaining lease payments basis, 14.2.6.5
selling expenses, 14.2.8.8
state law, 14.2.10.3
statute of limitations, 14.2.11.1
taxes, 14.2.9.4
UCC Article 2A, 14.2.10.1
unconscionability, 14.2.10.1
understanding, 14.2.6
unearned charges rebate, 14.2.9.2
unreasonable, 14.2.10
ELECTION-OF-REMEDY STATUTES
see ANTI-DEFICIENCY STATUTES
ELECTRONIC DOCUMENTS
explanation of surplus or deficiency, 11.2.2
notice of right to redeem, 9.3.5
notice of right to reinstate, 9.2.2
notice of sale, 10.4.3, 10.4.4.2
waiver of notice, 10.4.7.1
notice of right to cure, 4.5.2.3
coverage, 4.5.2.3.1
E-Sign, 4.5.2.3.2
UETA, 4.5.2.3.3
security agreements, 3.2.2.1
electronic signatures, 3.2.3.2
ELECTRONIC ENTERTAINMENT EQUIPMENT
see also CONSUMER GOODS
collateral identification, 3.3.7.2, 3.3.7.3, 3.3.7.4
FTC Credit Practices Rule, application, 3.3.4.2.2
ELECTRONIC REPOSSESSIONS
allowed circumstances, 6.6.2.1, 6.6.2.2, 6.6.2.3.2
annoying devices, 6.6.1, 6.6.4.1
bankruptcy situations, 6.6.2.3.3
bars, 6.6.2.3.2
breach of the peace, 6.6.2.3.1
“buy-here, pay-here” dealers, 6.6.1, 6.6.3
care of disabled vehicle, 6.6.2.2
computer software, 6.6.5
constructive repossession, 6.6.2.2
consumer remedies, 6.6.2.4.2
credit discrimination issues, 6.6.4.5
credit repair laws, 6.6.4.7
creditor’s duties after, 6.6.2.2, 6.6.2.6
dangerous devices, 6.6.1, 6.6.2.5, 6.6.2.3.1
deception and nondisclosure, 6.6.4.2
default, absence of, effect, 6.6.2.4.1
disablement devices, 6.6.1
ECOA, application, 6.6.4.5
FDCPA violations, 6.6.2.2, 6.6.2.4.2, 6.6.4.1
limits on, 6.6.2.3, 6.6.2.4
military servicemembers, 6.6.2.3.2
Native American laws, 6.6.2.3.2
nature of, 6.6.1
privacy concerns, 6.6.4.8
removal of disabling device, 6.6.2.5
right to cure, effect, 6.6.2.4.1
RISA violations, 6.6.4.6
state credit statutes, 6.6.4.6
state regulation, 6.6.2.3.2, 6.6.3
TILA violations, 6.6.4.4
tracking devices, 6.6.1, 6.6.4.8
UCC Article 9, application, 6.6.2.1, 6.6.2.2, 6.6.2.4.2
UDAP violations, 6.6.4.2, 6.6.4.3
wrongful disablement, 6.6.2.4.2
ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT (E-SIGN)
notice of sale, application, 10.4.4.2
right to cure notices
application, 4.5.2.3.1
requirements, 4.5.2.3.2
UCC Article 9, preemption, 4.5.2.3.1, 10.4.4.2
UETA, preemption, 4.5.2.3.3
EMOTIONAL DISTRESS
infliction of, 13.6.6
EMPLOYERS
liability for actions of employee, 7.4.1.6, 13.10.4
RTO transactions, 14.3.7
ENTRY
bailor’s rights, 2.3.4.2.3
repossessor, by
consent, 6.2.4.1
manufactured homes, 6.3.3
place of business or employment, 6.4.6.4
private driveway or garage, 6.4.6.2
residence, 6.4.6.3
EQUAL CREDIT OPPORTUNITY ACT (ECOA)
acceleration restrictions, 4.2.4
electronic disabling devices, application, 6.6.4.5
EQUITABLE RELIEF
estoppel, see ESTOPPEL
injunctions, see INJUNCTIVE RELIEF
ERRORS
see MISTAKES
ESTOPPEL
acceleration, 4.3.1.3, 4.3.2, 4.3.3
common law doctrine, 12.5.9.2
deficiency defense, 12.3.3, 12.5.9.2
elements of, 12.5.9.2
late payment acceptance, 4.3.1.3
oral representations, 4.3.3
EVICTIONS
manufactured homes, 5.3.1, 6.3.3
tenant’s property, storage lien, 15.7.4
EVIDENCE
see also BURDEN OF PROOF
accommodation party status, 12.9.2.3
collateral value
bankruptcy valuation, 8.2.7.9
insider sales, 11.3.5.5.3
offers obtained by debtor, 9.6.3
commercially reasonable sale, 12.6.1.3
dealers only auction, 10.7.4.4
market value, establishing, 10.9.5.1, 10.9.5.2, 10.9.5.3
pricing guides, use as, 10.9.5.1, 11.3.5.5.3
repossession history, 6.2.2
substantial impairment, 12.3.4
unsecured property, missing or damaged, 6.2.4.1, 7.3.2, 7.4.4
EXCULPATORY CLAUSES
see WAIVERS
EXECUTIONS
see also ATTACHMENTS
bankruptcy stay, 8.2.4.1, 8.2.4.2
judgment liens, anti-deficiency statutes, effect, 12.4.7
sales, see JUDICIAL SALES
EXEMPT PROPERTY
bankruptcy, 8.4.2, 8.4.4
household goods, 3.3.4
self-help repossessions, 6.3.4
EXPENSES
see also DAMAGES
greensheeting, 11.3.6.1
repossession-related, liability
attorney fees, 11.3.6.4
reconditioning or repair, 11.3.6.2
seizure and storage, 11.3.6.1
selling expenses, 11.3.6.3
towing, 11.3.6.1
FACTOR’S LIENS
see SECURITY INTERESTS
FAIR CREDIT REPORTING ACT (FCRA)
false information, remedies, 13.6.7
FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)
bodily force and threats, 6.4.2, 6.4.3
consumer leases, application, 14.1.3.4
electronic repossessions, application, 6.6.2.2, 6.6.2.4.2, 6.6.4.1
false threats, 6.2.3, 13.5.1.2.3
improper repossessions, 3.10.5, 7.4.3
invalid security interests
enforcement threats, 3.10.4
repossessions, 3.10.5
overview, 13.5.1.1
repossession companies, application, 13.5.1.2, 13.5.1.3.1
repossession practices, scope, 2.3.3.5, 6.5.1, 13.5.1
general provisions, 13.5.1.3.2
specific provisions, 13.5.1.2
research aids, 2.3.3.5
selected provisions, Appx. C.1
violations
attorney fees, 13.11.6
damages, 13.5.1.1
FALSE STATEMENTS
see also MISSTATEMENTS
credit applications, default grounds, 4.6.3.3
FALSE THREATS
see also THREATS
credit card security interests, 3.9.6
FDCPA prohibitions, 2.3.3.5, 6.6.2.2, 13.5.1.2.3
generally, 6.2.3
UDAP violation, 3.3.4.5, 3.3.6, 13.4.3.1
FEDERAL BANKING REGULATORS
CFPB, see CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)
FDIC, see FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
non-purchase-money security interest rules, 3.3.4.3
OCC, see OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC)
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
see also FEDERAL BANKING REGULATORS
deficiency actions by, defenses, 12.10
FEDERAL HOME LOAN BANK BOARD REGULATIONS
see OFFICE OF THRIFT SUPERVISION (OTS)
FEDERAL LENDING INSTITUTIONS
bankruptcy, effect on deficiency defenses, 12.10
consumer leases, 14.1.3.3
federal preemption of state law, 2.3.2.3, 2.5
FTC Credit Practices Rule, application, 3.3.4.3
non-purchase-money security interests, 3.3.4.3
FEDERAL PREEMPTION
see PREEMPTION OF STATE LAW
FEDERAL RESERVE BOARD (FRB)
non-purchase-money security interest rules, 3.3.4.3
Regulation M on Consumer Leasing, 14.1.3.2
realized value definition, 14.2.8.5.1
FEDERAL TRADE COMMISSION (FTC)
consent agreements, see FTC CONSENT AGREEMENTS
credit practices rule, see FTC CREDIT PRACTICES RULE
holder notice, see FTC HOLDER NOTICE
holder rule, see FTC HOLDER RULE
FEES
attorneys, see ATTORNEY FEES AND COSTS
early termination, see EARLY TERMINATION CHARGES
filing charges, see FILING CHARGES
finance charges, see FINANCE CHARGES
late payments, see LATE CHARGES
statement of account, 10.4.11.5
surplus or deficiency calculations, explanation, 11.2.1
unearned, see UNEARNED CHARGES
unsecured property, return, 7.3.3
FILING CHARGES
invalid security interests, effect, 3.10.2
FINANCE CHARGES
see also INTEREST; PENALTIES
late charges, see LATE CHARGES
manufactured homes, 4.5.3.1
minimum statutory damages based on, 13.2.4.6
reserve accounts, 11.3.2.2.2
unearned, see UNEARNED CHARGES
usurious, 4.4.1
FINANCE COMPANIES
see also CREDITORS
repurchase agreements, 10.10.4.1
FINANCIAL INSTITUTIONS
see CREDITORS; FEDERAL LENDING INSTITUTIONS; FINANCE COMPANIES
FINANCING
failure to obtain, yo-yo sales
grounds for default, 4.6.3.2
legitimacy of failure, 4.6.2.4
FINANCING STATEMENTS
collateral description, 3.2.7.2
security interests, perfection, 3.2.7.2, 3.2.9, 3.4.3.4
FIXTURES
accessions, 3.8.4
definition, 5.3.2
“fixture filing,” 5.3.1
FTC Credit Practices Rule, application, 3.3.4.2.3
manufactured homes, status, 5.3.1, 5.3.2
security interests in, 3.3.4.2.3
UCC Article 9, application, 2.2.4.5.1
FORCE
see ASSAULT AND BATTERY; BREACH OF THE PEACE
FORCE-PLACED INSURANCE
see also CREDIT INSURANCE
balance due after repossession, 11.3.2.4
future advance clause, use to secure, 3.8.6
payments under, 11.3.2.5
premiums, unearned rebate, 11.3.2.4
VSI, see VENDOR SINGLE INTEREST INSURANCE (VSI)
FORECLOSURES
bankruptcy stay, 8.2.2.1
manufactured homes, 5.3.2
state law, 2.3.3.10
TILA application, 2.3.3.3, 13.5.3
FRAUD
counterclaims re, 13.9.1
impersonation, see IMPERSONATION
self-help repossessions, 6.4.8
wrongful repossessions, 13.6.8
FRAUDULENT CONVEYANCES
bankruptcy, avoidance, 8.4.6.4
FTC CONSENT AGREEMENTS
see also FEDERAL TRADE COMMISSION (FTC)
major auto dealers
repossession sales, 10.7.2.1
strict foreclosure, 11.1.2.2
FTC CREDIT PRACTICES RULE
see also FEDERAL TRADE COMMISSION (FTC)
antecedent debt clauses, application, 3.6.4
application, 3.3.4.1
consolidations, application, 3.5.3.2
cosigner notice, 12.9.6.1
credit card purchases, application, 3.9.1
creditor attempts to evade, 3.3.4.4
cross-collateral clause violations, 3.7.2
future advance clauses, application, 3.6.4
household goods definition, 3.3.4.2
refinancings, application, 3.5.3.2
replevin hearings, 5.4.2.8
scope, 3.3.4.2, 3.3.4.3
text, Appx. C.4
unfair contract provisions, 4.1.7.4
unfair creditor remedies, 13.4.3.3
violations, remedies, 3.3.4.5
FTC HOLDER NOTICE
see also FEDERAL TRADE COMMISSION (FTC); FTC HOLDER RULE
implied contract term, 12.3.4, 13.9.2.1
FDIC obligations, 12.10
referral loans treated as credit sales, 4.4.3.5
seller-related claims and defenses, 4.4.3.5, 12.3.2, 13.9.2
FTC HOLDER RULE
see also FEDERAL TRADE COMMISSION (FTC)
leases, application, 14.2.11.3
limits on creditor liability, 13.9.2.2
notice requirements, see FTC HOLDER NOTICE
revocation of acceptance, application, 12.3.4
scope and effect, 13.9.2.1
FUTURE ADVANCE CLAUSES
see also ANTECEDENT DEBT CLAUSES; CROSS-COLLATERAL CLAUSES
automobiles, 3.8.6
bankruptcy lien avoidance, 8.4.4
extinguishment by novation, 3.6.2.5
force-placed insurance premiums, 3.8.6
FTC restrictions, 3.6.4
generally, 3.6.1
judicial enforcement, 3.6.2
manufactured homes, 3.8.6
TILA implications, 3.6.5
UCC authorization, 3.6.2.1
GAP INSURANCE
automobile leases, 14.2.9.6
GARAGEMEN’S LIENS
see also LIENS; REPAIRER’S LIENS; STATUTORY LIENS
auto repair lenders, 15.8.3
common law lien, 15.2
statutory liens, 15.4
GARNISHMENTS
bankruptcy stay, 8.2.4.1
GOOD FAITH
see also BAD FAITH
acceleration at will, 4.2.2.2, 4.2.3, 14.2.2.3
accommodation parties, rights, 12.9.5.2
breach of, 13.3
commercial reasonableness, 9.6.3
creditor’s exercise of multiple remedies, 12.2.2.2.1
defined, 4.2.2.2, 4.2.3
revised Article 9 definition, 2.3.1.2, 4.2.2.2, 13.3
financing, obtaining by dealer, 4.6.3.2
private repossession sales, 10.8.9
strict foreclosure, 9.4.6
surety, to, 12.9.5.2
UCC requirement, 2.3.1.2, 4.2.2.2, 4.2.3, 13.3
breach of, remedies, 13.3.2
repossession cases, application, 13.3.1
GOODS
see also COLLATERAL; PERSONAL PROPERTY
anti-deficiency statutes, application, 12.4.4
consumer goods, see CONSUMER GOODS
household goods, see HOUSEHOLD GOODS
sale or return, 9.6.4
GOVERNMENT ENTITIES
bankruptcy stay violations, 8.2.6.2
local bodies, liability for civil rights violations, 13.7.3.3
sovereign immunity of state, 13.7.3.2
GOVERNMENT OFFICIALS
see LAW ENFORCEMENT OFFICIALS; SHERIFFS
GREENSHEETING
inflating repossession costs, 11.3.6.1
churning schemes, 10.10.5
GUARANTORS
see ACCOMMODATION PARTIES
GUIDES
see PRICING GUIDES
HARASSMENT
see also FALSE THREATS; THREATS
household goods, repossession threat, 3.3.2
HEARINGS
reaffirmation, 8.8.1
replevin
burden of proof, 5.4.3.5
counterclaims, raising, 4.4.5, 5.4.3.6
defenses, raising, 5.4.3.6
post-seizure, 5.4.2.7, 5.4.3
right to, 5.4.1.2, 5.4.2.7, 5.4.3.2
waiver, 5.4.2.8
HOLDERS IN DUE COURSE
FTC notice, see FTC HOLDER NOTICE
FTC rule, see FTC HOLDER RULE
HOME-SECURED LOANS
see MORTGAGES
HOUSEHOLD GOODS
see also CONSUMER GOODS
after-acquired, security interests, 3.3.7.2, 3.4.6
antecedent debt clauses, application, 3.6.4
bankruptcy protections, 3.3.3.1, 8.4.4
redemption, 8.5.4
value determinations, 8.5.4
credit property insurance, 3.3.2, 3.3.6
defined, 3.3.4.2
fixtures, security interests, 3.3.4.2.3
FTC Credit Practices Rule, application, 3.3.4, 13.4.3.3
FTC definition, 3.3.4.2
items that are, 3.3.4.2.1
items that are not, 3.3.4.2.3
limited exceptions, 3.3.4.2.2
future advance clauses, application, 3.6.4
non-purchase-money security interests, 3.3
abuses, 3.3.2
FTC prohibition, 3.3.4
state restrictions, 3.3.5
UDAP and related challenges, 3.3.4.5, 3.3.6, 13.4.3.3
personal effects, defined, 3.3.4.2.1
purchase-money security interests, see PURCHASE-MONEY SECURITY INTERESTS
replevin defenses, 5.4.3.6
repossession threats, 3.3.2
state law protections, 3.3.5
value as collateral, 3.3.2
IMMUNITY
government officials
qualified good faith immunity, 6.3.6.5, 13.7.3.4
sovereign immunity, 13.7.3.2
IMPERSONATION
government official, 6.2.4.1, 6.4.7
RTO repossessions, 14.3.5.2
INFORMATION
see DISCLOSURE
INJUNCTIVE RELIEF
civil rights violations, 13.7.2
disputed debts, 4.4.3.6
liens sales, 15.14.2
replevin actions, collateral sale prior to judgment, 5.5.3
repossession sales
commercially unreasonable sales, 13.2.2
deficiency notice violations, 11.2.3
sample complaint, Appx. D.3
wrongful, 13.2.2
sample pleading, Appx. D.3
wrongful repossessions, 13.2.2, 13.7.2
INSIDER SALES
see also REPOSSESSION SALES
credit to buyer, 11.3.5.4
insider status, 11.3.5.2
low price sales, 10.9.4, 10.10.3, 11.3.5.4
proof issues, 11.3.5.5
remedies, 11.3.5.4
repurchase agreements, 10.10.4.1
secured party status, 11.3.5.3
special rules for determining value, 11.3.5.1
restrictions, 10.10.1, 11.3.5.1, 12.5.4
INSOLVENCY
see BANKRUPTCY
INSPECTION
collateral prior to sale, availability, 10.8.7
INSTALLMENT CONTRACTS
see SECURITY AGREEMENTS
INSTALLMENT PAYMENTS
see PAYMENTS
INSTALLMENT SALES
see CREDIT SALES; MOTOR VEHICLE INSTALLMENT SALES; RETAIL INSTALLMENT SELLERS
INSTALLMENT SALES ACTS
see RETAIL INSTALLMENT SALES ACTS (RISA)
INSTRUMENTS
negotiable instruments, see PROMISSORY NOTES
revised Article 9 definition, 2.2.5.3
INSURANCE
auto insurance, leased vehicles, 14.2.9.6
credit, see CREDIT INSURANCE
credit property, see CREDIT PROPERTY INSURANCE
force-placed, see FORCE-PLACE INSURANCE
GAP insurance, see GAP INSURANCE
nonfiling, see NONFILING INSURANCE
premiums, see INSURANCE PREMIUMS
proceeds, see INSURANCE PROCEEDS
rebates, see INSURANCE REBATES
VSI, see VENDOR SINGLE INTEREST INSURANCE (VSI)
INSURANCE CLAIM PAYMENTS
see INSURANCE PROCEEDS
INSURANCE PREMIUMS
unearned, see UNEARNED CHARGES; INSURANCE REBATES
INSURANCE PROCEEDS
security interests
automobiles, 3.8.5
loss to collateral, 3.4.2
manufactured homes, 3.8.5
UCC Article 9, application, 2.2.4.3.3, 2.2.4.8.2, 3.8.5
VSI, credit to consumer, 11.3.2.5, 11.3.6.2.1
INSURANCE REBATES
automobile leases, early termination, 14.2.9.2
calculation, 11.3.3.3
canceling policy, 11.3.3.3
determining insurance purchased, 11.3.3.2
force-placed insurance, 11.3.2.4
rights, 11.3.3.1
INTANGIBLES
general intangibles, revised Article 9 definition, 2.2.5.3
payment intangibles, revised Article 9 definition, 2.2.5.3
INTEREST
see also FINANCE CHARGES
acceleration, after, 11.3.2.3
bankruptcy
allowed secured claims, 8.6.2.3, 8.6.2.4.4
long-term debt, 8.6.3
military personnel, special protections, 6.3.5.1.5
security deposits, 14.2.9.7
unearned, see UNEARNED CHARGES; UNEARNED INTEREST REBATES
INTERNET WEBSITES
see WEB RESOURCES
INTERROGATORIES
see DISCOVERY
INTIMIDATION
see THREATS
JEWELRY
see also CONSUMER GOODS
bankruptcy protections, 8.4.4
collateral description, 3.3.7.2
FTC Credit Practices Rule, application, 3.3.4.2.2
JUDGMENT LIENS
see JUDICIAL LIENS
JUDICIAL FORECLOSURES
see also FORECLOSURES
bankruptcy stay, 8.2.4.1
JUDICIAL LIENS
actions on the debt, 12.4.7
anti-deficiency statutes, effect, 12.4.7
bankruptcy, avoidance, 8.4.5
defined, 8.4.5
enforcement, 12.4.7
sale on execution, see JUDICIAL SALES
JUDICIAL REPOSSESSIONS
see REPLEVIN ACTIONS
JUDICIAL SALES
see also LIEN SALES; REPOSSESSION SALES
anti-deficiency statutes, effect, 12.4.7
commercial reasonableness, 9.5
generally, 9.5
JURISDICTION
bankruptcy court, 8.2.7.7
CLA claims, 2.3.3.3
long-arm jurisdiction, 13.11.1
Rooker-Feldman doctrine, 13.4.4
TILA claims, 2.3.3.3
JURY TRIALS
voir dire, 13.11.4
LABORERS’ LIENS
see also STATUTORY LIENS
unskilled workers, protection, 15.5.2
LATE CHARGES
acceleration, after, 11.3.2.3
RTO transactions, 14.3.7
LATE PAYMENTS
see also PAYMENTS
acceleration of loan, see ACCELERATION
grace periods, 4.2.1
habitual acceptance by creditor, 4.3.1, 4.3.4
LAW ENFORCEMENT OFFICIALS
see also SHERIFFS
debtor resistance, 5.2.9, 6.2.4.1
eviction of tenants, storage of property, liens, 15.7.4
impersonation, 6.2.4.1, 6.4.7
self-help repossessions
assistance, liability for, 13.7.3
presence, effect, 6.3.5.1.7, 6.3.6.3, 6.4.7
private remedies against, 6.3.6.5
qualified immunity, 6.3.6.5, 13.7.3.4
LAWYERS
see ATTORNEYS
LAY-AWAY PLANS
see POSSESSORY SECURITY INTERESTS
LEASEBACKS
see SALE/LEASEBACK TRANSACTIONS
LEASES
see also TENANTS; UCC ARTICLE 2A (LEASES); UNIFORM CONSUMER LEASES ACT
automobile leases, see AUTOMOBILE LEASES
manufactured home ground leases, 5.3.7
personal property, see PERSONAL PROPERTY LEASES
UCC Article 2A, application, 2.2.4.3.1
UCC Article 9, exclusion, 2.2.4.3.1, 2.2.4.6
LEGAL PROCEEDINGS
see also ACTIONS
bankruptcy stay, 8.2.4.1
military personnel, special protections, 4.2.6, 6.3.5.1, 14.2.2.5.2
LEGISLATION
see STATE LAW; STATUTES
LENDERS
see CREDITORS
LIABILITY
automobile leases, see AUTOMOBILE LEASES
bankruptcy stay compliance, 8.2.6.1
breach of the peace, 6.4.10
civil rights violations, 13.7
law enforcement officers, 13.7.3.4
local governmental bodies, 13.7.3.3
private parties, 13.7.3.5
state, 13.7.3.2
creditor defenses, 13.10
deficiencies
generally, 11.1.1
notice, 10.4.11.7
principal for actions of agent or employee, 7.4.1.6, 13.10.4
RTO transactions, 14.3.7
repossessed collateral
destruction, 10.3.1
repurchase agreements, disposal, 10.10.4.2
repossession company, 13.10.4.3
repossession-related expenses, 11.3.6
repossessor’s actions, 7.4.1.6, 13.10.4, 14.3.7
resisting or hindering repossession
civil liability, 6.2.4.3
criminal liability, 6.2.4.2
seller-related claims, 13.9.2, 14.2.11.3
unsecured property seizure, 7.5, 13.10.3
LICENSES
professional repossessors, 6.5.4, 13.5.5
repossessed collateral, disposition by, 10.1.3
statutory lien precondition, 15.4
LIEN SALES
see also LIENS
common law liens, 15.11.1
conduct of sale, 15.12
consensual liens, see REPOSSESSION SALES
constitutional challenges, 15.13
injunctive relief, 15.14.2
military personnel, protections, 15.11.3
notice requirements, 15.11.2
state law requirements, 15.11.2
tender prior to, 15.10
unauthorized, consumer remedies, 15.14
LIENS
bankruptcy proceedings
avoidance, 8.4
retention, 8.6.2.3
common law, 15.1, 15.2, 15.6.2
consensual, see SECURITY INTERESTS
consent to services, 15.7
enforcement, see LIEN SALES
factor’s liens, see SECURITY INTERESTS
garagemen’s liens, see GARAGEMEN’S LIENS
judicial, see JUDICIAL LIENS
possession requirement, 15.8.1
release of property, 15.14.2
repairer’s liens, see REPAIRER’S LIENS
statutory, see STATUTORY LIENS
storage, see TOWING AND STORAGE LIENS; WAREHOUSEMEN’S LIENS
towing, see TOWING AND STORAGE LIENS
UCC Article 9, application, 2.2.4.4, 15.1
exclusions, 2.2.4.3.3, 2.2.4.4
unauthorized, consumer remedies, 15.14
warehousemen’s liens, see WAREHOUSEMEN’S LIENS
LIFE INSURANCE
see CREDIT INSURANCE
LIMITATIONS
see STATUTE OF LIMITATIONS; TIME LIMITS
LIQUIDATED DAMAGES
see also DAMAGES
automobile leases, 14.2.5, 14.2.7.2, 14.2.10.1
LITIGATION AIDS
see PRACTICE TIPS
LOANS
see also CREDIT TRANSACTIONS; DEBT OBLIGATION
anti-deficiency statutes, application, 12.4.3
auto repair loans, 15.8.3
business purpose loans, see BUSINESS PURPOSE LOANS
consolidation, see CONSOLIDATION OF DEBT
home equity, see MORTGAGES
installment sales acts, application, 2.3.2.1
modification, see MODIFICATION OF LOAN
seller referrals, see REFERRAL LOANS
seller-related claims and defenses, application, 4.4.3.5, 12.4.3
state law, 2.3.2.1
unearned interest rebates, application, 11.3.2.2.1
LOTTERY WINNINGS
UCC Article 9, application, 2.2.4.8.1, 2.2.4.8.2, 2.2.5.3
MANUFACTURED HOMES
see also MOTOR VEHICLE INSTALLMENT SALES
accessions, 3.8.4, 7.1
anti-deficiency statutes, 12.4.2, 12.4.4, 12.4.7, 12.16.8
applicable law, 2.3.3.10
arbitration clauses prohibited, 13.11.3.2.1
bankruptcy stripdown, application, 8.7.3.1
certificate of title, retention by seller, 3.8.2.2
consignment sales, 9.6.4
force-placed insurance, 3.8.6
foreclosures, 5.3.2
ground lease default, 5.3.7
personalty or realty, 2.2.4.5.1, 5.3.1, 6.3.3
conversion to real property, 5.3.3
factors, 5.3.6
fixture status, 5.3.2
state law, 5.3.4, 5.3.5
pricing guides, use to establish market value, 10.9.5.1
replevin actions, 5.3
fixture status, 5.3.2
personalty status, 5.3.1, 5.3.4
realty status, 5.3.4, 5.3.5, 5.3.6
state law, 5.3.4, 5.3.5
title-purging statutes, 5.3.3
repossessions
see also REPOSSESSIONS
ground lease issues, 5.3.7
lot rent after, 5.3.7
OCC regulations, 4.5.3.1
self-help repossessions, 6.3.3
special issues, 1.4.12, 2.3.3.10
retail installment sales contract, assignment by debtor, 10.4.6.3
right to cure first mortgage loans, 4.5.3
application of rule, 4.5.3.1, 4.5.3.2
bankruptcy situations, 8.6.3
DIDA incentives, 4.5.3.1
obfuscating provisions, effect, 4.5.3.4
operation of rule, 4.5.3.3
security interests
added property, 3.8.3, 3.8.4
antecedent debt clauses, 3.8.6
Article 9 rules, 3.8.2.1
common errors, 3.8.2.1
creation, 3.8.2
force-placed insurance premiums, 3.8.6
future advance clauses, 3.8.6
generally, 3.8.1
ground lease issues, 5.3.7
insurance proceeds, 3.8.5
trade-ins, 3.8.5
special issues, 1.4.12
state law, 2.3.3.10, 5.3
statutory liens, coverage, 5.3.7, 15.6.1
TILA rescission, application, 2.3.3.3
title-purging statutes, 5.3.3
vehicle status, 2.3.2.3
MARKET
see MARKET VALUE; RECOGNIZED MARKET
MARKET VALUE
see also SALE PRICE; VALUE
collateral
burden of proof, 12.6.3.3, 12.6.4
other methods to establish, 10.9.5.3
pricing guides, using, 10.9.5.1, 12.6.3.3
resale price, 10.9.5.2
sales below, 10.9.1
web resources, 10.9.5.1
MECHANIC’S LIENS
see also LIENS; REPAIRER’S LIENS; STATUTORY LIENS
common law lien, 15.2
statutory liens, 15.4
MERCHANTS
see also CREDIT SALES; CREDITORS; RETAIL INSTALLMENT SELLERS
credit cards issued by, see STORE CREDIT CARDS
payment allocations, 3.9.4
records, production, 3.9.2.2
security interests, validity, 3.9.1–3.9.5
series of purchases, 3.7
MILITARY PERSONNEL
see also SERVICEMEMBERS CIVIL RELIEF ACT
arbitration clauses, validity, 13.11.3.2.2
automobile title loans, 3.2.8, 3.8.7.1, 3.8.7.2
interest rate protections, 4.2.6, 6.3.5.1.5
lease protections, 14.2.2.5
early termination rights, 14.2.9.5
lien protections, 15.11.3
military service, defined, 6.3.5.1.2
non-purchase money security interests, 3.2.8, 13.11.3.2.2
overview of protections, 2.3.3.4, 6.3.5.1.1
repossession protections, 4.2.6, 6.3.5.1
leases, 14.2.2.5.1
military bases, 6.3.5.1.7
RTO transactions, 14.3.5.5
self-help repossession, 6.3.5.1.3, 6.6.2.3.2
state law, 6.3.5.1.8
stay of proceedings, 6.3.5.1.4
MISREPRESENTATIONS
credit applications, default ground, 4.6.3.3
government affiliation, see IMPERSONATION
leases, 14.2.11.3
reliance on, 4.3.3
tort claims, 13.6.8
unfair and deceptive practices, 13.4.3.1
wrongful repossession, as, 6.4.7, 13.6.8
MISSTATEMENTS
see also FALSE STATEMENTS
notice of sale
collateral description, 10.4.11.3
identity of secured party, 10.4.11.2
method of sale, 10.4.11.4
non-required information, 10.4.11.12.2
standard of accuracy, 10.4.11.11
time of sale, 10.4.11.6
MISTAKES
collateral identification, 3.2.7.3
notice of sale, 10.4.11.11, 10.4.11.12
security interests, effect, 3.2.4, 3.2.7.1, 3.2.7.3
MOBILE HOMES
see MANUFACTURED HOMES
MODIFICATION OF LOAN
guarantors, discharge by, 12.9.3.2.2, 12.9.3.4.1, 12.9.4.2
no oral modification clauses, 4.3.1.2, 4.3.4
MORTGAGES
see also SECURITY AGREEMENTS
chattel mortgages, see SECURITY INTERESTS
federally-regulated, regulations, Appx. C.5
right to cure
bankruptcy, 8.6.3
manufactured homes, 4.5.3, 8.6.3
securitization, revised Article 9, application, 2.2.4.5.2
MOTOR VEHICLE INSTALLMENT SALES
see also AUTOMOBILES; CREDIT SALES; RETAIL INSTALLMENT SALES ACTS (RISA)
acceleration restrictions, 4.2.2.3
contingency clauses, see CONTINGENCY CLAUSES
default grounds, restrictions, 4.2.7
manufactured homes, status, 2.3.2.3
security interests
added property, 3.8.3, 3.8.4
creation, 3.8.2
insurance proceeds, 3.8.5
perfection, 3.4.3.4
trade-ins, 3.8.5
state law, 13.5.4
yo-yo transactions, see YO-YO TRANSACTIONS
MOTOR VEHICLES
see AUTOMOBILES
MUSICAL INSTRUMENTS
FTC Credit Practices Rule, application, 3.3.7.3
NATIONAL AUTOMOBILE DEALERS ASSOCIATION (NADA)
pricing guides, 10.9.5.1
NATIONAL CLEARINGHOUSE FOR LEGAL SERVICES
see SARGENT SHRIVER NATIONAL CENTER ON POVERTY LAW
NATIVE AMERICANS
deficiency judgments, protections, 12.6.7
repossession protections, 6.3.5.2, 6.6.2.3.2
NEGATIVE EQUITY
trade-in vehicles, 8.7.3.2
not part of purchase-money obligation, 8.7.3.2.4, 8.7.3.2.5
part of purchase-money obligation, 8.7.3.2.3
NEGLIGENCE
see also TORT CLAIMS
actual damages, 13.6.10
bailments, 2.3.4.2.2, 2.3.4.2.4
potential causes of action, 13.6.3
repossession companies, liability of creditor, 13.10.4
unsecured property taken with collateral
damage to, 7.4.1.4
failure to return, 7.4.1.2
wrongful repossessions, 13.6.1
NEGOTIABLE INSTRUMENTS
see PROMISSORY NOTES; UCC ARTICLE 3 (NEGOTIABLE INSTRUMENTS)
NONFILING INSURANCE
invalid security interests, effect, 3.10.2
NON-PAYMENT
see DEFAULT
NON-PURCHASE-MONEY SECURITY INTERESTS
see also SECURITY INTERESTS
abuses, 3.3.2
after-acquired property, 3.3.7.2, 3.4.6
antecedent debt clauses, 3.6
automobiles, see AUTOMOBILE TITLE LOANS
bankruptcy proceedings, avoidance, 3.3.3.1, 8.4.4, 8.8.2.1
collateral description
adequacy, 3.3.7.1
after-acquired property, distinguishing, 3.3.7.2
“dual status” rule, 3.3.3.2, 8.7.3.2.5
FTC Credit Practices Rule, 3.3.4, 3.6.4, 13.4.3.3
future advance clauses, 3.6
household goods, 3.3, 3.6.4, 8.4.4, 13.4.3.3
possessory interests, see POSSESSORY SECURITY INTERESTS
seller-related claims, raising, 13.9.2.1
state restrictions, 3.3.5
TILA rescission rights, 13.5.3
UCC requirements, meeting, 3.3.7.1
UDAP violations, 3.3.4.5, 3.3.6, 13.4.3.3
unconscionability challenges, 3.3.6
NOTE
see PROMISSORY NOTES
NOTICE
see also DISCLOSURES (TILA)
acceleration
rights, 4.1.6, 4.5.3.3
waiver of rights, 4.1.7
accommodation parties
FTC notice, 12.9.6.1
sale of collateral, 10.4.6.1, 10.4.10, 12.9.5.1.2
automobile title loans, repossessions, 3.8.7.4, 3.8.7.6
assignment of debt, 4.2.1, 12.3.2
bankruptcy
automatic stay, 8.2.5
turnover of property, 8.3.3
default
automobile leases, 14.2.2.1, 14.2.3
manufactured home loans, 4.5.3.3
time to cure, 4.1.7.3, 4.5.2.2, 4.5.3.1
yo-yo sales, 4.6.3.2
deficiency, 11.2
special state requirements, 12.8.2
electronic notices, see ELECTRONIC DOCUMENTS
evicted tenants, removal of property, 15.7.4
FTC cosigner notice, 12.9.6.1
FTC holder notice, 4.4.3.5
lien sales, requirements, 15.11.2
manufactured home loan default, 4.5.3.3
redemption rights, 9.3.2, 9.3.5
yo-yo sales, 4.6.3.2
reinstatement rights, 9.2.2
replevin hearing, 5.4.2.7, 5.4.3.2
replevin procedures, 5.4.1.2
right to cure
electronic notices, 4.5.2.3
manufactured home loans, 4.5.3.3
requirements, 4.5.2.2
voluntary notice, 4.5.4
sale of collateral, 10.4
accommodation parties, 10.4.6.1, 10.4.7.2, 10.4.10, 12.9.5.1.2
accuracy standard, 10.4.11.11
actual knowledge by debtor, effect, 10.4.5.1
additional information, 10.4.11.12
analyzing the case, 1.4.7
automobile title loans, 3.8.7.4, 3.8.7.6
collateral transferred to new debtor, 10.4.6.3
content, 10.4.11
dealers only auctions, 10.4.5.3, 10.6.3
defaulting debtor, sales by, 9.6.1, 9.6.2
electronic notice, 10.4.3, 10.4.4.2
exceptions, 10.4.5
explanation of deficiency or surplus, 11.2
importance, 10.4.1
model form, 10.4.11.10
multiple notices, 10.4.6.2
nonreceipt, 10.4.9
perishable collateral, 10.4.5.3
receiver of notice, 10.4.6
recognized market, 10.4.5.3
revised Article 9, 10.4.1, 10.4.11
safe harbor notice, 9.3.5, 10.4.1, 10.4.11.10, 10.4.11.12.1
safe harbor time, 10.4.8.1
sender of notice, 10.4.2
sending, manner of, 10.4.4
sent, defined, 10.4.3, 10.4.4.1
state law requirements, 10.4.11.12.1
timing, 10.4.8
violations, remedies, 10.4.12
waiver, 10.4.7, 10.4.10
written requirement, 10.4.3
yo-yo repossessions, 4.6.3.5
self-help repossessions, 6.5.2
seller breach, intention to deduct damages, 4.4.3.2
strict foreclosure
creditor’s proposal, 9.4.3.2.3
objection, 9.4.3.2.3
requirements, 9.4.3.3
surplus, 11.2
yo-yo repossessions, 4.6.3.5
NOVATION
extinguishment of loan, 3.5.2.1
future advance clauses, effect, 3.6.2.5
refinancing as, 3.5
renewal of loan distinguished, 3.5.2.1
OBLIGATIONS
see DEBT OBLIGATION
OBLIGORS
see also DEBTORS
debtor distinguished, 2.2.5.2
defined, 2.2.5.2, 12.9.5.1.1, 13.2.4.4
secondary obligor, defined, 2.2.5.2, 11.3.5.2, 12.9.5.1.1
OFFICE OF THE COMPTROLLER OF THE CURRENCY (OCC)
see also FEDERAL BANKING REGULATORS
manufactured homes, right to cure regulations, 4.5.3
failure to comply, 4.5.3.4
preemption regulations, 2.5.2, 2.5.3.1
consumer leases, 14.1.3.3
OFFICE OF THRIFT SUPERVISION (OTS)
abolition, 2.5.2, 4.5.3.1
former preemption regulations, 2.5.3.2
OFFSETS
see SET-OFFS
OMISSIONS
see MISTAKES
OWNERSHIP
see also CERTIFICATES OF TITLE; TITLE
collateral
determination, 3.2.6
necessity, 3.2.6
redemption period, 9.3.3
debt obligation
deficiency precondition, 12.8.1
leases, 14.2.11.2
transfer pursuant to repurchase agreement, 10.10.4
PARTIES
bankruptcy stay, motion for relief, 8.2.7.5
deficiency actions, 12.8.1
leases, collection actions, 14.2.11.2
related to secured party, defined, 11.3.5.2
PAWN TRANSACTIONS
see also POSSESSORY SECURITY INTERESTS
applicability of UCC Article 9, 2.2.4.2
automobiles, see AUTOMOBILE TITLE LOANS
bankruptcy turnover, application, 8.3.2
PAYMENT ALLOCATIONS
see also PAYMENTS
credit card purchases, 3.9.4
cross-collateral clauses, effect, 3.7.2
FIFO approach, 3.9.4
multiple purchases, 3.7.4
pro-rata schemes, 3.7.4, 3.9.4
PAYMENT OBLIGATIONS
see DEBT OBLIGATIONS
PAYMENTS
allocations, see PAYMENT ALLOCATIONS
bankruptcy plans, failure to credit, 8.6.3
bankruptcy redemptions, 8.5.3
deductions for breach of contract, 4.4.3
against which payments, 4.4.3.3
assignments, effect, 4.4.3.5
notification requirements, 4.4.3.2
potential consequences, 4.4.3.6
rights, 4.4.3.1, 4.4.3.4
late, see LATE PAYMENTS
prepayment, see PREPAYMENTS
PENALTIES
see also FINANCE CHARGES; PUNITIVE DAMAGES; STATUTORY DAMAGES
acceleration, after, 11.3.2.3
early termination, see EARLY TERMINATION CHARGES
PERFECTION OF SECURITY INTERESTS
see also SECURITY INTERESTS
automatic perfection, 3.4.3.3
bankruptcy stay, 8.2.4.2
choice of law, 3.2.9
collateral description, 3.2.7.2
effect, 3.2.9
financing statement, filing, 3.4.3.4
motor vehicles, 3.4.3.4
necessity, 3.2.9
refinancings, effect, 3.5.3.1
unperfected interests
bankruptcy avoidance, 3.4.3.2, 8.4.6.2
surety discharge, 12.9.3.2.3, 12.9.3.4.2
PERSONAL EFFECTS
see HOUSEHOLD GOODS
PERSONAL PROPERTY
see also GOODS
bankruptcy, valuation, 8.5.4, 8.6.2.4
household goods, see HOUSEHOLD GOODS
laws governing, 2.2.4.5.1, 2.2.4.5.3
leases, see PERSONAL PROPERTY LEASES
manufactured homes as, 2.2.4.5.1, 5.3
recovery actions, see REPLEVIN ACTIONS
secured, see COLLATERAL
seizure, see REPOSSESSIONS; SELF-HELP REPOSSESSIONS
statutory liens, scope, 15.6.1
unsecured, see UNSECURED PERSONAL PROPERTY
PERSONAL PROPERTY LEASES
adjusted lease balance, see ADJUSTED LEASE BALANCE
automobile, see AUTOMOBILE LEASES
CLA, application, 14.1.3.2, 14.2.10.2, 14.2.10.4
closed-end leases, see AUTOMOBILE LEASES
credit sales disguised as, 14.1.1
early termination penalties, see EARLY TERMINATION CHARGES
FDCPA, application, 14.1.3.4
FTC Holder Rule, application, 14.2.11.3
installment sales acts, application, 2.3.2.3
lease, defined, 14.1.3.1
military personnel, 14.2.2.5, 14.2.9.5
non-terminable leases, 14.1.2.3.2
open-end leases, 14.2.1.3
repossessed collateral, 10.1.2
reversionary interest, 14.1.2.3.3
RTO transactions
see also RENT-TO-OWN (RTO) TRANSACTIONS
status as, 14.3.2.2
security interest creation, 14.1.1, 14.1.2
non-terminable leases, 14.1.2.3.2, 14.1.2.3.3
security interest distinguished, 2.2.4.6, 14.1.2.3
state law, 2.3.3.11, 14.1.3.3, 14.1.3.4, 14.2.10.3
UCC Article 2A, application, 2.2.4.6, 14.1.3.1, 14.2.1, 14.2.10.1
UCC Article 9, application, 2.2.4.3.1, 2.2.4.6, 14.1.2, 14.2.1, 14.3.2
UDAP, 14.1.3.4
PLACE OF BUSINESS OR EMPLOYMENT
entry by repossessor, 6.4.6.4
PLEADINGS
bankruptcy pleadings, 2.3.3.7
deficiency actions, 12.8.3
NCLC online materials, 1.1.5
replevin actions, 5.4.2.5
filing, 5.4.3.4
sample pleadings, 1.1.5, 13.11.2, Appx. D
breach of peace complaint, Appx. D.4
class action churning complaint, Appx. D.5
complaint to enjoin sale, Appx. D.3
conversion complaint, Appx. D.4
deficiency actions, answer and counterclaim, Appx. D.1, Appx. D.2
section 1983 complaint, Appx. D.4
PLEDGES
see also POSSESSORY SECURITY INTERESTS; SECURITY INTERESTS
agreement, necessity, 3.2.1.2
overview, 2.3.4.3
possessory security interests, 3.2.1.2.1
POLICE OFFICERS
see LAW ENFORCEMENT OFFICIALS; SHERIFFS
POSSESSION
bankruptcy turnover, issues, 8.3.4
collateral after revocation of acceptance, 4.4.2.2
liens, requirement, 15.2, 15.8.1
possessory security interests, requirement, 3.2.1.2.1
POSSESSORY SECURITY INTERESTS
see also SECURITY INTERESTS
automobile title loans, status, 3.8.7.3, 3.8.7.8
consumer after revocation of acceptance, 4.4.2.2
elements, 3.2.1.2.1
FTC Credit Practices Rule, application, 3.3.4.1
possession, necessity, 3.2.1.2.1
signed agreement, necessity, 3.2.1.2.1
POWER OF SALE
see FORECLOSURES
PRACTICE TIPS
see also RESOURCE AIDS
analyzing a repossession case, 1.4
advising the client, 1.4.2
applicable law, 1.4.3
collateral disposition, 1.4.8
default, 1.4.5
deficiency judgments, 1.4.10
deficiency or surplus, 1.4.9
leased property, 1.4.13
manufactured homes, 1.4.12
notice of redemption rights, 1.4.7
remedies, 1.4.11
security interests, 1.4.4
self-help repossessions, 1.4.6
balance due on debt, calculating, 11.3.2
bankruptcy
notice of stay, 8.2.5, 8.2.6.1
turnover of property, 8.3.3
churning schemes, 10.10.5
contingency clauses, 4.6.2.2, 4.6.2.3, 4.6.2.4
credit math software, 1.1.5
default, factual determination, 4.1.2
deficiency actions, defending, 12.1.2, 12.6.3
deficiency bar combined with statutory damages, 13.2.7.5
discovery, see DISCOVERY
handling repossession cases, 1.3
establishing repossession practice, 1.3.2
importance, 1.3.1
insurance rebates, 11.3.3
jury selection, 13.11.4
NCLC treatise, using, 1.1
pleadings, see PLEADINGS
reaffirmation agreements, 8.8.1
repossession sales
attendance, 10.10.3
dealers only auctions, 10.7.4.3, 10.7.4.4
low sale price, 10.9.1, 10.9.6
representing client before repossession, 6.2
false threats, 6.2.3
resisting repossession, 6.2.4
voluntary surrender, 6.2.1
repurchase agreements, 10.10.4.1, 10.10.4.2
research aids, see RESOURCE AIDS
revolving repossession schemes, 10.10.5
scope issues, 2.2.4
settlement, 13.11.5
sources of law, 2.3.2
statutory liens, objections to charges, 15.5.4
stop payments, 4.4.3.6
unsecured property seized with collateral
FMCC-type disclaimers, challenging, 7.5.2
legal claims, 7.4
steps prior to bringing legal action, 7.3
voir dire, 13.11.4
web resources, see WEB RESOURCES
PREEMPTION OF STATE LAW
federal lending institutions, 2.3.2.3, 2.5
leasing laws, 14.1.3.3
OCC regulations, 2.5.3.1
OTS former regulation, 2.5.3.2
overview, 2.5.1
state consumer credit laws, 2.3.2.2, 2.3.2.3
state laws by UCC, 2.3.2.2
state laws restricting security interests, 2.5.4
state repossession laws, 2.5.3
UCC by federal laws, 2.5.2
PREEXISTING DEBT CLAUSES
see ANTECEDENT DEBT CLAUSES
PREFERENCES
bankruptcy, avoidance, 8.4.6.3
PREPAYMENT PENALTIES
see EARLY TERMINATION CHARGES
PREPAYMENTS
acceleration as, 11.3.2.2.1
penalties, see EARLY TERMINATION CHARGES
RTO payment as, 14.3.7
unearned interest rebates, 11.3.2.2.1
PRICE
see SALE PRICE
PRICING GUIDES
market value, 10.9.5.1, 11.3.5.5.3, 12.6.3.3
residual value, 14.2.8.3
websites, 10.9.5.1
PRINCIPAL RESIDENCES
see also MORTGAGES
non-purchase-money security interests, TILA rescission, 13.5.3
PRIORITIES
consignment goods, 9.6.4
perfected security interests, 3.4.3
revocation of acceptance, after, 4.4.2.2.2
PRIVACY CONCERNS
electronic tracking devices, 6.6.4.8
invasion of privacy, 13.6.4
PRIVATE SALES
see also DEALERS ONLY AUCTIONS; REPOSSESSION SALES
advertisement, 10.8.6
appraisals, 10.8.8
choice by creditor, 10.7.1, 10.7.3
commercial reasonableness, 10.8.6
dealers only auctions as, 10.6.3
determining if a sale is, 10.6
good faith bargaining, 10.8.9
inspection of collateral, 10.8.7
public sales distinguished, 10.6
purchase by creditor, 10.10.1, 12.5.4
requirements, 10.8.8
wholesale, 10.7.2.1, 10.7.3
PROCEEDS
credit to debtor, 11.3.4
deficiencies, see DEFICIENCY ACTIONS
definition, 3.4.2
insurance, see INSURANCE PROCEEDS
secured party’s interest, 3.4.2, 3.8.5
surpluses, see SURPLUSES
PRODUCTION OF DOCUMENTS
see DISCOVERY
PROFESSIONAL REPOSSESSORS
see also DEBT COLLECTORS; REPOSSESSIONS
convicted car thieves, employment, 7.1
debt collector status, 13.5.1.3.1
FDCPA, application, 2.3.3.5, 7.4.3, 13.5.1
greensheeting, 11.3.6.1
independent contractor status, 13.10.4.2
liability, 13.10.4.3
licenses, 6.5.4, 13.5.5
military bases, access, 6.3.5.1.7
respondeat superior, application, 13.10.4.1
state regulation, 2.3.2.1, 13.5.2, 13.5.5
UDAP violations, 13.4.3
unsecured personalty, seizure, 7.4.3
wrongful acts, creditor liability, 7.4.1.6, 13.10.4
RTO transactions, 14.3.7
PROMISSORY NOTES
see also DEBT OBLIGATION; SECURITY AGREEMENTS
acceleration, see ACCELERATION
cosigners, Article 3 protections, 2.3.1.3
revised Article 9, application, 2.2.4.8.1, 2.2.5.3
right to enforce, 12.8.1
security interest, specific grant, 3.2.2.2, 3.2.2.3
PROOF
see BURDEN OF PROOF; EVIDENCE
PROPERTY
accessions, see ACCESSIONS
after-acquired property, see AFTER-ACQUIRED PROPERTY
bankruptcy issues, see BANKRUPTCY
custodians, see CUSTODIANS
foreclosure, see FORECLOSURES
personal property, see PERSONAL PROPERTY
real property, see REAL PROPERTY
repossessed, see REPOSSESSED PROPERTY
repossession, see REPOSSESSIONS
secured, see COLLATERAL
security interests, see SECURITY INTERESTS
unsecured, see UNSECURED PERSONAL PROPERTY
valuation, see VALUATION
value, see VALUE
PROPERTY INSURANCE
see CREDIT PROPERTY INSURANCE
PROSECUTION
see CRIMINAL PROSECUTION
PUBLIC SALES
see also AUCTIONS; REPOSSESSION SALES
advertisement, 10.8.5
auction requirements, 10.6.2
choice by creditor, 10.7.1
wholesale dispositions, 10.7.2
commercial reasonableness, 10.10.2
defined, 10.6.2
determining if a sale is, 10.6
inspection of collateral, 10.8.7
location, 10.8.4
private sale distinguished, 10.6, 10.10.1
purchase by creditor, 10.10.2, 12.5.4
sale to highest bidder, 14.7.5
standards, 10.8
PUNITIVE DAMAGES
see also DAMAGES
arbitration awards, 13.11.3.4.2
statutory damages, in addition, 13.2.6.3
tort claims, 13.6.11
unsecured property, seizure, 7.4.1.7
wrongful replevin, 5.5.2.3
wrongful repossessions, 13.6.11
Native Americans, 6.3.5.2
RTO transactions, 14.3.5.3
PURCHASE-MONEY SECURITY INTERESTS
see also COLLATERAL; CREDIT SALES
automatic perfection, 3.4.3.3
bankruptcy lien avoidance, application, 3.3.3.1, 8.4.4, 8.7.3.1
burden of proof, 3.3.3.4
commercial transactions, 3.3.3
credit card purchases, see CREDIT CARD PURCHASES
debt consolidation, effect, 3.5.3
definition, 3.3.3.1, 8.7.3.2.2
“dual status” rule, 3.3.3.2, 8.7.3.2.5
FTC Credit Practices Rule, application, 3.3.4.1, 3.5.3
FTC Holder Rule, application, 13.9.2
negative equity trade-ins and, 8.7.3.2
possessory interests, see POSSESSORY SECURITY INTERESTS
reaffirmation agreements, 8.8.2.1
refinancings, effect, 3.3.3.3, 3.5.3, 3.5.4
seller-related claims, raising, 13.9.2
“transformation rule,” 3.5.3.1, 8.7.3.2.5
RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS ACT (RICO)
see RICO CLAIMS
RADIOS
see ELECTRONIC ENTERTAINMENT EQUIPMENT
REAFFIRMATION AGREEMENTS
disclosure requirements, 8.8.1
lender abuses, 8.8.2.2
restrictions, 8.8.1
statement of intention, 8.9.1, 8.9.2.3
store credit cards, 8.8.2
REAL PROPERTY
foreclosure, see FORECLOSURES
laws governing, 2.2.4.5.1, 2.2.4.5.3
manufactured homes as, 2.2.4.5.1, 5.3, 6.3.3
mortgages, see MORTGAGES
principal residence, see PRINCIPAL RESIDENCES
UCC, application, 2.2.4.5.1
securitized mortgages, 2.2.4.5.2
REALIZED VALUE
automobile leases
appraisals, 14.2.8.6
credit for, 14.2.8.9
defined, 14.2.6.2
determination, 14.2.8.5
excess use and wear, double counting, 14.2.8.7
importance of calculation, 14.2.8.1
low realized value, 14.2.8
residual value, exceeding, 14.2.8.2
sale price, 14.2.8.5, 14.2.8.6
selling expenses, 14.2.8.8
Regulation M, 14.2.8.5.1, 14.2.8.5.2
REASONABLENESS
see COMMERCIAL REASONABLENESS
REBATES
federal rebate statute, Appx. C.2
insurance, see INSURANCE REBATES
unearned charges, see UNEARNED INTEREST REBATES
unearned interest, see UNEARNED INTEREST REBATES
RECOGNIZED MARKET
dealers only auto auctions, 10.4.5.3, 10.7.4.2
defined, 10.4.5.3, 10.7.4.2, 10.10.1
repossession sales
commercially reasonable, 10.7.4.2
notice exemption, 10.4.5.3
RECONDITIONING
collateral, consumer liability
computing expense, 11.3.6.2.2
validity of expense, 10.3.3, 11.3.6.2.1
creditor’s duties, 10.3.3, 11.3.6.2.1
warranty coverage, 11.3.2.5, 11.3.6.2.1
RECOURSE AGREEMENTS
see REPURCHASE AGREEMENTS
REDEMPTION
see also REINSTATEMENT
absolute right until disposition, 9.3.2
accommodation party rights, 12.9.5.1.2
advantages and disadvantages, 9.3.1
amount of tender
acceleration, after, 9.3.1, 9.3.6.3
determination, 9.3.6
disclosure, 9.3.6.2
multiple items of collateral, 9.3.6.4
telephone number to call, 9.3.5, 9.3.6.2, 10.4.11.8
analyzing a repossession case, 1.4.7
automobile title loans, 3.8.7.4, 3.8.7.8
bankruptcy situations, 8.5
automobile title loans, 3.8.7.8
installment payments, 8.5.3
payment in full, 8.5.3
secured property, 8.5.4
statement of intention, 8.9.1
store credit card purchases, 8.8.2.1
valuation of property, 8.5.4
collateral securing more than one obligation, 9.3.6.4
electronic repossessions, 6.6.2.6
notice of right, 9.3.5
ownership during redemption period, 9.3.3
refusal by secured party, 9.3.8
reinstatement distinguished, 9.2.1
repossession sale purchase as alternative to, 9.3.1
safe-harbor form, 9.3.5, 9.3.6.3
state law rights, 9.3.1, 9.3.8
statement of account, 9.3.6.2, 10.4.11.5
telephone number to call regarding, 9.3.5, 9.3.6.2, 10.4.11.8
tender
amount, 9.3.1, 9.3.6
procedures, 9.3.7
refusal, 9.3.8
timely offer as replevin defense, 5.4.3.6
UCC Article 9 basics, 2.2.2, 9.3
waiver of right, 9.3.9
who can redeem, 9.3.4
yo-yo sales, 4.6.3.4, 4.6.3.5
REFERRAL LOANS
see also LOANS
deductions for seller breach, 4.4.3.5
FTC holder notice, 4.4.3.5
REFINANCINGS
see also CONSOLIDATION OF DEBT
antecedent debt clauses, 3.6
bankruptcy lien avoidance, application, 8.4.4
cross-collateral clauses, 3.7.3
FTC Credit Practices Rule, application, 3.5.3.2
future advance clauses, 3.6
non-purchase-money security restrictions, application, 3.5.3, 3.5.4
novations, 3.5.2.1, 3.5.2.2
purchase-money status, 3.5.3, 3.5.4
renewals, 3.5.2.1
repossession alternative, 6.2.2
security interests, 3.5
automatic survival, 3.5.2.1
continued enforceability, 3.3.3.3, 3.5
creation anew, 3.5.2.2
generally, 3.5.1
state law, 3.5.4
“transformation rule,” 3.5.3.1
REINSTATEMENT
see also REDEMPTION
analyzing a repossession case, 1.4.7
automobile leases, 14.2.3
automobile title loans, 3.8.7.4
limits on, 9.2.3
notice of rights, 9.2.2
redemption distinguished, 9.2.1
replevin, avoiding by, 5.5.1
right to cure, distinguished, 4.5.1, 9.2.1
RTO transactions, 14.3.6
state law rights, 9.2
violations, remedies, 9.2.4
voluntary surrender of collateral followed by, 6.2.1
yo-yo sales, 4.6.3.4
RELEASE FORMS
see also WAIVERS
unsecured property taken and returned, 7.3.3
RELIEF FROM STAY
see under BANKRUPTCY
REMEDIES
see also DAMAGES
accommodation parties, 12.9.5.1.2
arbitration, avoiding, 13.11.3.2
attorney fees, 13.11.6
automobile leases, unreasonable penalties, 14.2.10
bailments, 2.3.4.2.4
bankruptcy as, see BANKRUPTCY
bankruptcy stay violations, 8.2.6
civil theft claims, 13.4.4
consignments, dealer default, 9.6.4
constitutional violations, 6.3.6.5, 13.7
consumer credit laws, 13.5.4
consumer leases
improper calculations, 14.2.7.2
unreasonable charges, 14.2.10
contract, 13.6.13
counterclaims, see COUNTERCLAIMS
credit-related claims, 13.9.1
creditor remedies, see CREDITORS
debt collection abuse, 13.5.1, 13.5.2, 13.9.1
deficiencies
defeated claims, 13.2.7
failure to explain, 11.2.3, 12.6.6
UCC noncompliance, 12.6
good faith duty, breach, 13.3.2
invalid security interests, 3.10
credit property insurance, 3.10.1
filing fees, unnecessary, 3.10.2
improper enforcement, 3.10.5
nonfiling insurance, 3.10.2
overinclusive collateral description, 3.10.3
threats to enforce, 3.10.4
lien claimants, unauthorized actions, 15.14
redemption tender, refusal, 9.3.8
reinstatement violations
generally, 9.2.4
RTO transactions, 14.3.6
replevin, see REPLEVIN ACTIONS
repossessed collateral, use by creditor, 10.3.2
repossession cases, generally, 13.1
see also WRONGFUL REPOSSESSION REMEDIES
handling repossession cases, 1.3
repossession sales
conversion actions, 13.6.2.1, 13.6.2.2
improper notice, 10.4.12
insider sales, 11.3.5.4
UCC noncompliance, 12.6
RICO claims, 13.4.4
right to cure violations, 4.5.2.4
right to reinstate violations, 9.2.4
RTO, failure to reinstate, 14.3.6
sales-related claims, 13.9.1, 13.9.2
leases, 14.2.11.3
state law, 13.5.2, 13.5.4, 13.5.5, 13.5.6
strict foreclosure, improper, 9.4.2
surplus
failure to pay, 11.1.2.3
failure to provide explanation, 11.2.3
tort, see TORT CLAIMS
UCC
actual damages, 13.2.3, 13.2.7
Article 2A violations, 2.3.1.1, 14.1.3.1
Article 9 violations, 2.2.2, 12.6
class actions, 13.2.6.1
generally, 13.2.1
good faith violations, 13.3
injunctive relief, 13.2.2
statute of limitations, 13.2.8
statutory damages, 13.2.4, 13.2.6, 13.2.7
supplemental damages, 13.2.5
UDAP, see UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
unearned interest, failure to rebate, 11.3.2.2.4
unfair creditor remedies, 13.4.3.3
unsecured personal property, seizure, 7.4
wrongful replevin, 5.5.2.3
wrongful repossessions, see WRONGFUL REPOSSESSION REMEDIES
unconscionability, see UNCONSCIONABILITY
RENT-TO-OWN (RTO) TRANSACTIONS
see also PERSONAL PROPERTY LEASES
analyzing the case, 1.4.13
automobiles, 14.2.1.1, 14.2.1.4
bankruptcy, effect, 8.10, 14.3.5.6
CLA, application, 14.3.4
lease status, 14.3.2.2
liability after repossession, 14.3.7
military personnel, 14.3.5.5
overview, 14.3.1
reinstatement, 14.3.6
repossession restrictions, 14.3.5
liability for breach, 14.3.5.3
right to cure, 14.3.6
security interest, creation, 2.2.4.6, 14.1.2.3.3, 14.3.2.2
state law, 2.3.2.1, 2.3.3.11, 14.1.3.3, 14.3.2.1, 14.3.3, 14.3.5.4
TILA, application, 14.3.4
UCC Article 2A, application, 2.2.4.6, 14.3.1, 14.3.3.3
UCC Article 9, application, 2.2.4.6, 14.3.2
UDAP remedies, 14.3.5.2, 14.3.7
unconscionability, 14.3.3.3, 14.3.7
website, 14.3.1
REPAIR
see RECONDITIONING
REPAIRER’S LIENS
see also GARAGEMEN’S LIENS; LIENS; MECHANIC’S LIENS; STATUTORY LIENS
auto repair lenders, 15.8.3
consent to services, 15.7.2
value of repairs, determination, 15.5.4
warranty repairs, 15.5.4
REPLEVIN ACTIONS
see also REPOSSESSIONS; SEIZURE
appeals of denial, 5.4.3.6
arbitration clauses, effect, 5.5.2.2, 13.11.3.2.11
attorney fees, 5.4.3.7
bankruptcy discharge, after, 5.2.5
bankruptcy stay, 8.2.4.1
bonds, 5.4.4, 13.6.12
creditor’s bond, 5.4.4.1
debtor’s counter-bond, 5.4.4.2
breach of contract counterclaims, 4.4.3.3
burden of proof, 5.4.3.6, 5.5.2.1
collateral
disposal by creditor, 5.5.3
retention pending trial, 5.4.4.2
complaint, filing, 5.4.2.5, 5.4.3.4
consent to seizure in agreement, 5.4.2.8
constitutional challenges, 2.3.3.2, 5.4.1, 5.4.2.3, 5.4.2.9.1, 13.7.2
conversion, relationship, 5.2.6, 5.5.2.3
counterclaims
available counterclaims, 5.5.2.2
judicial consideration, 4.4.5, 5.4.3.6
debtor strategies, 5.2.8
counter-bond, 5.4.4.2
reinstatement, 5.5.1
debtor’s replevin, 13.6.12
defending, 5.5.2.1
elements of replevin action, 5.2.3
equitable principles, application, 5.2.1
ex parte writs of replevin
constitutionality, 5.1, 5.4.1.2, 5.4.2.3, 5.4.2.9.1
procedural requirements, 5.4.2
state law, 5.4.2.2, 5.4.2.9.2
hearings
burden of proof, 5.4.3.5
counterclaims, raising, 4.4.5, 5.4.3.6
defenses, raising, 5.4.3.6
post-seizure, 5.4.2.7, 5.4.3
right to, 5.4.1.2, 5.4.2.7, 5.4.3.2
waiver, 5.4.2.8
jurisdictional challenges, 5.4.3.3
lien claimants, against, 15.14.1
manufactured homes, 5.3
nature of, 5.2.1
overview, 5.2
procedures
overview, 5.2.4
strict compliance, 5.2.2
relief available, 5.2.5
seizure of collateral by sheriff, 5.2.9
self-help repossession alternative, 5.2.1
state law, 2.3.3.9
statute of limitations, 5.2.3
trial on merits, 5.5
avoiding through reinstatement, 5.5.1
defenses and counterclaims, 5.5.2
timely pursuit, 5.5.3
UCC Article 9, relationship, 5.2.7
use by creditors, circumstances, 5.2.1
voidable obligation defense, 4.4.1
writ of replevin, see WRIT OF REPLEVIN
wrongful, remedies, 5.5.2.3
wrongfully seized property, return, 13.6.12
REPOSSESSED PROPERTY
see also COLLATERAL; REPOSSESSIONS
abandonment or destruction, 12.5.6
bankruptcy turnover, 8.2.4.2, 8.2.5, 8.2.6.1, 8.3
creditor’s duties
automobile title loans, 3.8.7.5, 3.8.7.6
disposal, 10.1.1
electronic repossessions, 6.6.2.2
reconditioning, 10.3.3
safeguarding, 10.3.1, 12.9.3.4.2
use of collateral, 10.3.2, 12.5.5
deficiencies, see DEFICIENCY ACTIONS
demands for return, effect on right to speedy sale, 10.5.1
deterioration, 10.3.1
disposal
analyzing the case, 1.4.8
assignment of title, 10.1.3
creditor obligation, 10.1.1
leases, 10.1.2
licenses, 10.1.3
notice requirements, 10.4
other dispositions, 10.1.3
reasonable practices, 10.7.4.3
sale, see REPOSSESSION SALES
impairment, release of surety, 12.9.3.4.2
information regarding, 10.4.11.9
redemption amount, 10.4.11.8
judicial sales, see JUDICIAL SALES
leased vehicles, lessor’s obligations, 14.2.5
ownership, 9.3.3
possible dispositions, 9.1
redemption, see REDEMPTION
reinstatement of contract, see REINSTATEMENT
replevin actions, 13.6.12
retention by creditor, see STRICT FORECLOSURE
RTO, liability, 14.3.7
sale by creditor, see REPOSSESSION SALES
sale by debtor, see SALES BY DEBTOR
surplus, see SURPLUSES
unsecured property, see UNSECURED PERSONAL PROPERTY
wrongful, see WRONGFUL REPOSSESSION REMEDIES
REPOSSESSION AGENCIES
see PROFESSIONAL REPOSSESSORS
REPOSSESSION SALES
actual knowledge by debtor, effect, 10.4.5.2
appraisals, need for, 10.8.8
analyzing the case, 1.4.7, 1.4.8
automobile title loans, 3.8.7.6, 3.8.7.7
bankruptcy, avoidance, 8.4.6.4
bankruptcy stay, 8.2.2.1
commercial reasonableness, see COMMERCIAL REASONABLENESS
creditor’s duties toward collateral prior to, 10.3
dealers only auctions, 10.7.2.1, 10.7.4
defective disposition, 12.6
deficiencies, see DEFICIENCY ACTIONS
electronically disabled collateral, 6.6.2.6
expenses, consumer liability, 11.3.6.3
highest offer, 10.8.3
injunctive relief, 13.2.2
pattern of noncompliance, 11.2.3
sample complaint, Appx. D.3
insider sales, see INSIDER SALES
inspection of collateral prior to sale, 10.8.7
judicial sales, see JUDICIAL SALES
leased vehicles, 14.2.5
low sale price, 10.9
wholesale disposition, 10.7.2
manner of sale, 10.6
non-arm’s length, see INSIDER SALES
notice after self-help seizure, 6.5.2
notice of sale, 10.4
see also NOTICE
content, 10.4.11
exceptions few, 10.4.5
importance, 10.4.1
manner of sending, 10.4.4
sent but not received, 10.4.9
standard of accuracy, 10.4.11.11
timing of notice, 10.4.8
violations, remedies, 10.4.12
waiver of notice, 10.4.7
who must receive, 10.4.6, 10.4.10
who must send, 10.4.2
written requirement, 10.4.3
yo-yo sales, 4.6.3.2
perishable goods, 10.4.5.3
private sales, see PRIVATE SALES
proceeds, credit to debtor, 11.3.4
public sales, see PUBLIC SALES
purchase by debtor as alternative to redemption, 9.3.1
purchase by secured party, 10.10.1, 10.10.2, 11.3.5, 12.5.4
purchasers’ rights, 10.11
rapidly depreciating goods, 10.4.5.3
recognized market, 10.4.5.3
redemption prior to, time, 9.3.5
repurchase agreements, 10.10.4
sale price, see SALE PRICE
sixty percent (60%) rule, 9.4.2, 10.5.1
surpluses, see SURPLUSES
timing of sale
excessive delay, 10.5.2, 12.5.7
notice, 10.4.11.6
premature, 10.4.11.6
rushed sale, 10.5.3
state law, 12.5.7
unreasonable date, 10.5.3
unreasonable delay, 10.5.1
type of sale
burden of proof, 10.4.11.4
commercial reasonableness, 10.7
creditor’s right to choose, 10.7.1
determining, 10.6, 10.10.1
notice, 10.4.11.4
private or public, 10.6
wholesale dispositions, 10.7.2, 10.7.3
UCC Article 9 basics, 2.2.2
valid sale under UCC, 11.3.4.2
wholesale dispositions, see WHOLESALE DISPOSITIONS
wrongful, conversion actions, 13.6.2.1, 13.6.2.2
yo-yo transactions, 4.6.3.5
REPOSSESSIONS
acceleration notice, requirements, 4.1.6
acceleration prior to, 4.1.3
accommodation parties, by, 12.9.7
actions on the debt
alternative, 10.5.1
election of remedy, 12.4.1
simultaneous, 12.2.2
additional collateral, 6.3.1
advising the client, 1.4.2
analyzing the case, 1.4
applicable law, 1.4.3
automobile leases
analyzing the case, 1.4.13
applicable law, 14.2.1
breach of peace, 14.2.4
default leading to, 14.2.2
bailors, 2.3.4.2.3
bankruptcy forum, importance, 8.1.1
bankruptcy stay
see also BANKRUPTCY
generally, 8.2, 13.8
choice of law, 2.4
churning schemes, see REVOLVING REPOSSESSION SCHEMES
CLA, application, 2.3.3.3
consent in credit agreement, 5.4.2.8
consignment goods, 9.6.4
constructive repossession, 6.6.2.2
consumer credit laws, application, 2.3.2, 13.5.4
consumer’s obligation extinguished, 4.4.1
credit insurance, creditor’s obligations, 4.2.1, 6.5.3
creditor’s agreement not to, 6.5.3
default precondition, 4.1.1
assignee’s right to declare, 4.1.2
discovery, sample, Appx. E
election-of-remedy statutes, 12.4.1
electronic repossessions, see ELECTRONIC REPOSSESSIONS
expenses, see EXPENSES
false threats, see FALSE THREATS
FDCPA, application, 2.3.3.5, 13.5.1
fees, see EXPENSES
handling a repossession case, 1.3
household goods, 3.3.2
importance of cases, 1.3.1
insurance policies, cancellation, 11.3.3.3
invalid security interests, 3.10.5
judicial procedures, see REPLEVIN ACTIONS
leases property, 1.4.13
military personnel, 6.3.5.1
manufactured homes, 5.3
ground leases, effect, 5.3.7
OCC regulations, 4.5.3.1
special issues, 1.4.12
NCLC treatise, 1.1
online materials, 1.1.1
organization, 1.1.4
pleadings, 1.1.5, Appx. D
scope, 1.1.2, 1.1.3
unreported cases, 1.1.6
out-of-state creditors, 13.11.1
perfected security interest rules, application, 3.2.9
pleadings, see PLEADINGS
practice specialization, 1.3.2
real property, see FORECLOSURES
redemption after, see REDEMPTION
reinstatement after, see REINSTATEMENT
replacement or substitute property, 3.4.2
replevin procedures, see REPLEVIN ACTIONS
representing client prior to, 6.2
resisting, 5.2.9, 6.2.4
revocation of acceptance after, 4.4.2.3, 12.3.4
revolving schemes, see REVOLVING REPOSSESSION SCHEMES
right to cure prior to, see RIGHT TO CURE
RTO goods, 14.3
Article 9 application, 14.3.2
restrictions, 14.3.5
security interest precondition, 3.1
self-help procedures, see SELF-HELP REPOSSESSIONS
sources of law, 2.3.2
state law preemption, 2.5.3
state law summaries, Appx. B
store credit card purchases after bankruptcy, 8.8.2
strict foreclosure, see STRICT FORECLOSURE
third party transfers to avoid, 3.4.3.1
threats, see THREATS
TILA, application, 2.3.3.3, 13.5.3
trespass during, see TRESPASS
UCC Article 9, see UCC ARTICLE 9 (SECURED TRANSACTIONS)
UDAP, application, 13.4.2
unearned interest rebates, application, 11.3.2.2.1
unfair or deceptive practices, 13.4.3
voluntary surrender before, see VOLUNTARY SURRENDER OF COLLATERAL
waiver of notice, unconscionability, 4.1.7.4
wrongful repossessions, see WRONGFUL REPOSSESSION REMEDIES
yo-yo sales, 4.6.3
REPOSSESSORS
see PROFESSIONAL REPOSSESSORS
REPURCHASE AGREEMENTS
disposition status, 10.10.4.1
insider status, 10.10.4.1, 11.3.5.2, 11.3.5.3
notice of sale, effect, 10.10.4.2
transfers pursuant to, 10.10.4
notice requirements, 10.4.2
REQUEST FOR ADMISSIONS
see DISCOVERY
RESCISSION AND SATISFACTION
doctrine of, 12.5.9.5
RESCISSION (TILA)
see also TRUTH IN LENDING ACT (TILA)
non-purchase-money security interests in principal dwelling, 13.5.3
scope, 2.3.3.3
RESEARCH AIDS
see RESOURCE AIDS
RESIDENCES
entry by creditor, 6.3.3, 6.4.6.3
principal, see PRINCIPAL RESIDENCES
RESIDUAL VALUE
automobile leases
defined, 14.2.6.2
early termination formulas based on, 14.2.6.5
excessive, 14.2.8
importance of calculation, 14.2.8.1
inflated residual value, 14.2.8.3
manufacturer “supported” residual values, 14.2.8.4
realized value must exceed, 14.2.8.2
RESOLUTION TRUST CORPORATION (RTC)
deficiency actions by, defenses, 12.10
RESOURCE AIDS
see also CASE LAW; PRACTICE TIPS
bankruptcy, 1.2.3, 2.3.3.7, 8.1.2
CLA, 2.3.3.3
Clearinghouse citations, 1.1.6
FDCPA, 2.3.3.5
market value, 10.9.5.1
NCLC materials, 1.1
bankruptcy law, 1.2.3
consumer credit laws, 1.2.2
credit math software, 1.1.5
online materials, 1.1.1, 1.1.5, 1.1.6
pleadings, 1.1.5, Appx. D
UCC law, 1.2.1
unreported decisions, 1.1.6
primary sources, 1.1.5
state law
consumer credit laws, 1.2.2
debt collection laws, 2.3.3.6
foreclosures, 2.3.3.10
summaries, Appx. B
TILA, 2.3.3.3
tort claims, 2.3.4.1
UCC
conversion tables, Appx. A.5.2
interpretation, 1.2.1
selected provisions, Appx. A
state variations, 2.2.1, Appx. B
UCCC, 1.2.2
web resources, see WEB RESOURCES
RESTORATION
see RECONDITIONING
RESTRAINING ORDERS
see INJUNCTIVE RELIEF
RETAIL INSTALLMENT SALES ACTS (RISA)
see also CONSUMER CREDIT STATUTES (STATE); MOTOR VEHICLE INSTALLMENT SALES; RETAIL INSTALLMENT SELLERS
acceleration restrictions, 4.2.2.3
default restrictions, 4.2.7
electronic disabling devices, application, 6.6.4.6
remedies, 13.5.4
right to cure provisions, 4.5.2.1
RTO, application, 14.3.3
scope, 2.3.2.1, 2.3.2.3
security interests created by credit card
noncompliance, effect, 3.9.4, 3.9.5
payment allocation requirements, 3.9.4
prohibitions, 3.9.5
violations, per se UDAP violation, 13.4.3.2, 13.5.4
RETAIL INSTALLMENT SELLERS
see also CREDIT SALES; CREDITORS; DEALERS; MERCHANTS; MOTOR VEHICLE INSTALLMENT SALES; RETAIL INSTALLMENT SALES ACTS (RISA)
assignment of contract, effect on repossession rights, 6.3.1
FTC Credit Practices Rule, application, 3.3.4.3
RETAIL SALES
see PRIVATE SALES; PUBLIC SALES
RETAILERS
see MERCHANTS
REVOCATION OF ACCEPTANCE
after repossession, 4.4.2.3, 12.3.4
before repossession, 4.4.2.1, 4.4.2.2
debt obligation extinguished, 4.4.2.1
deficiency action defense, 12.3.4
possessory security interest, 4.4.2.2
replevin action defense, 5.4.3.6
retention of collateral, 4.4.2.2
security interests, effect, 4.4.2
REVOLVING REPOSSESSION SCHEMES
see also REPOSSESSIONS
low sale prices
sham public sales, 10.9.4
wholesale dispositions, 10.7.2.2
overview, 10.10.5
sample class action complaint, Appx. D.5
unfair or deceptive practices, 13.4.3.1
RICO CLAIMS
wrongful repossessions, 13.4.4
RIGHT OF REDEMPTION
see REDEMPTION
RIGHT TO CURE
see also DEFAULT
acceleration notice, waiver override, 4.1.7.3
automobile leases, 14.2.3
automobile title loans, 3.8.7.4
bankruptcy, long-term debts, 8.6.3
electronic disablement, effect, 6.6.2.4.1
electronic notice, 4.5.2.3
E-Sign, 4.5.2.3.2
generally, 4.5.2.3.1
UETA, 4.5.2.3.3
manufactured home first mortgage loans, 4.5.3
application of rule, 4.5.3.1, 4.5.3.2
bankruptcy situations, 8.6.3
DIDA incentives, 4.5.3.1
obfuscating provisions, effect, 4.5.3.4
operation of rule, 4.5.3.3
notice requirements
electronic notice, 4.5.2.3
state law, 4.5.2.2
overview, 4.5.1
right to reinstate, distinguished, 4.5.1, 9.2.1
RTO transactions, 14.3.6
state rights, 4.5.2
electronic notices, 4.5.2.3
generally, 4.5.2.1
noncompliance implications, 4.5.2.4
notice requirements, 4.5.2.2
time to cure, notice, 4.1.7.3
voluntary grant by creditor, 4.5.4
yo-yo sales, 4.6.3.4
RIGHT TO REINSTATE
see REINSTATEMENT
ROOKER-FELDMAN DOCTRINE
federal review of state-court proceedings, 13.4.4
RULE OF 78
unearned interest rebates, 11.3.2.2.2
SALE OR RETURN
goods for, former UCC provisions, 9.6.4
SALE PRICE
see also MARKET VALUE
commercial reasonableness, 10.9
determining reasonable price, 10.9.5
deficiency, evidential effect, 12.6.1.4, 12.6.3.1
determination, 11.3.4
multiple items sold, 11.3.4.3
trade-in adjustments, 11.3.4.4
inadequate as fraudulent conveyance, 8.4.6.4
insider sales, 10.9.4, 10.10.3, 11.3.5
leased vehicles, use to determine default liability, 14.2.5, 14.2.8.5
low sale prices, 10.9.1–10.9.4
churning schemes, 10.7.2.2
dealer only auctions, 10.7.4
wholesale dispositions, 10.7.2
market value, 10.9.5.1, 10.9.5.2, 10.9.5.3
negative equity trade-in as part of, 8.7.3.2
pricing guides, use, 10.9.5.1
purchaser’s resale price, 10.9.5.2
valid sales, 11.3.4.2
wholesale dispositions, 10.7.2.1, 10.7.2.2
SALE/LEASEBACK TRANSACTIONS
applicability of UCC Article 9, 2.2.4.2
SALES
see also THIRD PARTY TRANSFERS
commercially unreasonable, see COMMERCIAL REASONABLENESS
commissions, see SALES COMMISSIONS
debtor, by, see SALES BY DEBTOR
judicial, see JUDICIAL SALES
lien, see LIEN SALES
price, see SALE PRICE
proceeds, see PROCEEDS
repossession, see REPOSSESSION SALES
SALES BY DEBTOR
see also THIRD PARTY TRANSFERS
consignment sales, 9.6.4
creditor’s involvement, 9.6.2
creditor’s permission, 3.4.3.1, 6.2.1, 9.6.1
refusal of permission, 9.6.3
generally, 9.6.1
liability for debt after, 9.6.1
notice of sale, entitlement, 10.4.6.3
proceeds, secured party’s interest, 3.4.2, 3.8.5
security interest, continued enforcement, 3.4.3
automatically perfected interests, 3.4.3.3
perfected interests, 3.4.3.4
unperfected interests, 3.4.3.2
SALES COMMISSIONS
reasonable selling expense, 11.3.6.3
SAVINGS AND LOAN INSTITUTIONS
see FEDERAL LENDING INSTITUTIONS
SEARCH AND SEIZURE
see also CONSTITUTIONAL ISSUES
replevin procedures
Fourth Amendment, 5.4.1.3
state law, 5.4.1.4
self-help repossessions
Fourth Amendment, 6.3.6.4
state law, 6.3.6.6
SECURED PARTIES
see CREDITORS
SECURED PROPERTY
see COLLATERAL
SECURITIZATION
correct plaintiff
deficiency actions, 12.8.1
leases, collection actions, 14.2.11.2
revised Article 9, application, 2.2.4.5.2, 2.2.4.8.1
SECURITY AGREEMENTS
see also DEBT OBLIGATION; MORTGAGES; SECURITY INTERESTS
accidental omissions, 3.2.4, 3.2.7.3
adhesive, see ADHESION CONTRACTS
amendments, validity, 3.2.4, 3.2.7.3
anaconda clauses, 3.6.1
antecedent debt clauses, 3.6
anti-waiver provisions, 4.3.4
arbitration clauses, see ARBITRATION
assignment, effect, 3.4.4, 4.1.2, 4.2.1, 12.3.2
authentication, 3.2.2.1, 3.2.3
bankruptcy cramdown, 8.6.2
blanks, 3.2.4, 3.2.7.3
collateral, identification, 3.2.1.1, 3.2.7
contingent sales, 4.6.2
cross-collateral clauses, 3.7.2
default definition, 4.1.2, 4.2.7
defined, 3.2.2.2
dragnet clauses, 3.6.1
electronic documents, 3.2.2.1
future advance clauses, 3.6
grant of security interest, specificity, 3.2.2.2
invalid interests, inclusion, remedies, 3.10
manufactured homes, right to cure, infringement, 4.5.3.4
modification by signed agreement, 4.3.1.2, 4.3.4
necessity, 3.2.1
no oral modification clause, 4.3.1.2, 4.3.4
oral changes, 3.2.4
payment allocations, 3.7.4
personalty and realty, 2.2.4.5.3
preexisting debt clauses, 3.6.1
refinancings, effect, 3.5
reinstatement, see REINSTATEMENT
repossession consent, 5.4.2.8
requirement for valid security interest, 3.2.1
signature requirements
amendments or changes, 3.2.4
authentication of agreement, 3.2.3
generally, 3.2.1.1, 3.2.3.1
ownership or rights, 3.2.6
valid signature, 3.2.3.2
store credit cards
bankruptcy, effect, 8.8.2
payment allocations, 3.9.4
records, production, 3.9.2.2, 8.8.2.1
UCC requirements, 3.9.2.1
UDAP violations, 13.4.3.3
unchecked boxes, 3.2.4, 3.2.7.3
unfair provisions, FTC tests, 4.1.7.4, 13.4.3.3
unsecured property seized with collateral
contractual waivers, 13.10.3
disclaimers violating state law, 7.5.3
FMCC-type disclaimers, 7.5.2
GMAC-type disclaimers, 7.5.1
usurious, effect, 4.4.1
void or voidable, 4.4.1
written requirements, 3.2.2.1
wrongful repossession waivers, 7.5, 13.10.2, 13.10.3
SECURITY DEPOSITS
interest on, 14.2.9.7
SECURITY INTERESTS
see also SECURITY AGREEMENTS; UCC ARTICLE 9 (SECURED TRANSACTIONS)
accessions, 3.8.4
after-acquired property, 3.3.7.2, 3.4.6, 3.8.4
analyzing a repossession case, 1.4.4
assignment, 3.4.4
automobile leases, 14.2.1
automobile title loans, 3.8.7
automobiles, 3.8
bailment distinguished, 2.3.4.2.5
bankruptcy filings
allowed secured claims, 8.6.1
automatic stay, 8.2.4.2
avoidance of lien, 8.4.3, 8.4.7
forum, litigating in, 8.1.1
certificate of title
evidencing on, 3.8.2.1
retention of certificate, 3.8.2.2
common law interests, 2.3.4.3
composite document rule, 3.2.2.2
consignment inventory, 9.6.4
consolidations, see under CONSOLIDATION OF DEBTS
creation, intention not form, 2.2.4.2
defined, 2.2.4.1, 4.4.2.2.1, 8.4.6.1, 14.1.2.2, 14.3.2.2
deposit accounts, 2.2.4.3.2
description, 3.2.7.1, 3.2.7.2
disclosure, TILA requirements, 3.2.7.4
elements of validity, 3.2
authentication of agreement, 3.2.3
basic requirements, 3.2.1.1
collateral identification, 3.2.7
debtor rights in collateral, 3.2.6
perfection not necessary, 3.2.9
prohibition through other law, 3.2.8
signature requirements, 3.2.3
specific grant, 3.2.2.2, 3.2.2.3
UCC Article 9 minimum standards, 3.2.1
unchecked boxes, blanks, amendments, 3.2.4
value given, 3.2.5
written or electronic document, 3.2.2.1
enforceability
after-acquired property, 3.3.7.2
analyzing, 1.4.4
Article 9 basics, 2.2.2
automobile title loans, 3.8.7.3
continued enforceability, 3.4
creation, 3.2
illegal interests, 3.3.4.5
extinguishment of obligation, effect, 3.4.5
federal lenders, 2.5
fixtures, 3.3.4.2.3
foreclosure sales, extinguishment, 10.11
FTC Credit Practices Rule, 3.3.4
impairment, acceleration, 4.2.2
invalid interests, 3.10
credit property insurance on, 3.10.1
disclosure violations resulting from, 3.10.3
enforcement by creditor, 3.10.5
threats of enforcement, 3.10.4
unnecessary fees charged, 3.10.2
leases creating, 14.1.1, 14.1.2, 14.2.1
leases distinguished, 2.2.4.6, 14.1.2.3
liens, distinction, 2.2.4.4, 15.1
loan securitization, see SECURITIZATION
manufactured homes, 3.8, 5.3
non-purchase-money, see NON-PURCHASE-MONEY SECURITY INTERESTS
open-end leases as, 14.2.1.3
perfection, see PERFECTION OF SECURITY INTERESTS
pledges, 2.3.4.3
possessory interests, see POSSESSORY SECURITY INTERESTS
precondition to seizure of personal property, 3.1
prior paid off purchases, 3.7.3
proceeds of collateral, 3.4.2
property secured, see COLLATERAL
purchase-money, see PURCHASE-MONEY SECURITY INTERESTS
real property, see MORTGAGES; TAX LIENS
realty and personalty interests, 2.2.4.5.3
refinancings, see under REFINANCINGS
revocation of acceptance, effect, 4.4.2
right to enforce, 12.8.1
RTO transactions, creation, 2.2.4.6, 14.3.2.2
state law restrictions, federal preemption, 2.5.4
store credit card issuers, 3.9
substitute or replacement property, 3.4.2
termination statement, 4.4.2.2.1
TILA disclosure as grant, 3.2.2.3
transfers of collateral, 3.4.3
UCC Article 9
application, 2.2.4
basics of Article 9, 2.2.2, 3.2.1.1
usurious agreements, 4.4.1
yo-yo sales, 4.6
SEIZURE
see also REPOSSESSIONS; SEARCH AND SEIZURE; SELF-HELP REPOSSESSIONS
attachments, see ATTACHMENTS
electronic disabling without intent to seize, 6.6.2.2
expenses, consumer liability, 11.3.6.1
security interest precondition, 3.1
unsecured property along with collateral, Ch. 7
writ of replevin, under, 5.2.9
SELF-HELP REPOSSESSIONS
see also REPOSSESSIONS
analyzing the case, 1.4.6
arbitration clauses, application, 13.11.3.2.11
bankruptcy stay, 8.2, 6.6.2.3.3
bars
electronic repossession, application, 6.6.2.3.2
exempt property, 6.3.4
generally, 6.3.1
manufactured homes, 6.3.3
protected debtors, 6.3.5, 6.6.2.3.2
state law, 6.3.2, 6.6.2.3.2
breach of the peace, 6.4, 13.10.4.2.1
civil rights actions, 2.3.3.2
consent by debtor, effect, 13.10.1
creditor’s agreement not to, 6.5.3
criminal violations, 6.5.5
deception and trickery, 6.4.8
denial of permission, effect, 6.2.4.2
due process considerations, 6.3.6
sufficient state action, 6.3.6.1–6.3.6.3
state constitutions, 6.3.6.6
violations, remedies, 6.3.6.5
electronic repossessions, see ELECTRONIC REPOSSESSIONS
electronic tracking devices, 6.6.1, 6.6.4.8
evidence, retaining, 6.2.2
false threats, 6.2.3
government as creditor, 6.3.6.2, 13.7.1
law enforcement officials
misrepresentation of involvement, 6.4.7, 6.4.8
presence, 6.3.5.1.7, 6.3.6.3, 6.4.7
licensing requirements, 6.5.4
lienholders, 15.8.2
method of seizure, 6.5.1
manufactured homes, 6.3.3
military personnel, 6.3.5.1.3, 6.6.2.3.2, 14.2.2.5.1
Native Americans, 6.3.5.2, 6.6.2.3.2
notice, 6.5.2
overview, 6.1
privacy concerns, 6.6.4.8
refinancing alternative, 6.2.2
replevin action alternative, 5.2.1
representing client prior to, 6.2
resisting or hindering
breach of the peace, 6.4.4
civil liability, 6.2.4.3
risk of prosecution, 6.2.4.2
when to object, 6.2.4.1
restrictions
bars, 6.3, 6.6.2.3.2
breach of peace, 6.4, 13.10.4.2.1
other, 6.5, 6.6.2.4
search and seizure
fourth amendment issues, 6.3.6.4
street, driveway or garage, 6.4.6.2
state constitutional issues, 6.3.6.6
state law
exempt property, 6.3.4
manufactured homes, 6.3.3
military personnel, 6.3.5.1.6, 6.3.5.1.8
prohibitions, 6.3.2, 6.6.2.3.2
trespass during, see TRESPASS
voluntary surrender, 6.2.1
wrongful, remedies, see WRONGFUL REPOSSESSION REMEDIES
yo-yo transactions, 4.6.3.2
SEQUESTRATION
see REPLEVIN ACTIONS
SERVICEMEMBERS CIVIL RELIEF ACT
default and acceleration protections, 4.2.6, 6.3.5.1.3, 6.3.5.1.4
interest rate protections, 4.2.6, 6.3.5.1.5
judicial repossessions, application, 6.3.5.1.4
lessee protections, 14.2.2.5, 14.2.9.5
lien sale restrictions, 6.3.5.1.3, 15.11.3
overview, 2.3.3.4, 6.3.5.1.1
RTO transactions, application, 14.3.5.5
scope, 6.3.5.1.2
dependents, application, 6.3.5.1.3
selected provisions, Appx. C.3
self-help repossessions, protections, 4.2.6, 6.3.5.1.3, 14.2.2.5.1
electronic repossessions, 6.6.2.3.2
RTO transactions, 14.3.5.5
violations, remedies, 6.3.5.1.6, 15.11.3
SET-OFFS
see also COUNTERCLAIMS
bankruptcy stay, 8.2.4.3
consumer counterclaims, 4.4.5, 13.9
deficiency actions, UCC noncompliance, 12.6.4
payments against damages for breach of contract, 4.4.3
seller-related claims, 13.9.2
statutory damages, 13.2.8.1
SETTLEMENTS
considerations, 13.11.5
SEVENTY EIGHT (78), RULE OF
see RULE OF 78
SHERIFFS
see also CUSTODIANS; LAW ENFORCEMENT OFFICIALS
bankruptcy, turnover of repossessed property, 8.3.1
impersonation, 6.2.4.1
sales by, see JUDICIAL SALES
writ of replevin, enforcement, 5.2.9, 6.2.4.1
SIGNATURES
security agreements, 3.2.3
creditor’s failure to sign, effect, 4.6.2.2
electronic signatures, 3.2.3.2
requirement, 3.2.3.1
owner’s signature, 3.2.6
SIXTY PERCENT (60%) RULE
sale of collateral, 9.4.2, 10.5.1
surpluses, protection, 11.1.2.2
SOLDIERS’ AND SAILORS’ CIVIL RELIEF ACT
see SERVICEMEMBERS CIVIL RELIEF ACT
SPORTS EQUIPMENT
see CONSUMER GOODS
SPOT DELIVERY
see YO-YO TRANSACTIONS
SPOUSES
see ACCOMMODATION PARTIES; DEBTORS
SPREADER PROVISIONS
see CROSS-COLLATERAL CLAUSES
STANDING
accommodation parties, 13.2.4.4
wrongful repossession actions, 13.2.4.4
STATE ACTION
see also DUE PROCESS
bankruptcy stay violations, 8.2.6.2
due process violation, necessity, 13.7.1
lien sales, 15.13.1
self-help repossessions, 6.3.6
government as creditor, 6.3.6.2, 13.7.1
government officials, assistance, 6.3.6.3, 13.7.3.3
police officer, use, 6.4.7, 13.7.3.4
sufficient, 6.3.6.1–6.3.6.3
sovereign immunity, 13.7.3.2
STATE LAW
acceleration restrictions, 4.2.2.3, 4.2.3, 4.2.7
accommodation party protections, 12.9.6.2
anti-deficiency statutes, see ANTI-DEFICIENCY STATUTES
Article 9, preemption, 2.3.2.2
automobile leases, 14.2.2.4
automobile title loans, 2.3.2.1, 3.8.7
choice of law, 2.4
consumer credit statutes, see CONSUMER CREDIT STATUTES (STATE)
consumer leasing, 2.3.3.11, 14.1.3.3, 14.2.10.3
CLA, relationship, 14.2.10.4
contingency clauses, 4.6.2.3
credit card security interests, 3.9.5
creditor exercise of multiple remedies, 12.2.2.2.2
creditor liability for repossessor, 13.10.4.2.3
cross-collateral clauses, 3.7.2
debt collection laws, 2.3.3.6, 13.5.2
electronic repossessions, application, 6.6.4.1
deceptive practices statutes, see UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
default grounds, restrictions, 4.2.1, 4.2.7
deficiency actions
attorney fees, 11.3.6.4.3, 11.3.6.4.4
anti-deficiency statutes, 12.4
procedural requirements, 12.8.3
special notice, 12.8.2
UCC noncompliance effect, 12.6.5
electronic repossession, 6.6.2.3.2, 6.6.3
federal preemption, see PREEMPTION OF STATE LAW
foreclosures, 2.3.3.10
FTC rule violations, 3.3.4.5
household goods, protections, 3.3.5
installment sales, see RETAIL INSTALLMENT SALES ACTS (RISA)
insurance rebates, 11.3.3.3
invalid security interests
enforcement threats, 3.10.4
unfair practices, 3.10.3
lease repossessions, 14.2.2.4
liens, 2.3.3.8, 15.3, 15.11.2, 15.14.5
manufactured home security interests
credit transaction treatment, 5.3.4
other statutes, 5.3.5
title-purging statutes, 5.3.3
military service, protections, 6.3.5.1.8
NCLC treatise, scope, 1.1.3
non-purchase-money security interests, 3.3.5, 3.5.4
preemption, see PREEMPTION OF STATE LAW
professional repossessors, 6.5.4, 13.5.5
realty and personalty security, application, 2.2.4.5.3
redemption rights, 9.3.1, 9.3.8
reinstatement rights, 9.2
RTO transactions, 2.3.2.1, 14.3.3
replevin procedures, 2.3.3.9, 5.4.1.4, 5.4.2.2, 5.4.2.4
repossession cases, application, 1.4.3
repossession sales
notice timing, 10.4.8.2
timing of sale, 12.5.7
repossessions, 2.3.2.1
federal preemption, 2.5.3
self-help repossessions, 6.6.2.3.2
servicemembers, 6.3.5.1.8
summary, Appx. B
research aids
consumer credit laws, 1.2.2
debt collection laws, 2.3.3.6
foreclosures, 2.3.3.10
repossession laws, Appx. B
right to cure
generally, 4.5.2.1
notice requirements, 4.5.2.2
violations, 4.5.2.4
RISA, see RETAIL INSTALLMENT SALES ACTS (RISA)
RTO transactions, 2.3.3.11, 14.3.2.1, 14.3.3
security interest restrictions, 2.5.4, 3.9.5
self-help repossessions
exempt property, 6.3.4
manufactured homes, 6.3.3
military personnel, 6.3.5.1.6, 6.3.5.1.8
prohibitions, 6.3.2, 6.6.2.3.2
small loans, 2.3.2.1
summary of state repossession laws, Appx. B
surplus after sale, 11.1.2.2
title-purging statutes, 5.3.3
UCC Article 2A preemption, 14.1.3.1
UCC variations, 2.2.1, Appx. B
UDAP, see UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
unearned interest rebates, 11.3.2.2.1
unlawful repossessions, 3.10.5
unsecured personal property, seizure, 7.4.3, 7.5.3, 7.6
violations, per se UDAP violation, 13.4.3.2
wrongful repossession remedies, 13.5.2
STATEMENT OF ACCOUNT
fees, 10.4.11.5
notice of entitlement, 10.4.11.5
redemption amount, 9.3.6.2
telephone number to learn amount, 9.3.5, 9.3.6.2
surplus or deficiency, 11.2
STATUTE OF LIMITATIONS
see also TIME LIMITS
CLA claims, 2.3.3.3
consumer leases, default liability, 14.2.11.1
deficiency claims, 12.7
recovery of property subsequent to transfer avoidance, 8.4.6.5
replevin actions, 5.2.3
statutory damages, 13.2.8.1
TILA claims, 2.3.3.3, 13.5.3
tolling, 13.2.8.2
UCC Article 2, 13.2.8.1
UCC Article 2A, 14.2.11.1
UCC Article 9, 13.2.8
STATUTES
anti-deficiency, see ANTI-DEFICIENCY STATUTES
CLA, see CONSUMER LEASING ACT (CLA)
DIDA, see DEPOSITORY INSTITUTIONS DEREGULATION AND MONETARY CONTROL ACT (DIDA)
ECOA, see EQUAL CREDIT OPPORTUNITY ACT (ECOA)
FDCPA, see FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)
military personnel, see SERVICEMEMBERS CIVIL RELIEF ACT
RICO, see RICO CLAIMS
RISA, see RETAIL INSTALLMENT SALES ACTS (RISA)
state, see STATE LAW
TILA, see TRUTH IN LENDING ACT (TILA)
UCC, see UNIFORM COMMERCIAL CODE (UCC)
UCCC, see UNIFORM CONSUMER CREDIT CODE (UCCC)
UDAP, see UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
STATUTORY DAMAGES
see also DAMAGES
accommodation parties, 12.9.1.2, 13.2.4.4
actual damages concurrent with, 13.2.6.3
class actions, 13.2.6.1
deficiency bar combined with, 13.2.7
punitive damages in addition, 13.2.6.3
repossession sales, circumstances, 11.2.3
TILA, 13.5.3
UCC Article 9
availability, 13.2.4, 13.2.7
calculation, 13.2.4.6
consumer good requirement, 13.2.4.5
entitlement, 13.2.4.4
minimum damages, 13.2.4.6
multiple statutory damages, 13.2.6.2, 13.2.6.3
non-UCC violations, 13.2.4.3
overview, 13.2.4.1
revised Article 9, 13.2.4.2, 13.2.5
statute of limitations, 13.2.8.1
supplemental damages, 13.2.5
wrongful repossessions
calculation, 13.2.4.6
class actions, 13.2.6.1
Native Americans, 6.3.5.2
standing, 13.2.4.4
violations leading to, 13.2.4.2
STATUTORY LIENS
see also LIENS
applicable law, 2.2.4.4, 15.1
bankruptcy filings
automatic stay, 8.2.4.2
avoidance of lien, 8.4.7
consensual liens distinguished, 2.2.4.4
consent to services
generally, 15.7.1
parties who may consent, 15.7.3
valid consent, 15.7.2
establishment
enhancement of value, 15.5.3
labor and skill, 15.5.2
reasonable or agreed charges, 15.5.4
extinguishment
surrender, 15.8
tender, 15.10
garagemen’s liens, see GARAGEMEN’S LIENS
key defenses, 15.1
laborers’ liens, see LABORERS’ LIENS
manufactured home ground lease, 5.3.7
mechanic’s liens, see MECHANIC’S LIENS
possession requirement, 15.8.1
property subject to lien
damage to, 15.14.4
specific items, 15.6.3
types, 15.6.1
remedies, 15.14
attorney fees, 15.14.5
cause of action, 15.14.5
conversion, 15.14.1
damage to property, 15.14.4
due process, 15.13, 15.14.5
release of property, 15.14.2
UDAP remedies, 15.14.3
revocation of acceptance, 4.4.2.2.1
sales, see LIEN SALES
scope, 15.4, 15.6
security interest distinguished, 2.2.4.4
state law, 2.3.3.8, 15.3, 15.11.2, 15.14.5
statutory construction, 15.3, 15.6.1
storage liens, see TOWING AND STORAGE LIENS; WAREHOUSEMEN’S LIENS
tax liens, see TAX LIENS
towing liens, see TOWING AND STORAGE LIENS
UCC Article 9, exclusion, 2.2.4.4, 15.1
use of property by lienholder, 15.9, 15.14.1
waiver, 15.9
STAY OF PROCEEDINGS
bankruptcy stay, see BANKRUPTCY
military personnel, entitlement, 6.3.5.1.1, 6.3.5.1.4, 14.2.2.5.2
STORAGE
evicted tenant’s property, 15.7.4
liens, see TOWING AND STORAGE LIENS; WAREHOUSEMEN’S LIENS
repossessed goods, liability, 11.3.6.1
STORE CREDIT CARDS
see also CREDIT CARD PURCHASES
security interest of merchant, 3.9
adequate description of collateral, 3.9.3
false enforcement threats, 3.9.6
overview, 3.9.1
payment allocations, 3.9.4
state restrictions, 3.9.5
validity of security agreement, 3.9.2
STRICT FORECLOSURE
see also FORECLOSURES
acceptance in full satisfaction, 9.4.1
accommodation party rights, 12.9.5.1.2
automobile title loans, 3.8.7.5
consent by debtor, 9.4.3.2
failure to object as, 9.4.3.2.3
overview, 9.4.3.2.1
record authenticated after default, 9.4.3.2.2
consent by owner of collateral, 9.4.3.2.1
constructive strict foreclosure, 12.5
absolute bar alternative, 12.5.8
accord and satisfaction, 12.3.3, 12.5.9.4
delay of sale, 12.2.2.2.1, 12.5.7
destruction of collateral, 10.3.1, 12.5.6
estoppel, 12.5.9.2
failure to follow procedures, 9.4.4
former Article 9, 12.5.2
rescission and satisfaction, 12.5.9.5
revised Article 9, 9.4.4, 12.5.3
sale to self, 12.5.4
waiver, 12.5.9.3
wrongful use of collateral, 10.3.2, 12.5.5
consumer goods, 3.8.7.5
creditor’s proposal, 9.4.3.2.3
timing requirements, 9.4.3.2.4
deficiency precluded, 9.4.1
good faith duty, 9.4.6
notice requirements, 9.4.1, 9.4.3.3
objection by debtor
consequences, 9.4.3.2.6
surplus situations, 11.1.2.2
time limit, 9.4.3.2.3
when to object, 9.4.3.2.5
objection by other parties, 9.4.3.3
partial strict foreclosure, 9.4.5
possession of collateral, 9.4.3.2.4
procedural steps, 9.4.3
debtor’s consent, 9.4.3.2
failure to comply, 9.4.4
notice, 9.4.3.3
overview, 9.4.3.1
restrictions, 9.4.2, 11.1.2.2
sale of collateral after, 9.4.1, 11.1.2.2
sixty percent (60%) rule, 9.4.2, 11.1.2.2
surplus rights, 11.1.2.2
timing requirements, 9.4.3.2.4
UDAP violations, 9.4.6, 11.1.2.2
waiver of protections, 9.4.2
yo-yo sales, 4.6.3.5
STRIPDOWN
see under BANKRUPTCY
STRUCTURED SETTLEMENTS
UCC Article 9, application, 2.2.4.8.2
SUIT ON THE DEBT
see ACTIONS ON THE DEBT
SURETIES
see ACCOMMODATION PARTIES
SURPLUSES
accommodation party rights, 12.9.5.1.2
calculating, see CALCULATION OF DEFICIENCY OR SURPLUS
debtor rights
automobile title loans, 3.8.7.7
explanations, 11.2
generally, 11.1.1
joint debtors, 11.1.2.1
sale of collateral, 11.1.2.1
state law, 11.1.2.2
strict foreclosure, 11.1.2.2
waiver, 11.1.2.1
failure to pay, remedies, 11.1.2.3
RTO repossessions, 14.3.7
yo-yo sale repossessions, 4.6.3.5
SURRENDER OF COLLATERAL
see VOLUNTARY SURRENDER OF COLLATERAL
SWITCH OUTS
RTO repossession tactic, 14.3.5.2
TAX DEBTS
bankruptcy stay, 8.2.4.3
violations, remedies, 8.2.6.2
early termination formulas, 14.2.9.4
TELEPHONE INFORMATION
repossessed collateral
additional information, 10.4.11.9
redemption amount, 9.3.5, 9.3.6.2, 10.4.11.8
TELEVISIONS
see ELECTRONIC ENTERTAINMENT EQUIPMENT
TENANTS
evicted, storage of property, 15.7.4
TENDER
offer to cure, 4.5.2.4
redemption
amount, 9.3.1, 9.3.6
procedures, 9.3.7
refusal, 9.3.8
statutory liens, 15.10
THEFT CLAIMS
wrongful repossessions, 13.4.4
THIRD PARTY TRANSFERS
see also SALES; SALES BY DEBTOR
automatically perfected interests, 3.4.3.3
bankruptcy filing
avoidance, 8.4.6.3, 8.4.6.4, 8.4.6.5
effect, 8.3.3
fraudulent conveyances, see FRAUDULENT CONVEYANCES
generally, 3.4.3.1
installment sales contracts, 10.4.6.3
perfected interests, 3.4.3.4
preferences, see PREFERENCES
unperfected security interests, 3.4.3.2
THREATS
see also BREACH OF THE PEACE; HARASSMENT
false threats, see FALSE THREATS
household goods, repossession, 3.3.2
invalid security interests, remedies, 3.10.4
self-help repossessions, 6.4.3
TIME LIMITS
see also STATUTE OF LIMITATIONS
bankruptcy, chapter 7, statement of intention, 8.9.1, 8.9.2.3
bankruptcy stay, 8.2.3.1, 8.2.7.3
deficiency actions, 12.7
fraudulent conveyances, avoidance by bankruptcy trustee, 8.4.6.4
termination statement, filing, 3.4.5
TIME PRICE DIFFERENTIAL
see FINANCE CHARGES
TITLE
see also CERTIFICATES OF TITLE; OWNERSHIP
assignment as disposition, 10.1.3
loans, see AUTOMOBILE TITLE LOANS; PAWN TRANSACTIONS
repossession sales, 10.11
repossession title, 9.3.3
retention by seller, 2.2.4.1, 2.2.4.2, 3.8.2.2
title-purging statutes, 5.3.3
TITLE PAWNS
see AUTOMOBILE TITLE LOANS; PAWN TRANSACTIONS
TITLE RETENTION CONTRACTS
see SECURITY AGREEMENTS
TORT CLAIMS
actual damages, 13.6.10
assault and battery, 13.6.5
attorney fees and costs, 13.6.1
bailments, 2.3.4.2.4
commercial tort claims
after-acquired security interests, 3.4.6
UCC Article 9, application, 2.2.4.3.3, 2.2.4.8.2
conversion, see CONVERSION ACTIONS
defamation, 13.6.7
fraud, 13.6.8
infliction of emotional distress, 13.6.6
invasion of privacy, 13.6.4
limitations, 13.2.8.2
misrepresentation, 13.6.8
negligence, see NEGLIGENCE
overview, 2.3.4.1, 13.6.1
punitive damages, 13.6.11
repossession companies, liability of creditor, 13.10.4
seizure of unsecured property
compensatory damages, 7.4.1.5
conversion, 7.4.1.1, 13.6.2
liability, 7.4.1.6
negligence, 7.4.1.2, 7.4.1.4
punitive damages, 7.4.1.7
trespass, 7.4.1.3, 13.6.2.3
structured settlements, UCC Article 9, application, 2.2.4.8.2
trespass, 13.6.4
see also TRESPASS; TRESPASS TO CHATTELS
trespass to chattels, 13.6.2.3
UCC Article 9, application, 2.2.4.3.3
unlawful replevin, 5.4.2.9.2
wrongful repossession, 13.6
actual damages, 13.6.10
overview, 2.3.4.1, 13.6.1
potential causes of action, 13.6.2–13.6.9
punitive damages, 13.6.11
RTO transactions, 14.3.5.3
TOWING AND STORAGE LIENS
see also STATUTORY LIENS; WAREHOUSEMEN’S LIENS
consent to charge, 15.5.4, 15.7
constitutional challenges, 15.13.3
statutory liens, 15.4, 15.5.3
TOWING COMPANIES
greensheeting, 11.3.6.1
liens, see TOWING AND STORAGE LIENS
TRADE REGULATION RULE (FTC)
see FTC CREDIT PRACTICES RULE
TRADE-INS
see also AUTOMOBILES
negative equity, 8.7.3.2
sale price adjustments, 11.3.4.4
security interests in, 3.8.5
yo-yo sales, keeping after failed transactions, 4.6.4
TRANSFER AGREEMENTS
collateral to new buyer, effect of default by new buyer, 10.4.6.3
TRANSFERS
see ASSIGNMENTS; FRAUDULENT CONVEYANCES; REPURCHASE AGREEMENTS; SALES; THIRD PARTY TRANSFERS
TRESPASS
see also BREACH OF THE PEACE; TORT CLAIMS
manufactured home repossessions, 6.3.3
repossessions, generally
entry without consent, 13.6.4
private driveway or garage, 6.4.6.2
public street, 6.4.6.2
residence, 6.4.6.3
workplace, 6.4.6.4
trespass to chattels, see TRESPASS TO CHATTELS
wrongful repossessions, 13.6.4
TRESPASS TO CHATTELS
see also TRESPASS
cause of action, 13.6.2.3
unsecured property taken with collateral, 7.4.1.1, 7.4.1.3
compensatory damages, 7.4.1.5
TRIBAL SECURED TRANSACTIONS ACT
Uniform Law Commission Model Act, 6.3.5.2
TROVER
see REPLEVIN ACTIONS
TRUST DEEDS
see SECURITY INTERESTS
TRUST RECEIPTS
see SECURITY INTERESTS
TRUSTEES IN BANKRUPTCY
see also BANKRUPTCY
avoidance powers, use by debtor, 8.4.6
collateral sales, commercial reasonableness, 9.5
hypothetical lien creditor, 8.4.6.2
notice of sale, receipt, 10.4.6
relief from stay, party, 8.2.7.5
turnover of property, receipt, 8.3.1
TRUTH IN LENDING ACT (TILA)
CLA, see CONSUMER LEASING ACT (CLA)
disclosures, see DISCLOSURES (TILA)
electronic repossessions, application, 6.6.4.4
foreclosures, application, 2.3.3.3, 13.5.3
overview, 2.3.3.3
repossessions, application, 2.3.3.3, 3.2.7.4, 13.5.3
rescission rights, see RESCISSION (TILA)
research aids, 2.3.3.3
RTO transactions, application, 14.3.4
security interest creation
collateral identification, specificity, 3.2.7.4
disclosure as specific grant, 3.2.2.3
signature requirement, 3.2.3.1
unnecessary charges, 3.10.2
TURNOVER OF PROPERTY
bankruptcy, see under BANKRUPTCY
unsecured property seized, demanding, 7.3.1
voluntary surrender, see VOLUNTARY SURRENDER OF COLLATERAL
UCC ARTICLE 1 (GENERAL PROVISIONS)
see also UNIFORM COMMERCIAL CODE (UCC)
acceleration at will, restrictions, 4.2.2.2
choice of law rules, 2.4.1, 2.4.2
cosigner rights, 12.9.5.2
good faith provision, 2.3.1.2, 4.2.3, 12.9.5.2, 13.3
revised Article 1, 2.3.1.2
selected provisions, Appx. A.2
UCC ARTICLE 2 (SALES)
see also UNIFORM COMMERCIAL CODE (UCC)
breach of contract, payment deductions, 4.4.3
revocation of acceptance, refunds, 4.4.2.2.1, 12.3.4
statute of limitations, 13.2.8.1
UCC ARTICLE 2A (LEASES)
see also PERSONAL PROPERTY LEASES; UNIFORM COMMERCIAL CODE (UCC)
automobile leases, application, 2.2.4.6, 14.2.1
consumer leases, application, 14.1.3.1
default and early termination penalties, 14.2.7.2, 14.2.10.1
legislative history, 2.3.1.1
overview, 2.3.1.1
RTO transactions, application, 2.2.4.6, 14.3.1, 14.3.3.3
automobile transactions, 14.2.1.4
scope, 2.3.1.1
selected provisions, Appx. A.3
state dissatisfaction, 2.3.3.11
state law, preemption, 14.1.3.1
state variations, Appx. B
statute of limitations, 14.2.11.1
unconscionability provisions, 14.2.10.1
violations, remedies, 2.3.1.1, 14.1.3.1
UCC ARTICLE 3 (NEGOTIABLE INSTRUMENTS)
see also UNIFORM COMMERCIAL CODE (UCC)
application, 12.9.1.3
cosigner definition, 12.9.2
1990 version, Appx. A.4.2
2002 revisions, 12.9.3.3, Appx. A.4.3
cosigner protections, 2.3.1.3, 12.9.3
selected provisions, Appx. A.4
UCC ARTICLE 7 (DOCUMENTS OF TITLE)
evicted tenant’s property, application, 15.7.4
UCC ARTICLE 9 (SECURED TRANSACTIONS)
see also SECURITY INTERESTS; UNIFORM COMMERCIAL CODE (UCC)
assignments, application, 2.2.4.3.3, 2.2.4.8
anti-assignment clauses, 2.2.4.8.2
automobile leases, application, 14.2.1
automobile title loans, application, 3.8.7.2—3.8.7.7
basics of, 2.2.2, 3.2.1.1
burden of proof, 10.2.5
business collateral exception, 3.2.1.2.2
choice of law rules, 2.4
closed-end leases, application, 14.2.1.2
collateral, adequate identification, 3.2.7, 3.3.7.1
commercial reasonableness, 10.2
consignments, application, 2.2.4.7, 9.6.4
constructive strict foreclosure, 12.5.2, 12.5.3
cosigner’s rights, 12.9.5.1
credit transactions, application, 2.2.4.2
creditor liability for acts of repossessor, 13.10.4.2.1
default precondition to repossession, 4.1.1
electronic repossessions, application, 6.6.2.1, 6.6.2.2
enforceable interests, criteria, 2.2.2, 3.2, 3.8.7.3
excluded transactions, 2.2.4.3
annuity contracts, 2.2.4.8.2
bailments, 2.2.4.3.1
common law liens, 2.2.4.3.3, 2.2.4.4
consignments, 2.2.4.7
deposit accounts, 2.2.4.3.2, 3.2.1.2.2
insurance claims, 2.2.4.3.3
leases, 2.2.4.3.1, 2.2.4.6, 14.1.2
real estate, 2.2.4.5.1
statutory liens, 2.2.4.3.3, 2.2.4.4
torts settlements, 2.2.4.3.3, 2.2.4.8.2
wage assignments, 2.2.4.3.3
federal preemption, 2.5.2
fixtures, application, 2.2.4.5.1
future advance clauses, authorization, 3.6.2.1
generally, 2.1
leases, application, 2.2.4.3.1, 2.2.4.6, 14.1.2
non-terminable leases, 14.1.2.3.2
legislative history, 2.2.1, 2.2.3
liens, application, 2.2.4.4, 15.1
notice of sale, 10.4
overview, 2.2
scope, 2.2.4.1
substantive overview, 2.2.2
payment allocation, 3.7.4
perfection of security interest, 3.2.9
possessory security interest exception, 3.2.1.2.1
purchase-money security interests, definition, 3.3.3.1, 8.7.3.2.2
real estate, application, 2.2.4.5
refinancings, preservation of collateral, 3.3.3.3, 3.5.2
replevin actions, relationship, 5.2.7
repossession cases, application, 1.4.3
repossession sale purchases, 10.11
valid repossession sale, 11.3.4.2
repurchase agreements, 10.10.4.1
revised Article 9
annuities, application, 2.2.4.8.2
burden of proof, 10.2.5
changes made by, 2.2.3.1
cosigner rights, 2.2.3.1
consignments, application, 2.2.4.7
constructive strict foreclosure, 2.2.3.1, 12.5.3
conversion tables, Appx. A.5.2
definitions, 2.2.5
effective date, 2.2.3.2
electronic notices, 4.5.2.3.1
expanded scope, 2.2.3.1, 2.2.4.8.1
FTC Holder Rule, 2.2.3.1
future advance clauses, 3.6.2.3
good faith definition, 13.3.1
insider sales, 10.10.3, 10.10.5
legislative history, 2.2.3.1
licenses, disposition of collateral by, 10.1.3
notice of sale, 2.2.3.1, 10.4.1, 10.4.6.1, 10.4.8.1, 10.4.11
perfection of security interests, 3.2.9
rebuttable presumption rule, 2.2.3.1
repossession sale purchasers, rights, 2.2.3.1, 10.11
scope, 2.2.4.1, 2.2.3.1
securitized mortgages, application, 2.2.4.5.2
security interest definition, 14.1.2.2
selected provisions, Appx. A.5.1
state variations, Appx. B
states adopting, Appx. B
structured settlements, application, 2.2.4.8.2
violations, remedies, 13.2.4.2
waivers, 2.2.3.1, 10.4.7.1, 10.4.7.2, 13.10.2
RTO transactions, application, 14.3.2
automobile transactions, 14.2.1.4
scope, 2.2.4, 3.2.1
secured transactions, application, 2.2.4.2
seizure of personal property, preconditions, 3.1
selected provisions, Appx. A.5
state adoption, 2.2.1
state law preemption, 2.3.2.2
state variations, Appx. B
statute of limitations, 13.2.8
statutory damages, 13.2.4
unlawful repossessions, 3.10.5
unsecured property seized, remedies, 7.4.2
violations, remedies, 2.2.2, 13.2
attorney fees, 13.11.6
deficiency bar, 12.6
state-by-state survey, 12.6.5
waivers, 10.2.4, 10.4.7.1, 10.4.7.2, 13.10.2
wholesale dispositions, 10.7.2.1
yo-yo sales, application, 4.6
UDAP CLAIMS
see UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
UNCONSCIONABILITY
see also UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
acceleration provisions, 4.2.3
acceleration without notice, 4.1.7.4
arbitration clauses, 13.11.3.9
auto lease provisions, 14.2.2.2, 14.2.10.1
breach of peace consent, 14.2.4
broad term, 2.3.3.1
cross-collateral clauses, 3.7.2
leases, remedies, 14.1.3.1
loan consolidations, 3.7.3
non-purchase-money security interests, 3.3.6
pro-rata payment allocations, 3.7.4
RTO transactions, 14.3.3.3, 14.3.7
unsecured property seized, disclaimer clauses, 7.5.2, 7.5.3
wrongful repossession remedy, 13.4.5
UNEARNED CHARGES
automobile leases, 14.2.9.2
insurance rebates, see INSURANCE REBATES
interest rebates, see UNEARNED INTEREST REBATES
other rebates, see UNEARNED INTEREST REBATES
redemption amount, inclusion, 4.1.6, 9.3.6.1
UNEARNED INTEREST REBATES
see also UNEARNED CHARGES
acceleration, 4.1.6, 11.3.2.2.1
automobile leases, 14.2.9.2
calculation, 11.3.2.2.2
failure to rebate, remedies, 11.3.2.2.4
federal rebate statute, Appx. C.2
Rule of 78, use, 11.3.2.2.2
waiver of rights, effect, 11.3.2.2.3
UNFAIR AND DECEPTIVE ACTS AND PRACTICES (UDAP)
see also UNCONSCIONABILITY
accommodation parties, misrepresentation, 12.9.6.1
attorney fees, 13.2.3.2, 13.11.6
bankruptcy stay violations, 8.2.6.1
churning schemes, 10.10.5
collection practices, scope, 13.4.2.2
consumer leases, scope, 14.1.3.4
credit property insurance, 3.10.1
credit transactions, scope, 13.4.2.3
deficiency actions
contrary to anti-deficiency statute, 12.4.9
improper, threats, 12.2.1
electronic repossessions, 6.6.4.2, 6.6.4.3
false threats, 3.3.4.5, 3.3.6, 6.2.3
force-placed insurance, 11.3.2.4
foreclosures, scope, 13.4.2
FTC rule, see FTC CREDIT PRACTICES RULE
improper collateral dispositions, 13.2.3.2
invalid security interests, 3.10.3
limitations, 3.4.3.4, 13.2.8.2
loan consolidations, 3.7.3
non-purchase-money security interests in household goods, 3.3.4.5, 3.3.6
overview, 2.3.3.1, 13.4.1
per se violations, 13.4.3.2
preconditions to liability, 13.4.3.4
redemption notice, improper, 9.3.5
reinstatement violations, 9.2.4
remedies, 13.4.3.4
repossessions, scope, 13.4.2
revolving repossession schemes, 10.10.5
RTO transactions, 14.3.7
repossession tactics, 14.3.5.2
self-help repossessions, 13.4.3.1
specific unfair or deceptive practices, 13.4.3.1
state law violations, 13.5.4
statutory liens, 15.14.3
strict foreclosure, 9.4.6, 11.1.2.2
surplus, failure to pay, 11.1.2.3
unfair practice, defined, 13.4.3.3
unsecured property seizure, 7.4.3, 7.5.3
waiver of notice provisions, 4.1.7.4
wrongful repossessions, 13.2.3.2
UNIFORM COMMERCIAL CODE (UCC)
Article 1, see UCC ARTICLE 1 (GENERAL PROVISIONS)
Article 2, see UCC ARTICLE 2 (SALES)
Article 2A, see UCC ARTICLE 2A (LEASES)
Article 3, see UCC ARTICLE 3 (NEGOTIABLE INSTRUMENTS)
Article 7, see UCC ARTICLE 7 (DOCUMENTS OF TITLE)
Article 9, see UCC ARTICLE 9 (SECURED TRANSACTIONS)
choice of law rules, 2.4
consignment of consumer goods, 9.6.4
federal preemption, 2.5.2
good faith duty, 2.3.1.2, 4.2.2.2, 4.2.3, 13.3
official comments, 1.2.1, Appx. A
research aids, 1.2.1, Appx. A
revised Article 9, see under UCC ARTICLE 9 (SECURED TRANSACTIONS)
selected text, Appx. A
sixty percent (60%) rule, see SIXTY PERCENT (60%) RULE
state adoption, 2.2.1, Appx. B
state consumer credit laws, interrelation, 13.5.4
state law preemption, 2.3.2.2, 14.1.3.1
state variations, 2.2.1, Appx. B
violations
deficiency bar, 12.6
per se UDAP violation, 13.4.3.2
UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT (UCITA)
electronic self-help deactivation, restrictions, 6.6.5
UNIFORM CONSUMER CREDIT CODE (UCCC)
see also CONSUMER CREDIT STATUTES (STATE)
default limitations, 4.2.7
research aids, 1.2.2
scope, 2.3.2.3
state adoption, 2.3.2.1
UNIFORM CONSUMER LEASES ACT
state adoption, 2.3.3.11, 14.1.3.3
UNIFORM ELECTRONIC TRANSACTIONS ACT (UETA)
E-Sign preemption, 4.5.2.3.3
notice of sale, application, 10.4.4.2
right to cure notices
application, 4.5.2.3.1
requirements, 4.5.2.3.3
UCC Article 9, preemption, 4.5.2.3.1, 10.4.4.2
UNSECURED PERSONAL PROPERTY
accessions, see ACCESSIONS
removal from foreclosed collateral, 7.3.1
wrongful seizure
bailment, creation, 7.2
conditional return, 7.3.3
conversion action, 7.4.1.1, 13.6.2
creditor liability, 7.4.1.6, 13.10.3
damages, 7.4.1.5
demanding return, 7.3.1
documenting, 7.3.2
duty of care, 7.2
evidence and proof issues, 7.4.4
FDCPA damages, 7.4.3
liability disclaimers, 7.5, 13.10.3
negligence action, 7.4.1.2, 7.4.1.4
plain view concept, 7.5.1
punitive damages, 7.4.1.7
state law, 7.4.3, 7.5.3, 7.6
the problem, 7.1
trespass action, 7.4.1.3
UCC remedies, 7.4.2
USE
collateral by creditor, 10.3.2
constructive strict foreclosure, 12.5.5
property by lienholder, 15.9, 15.14.1
USED CAR GUIDES
use to establish market value, 10.9.5.1
USED CARS
see AUTOMOBILES; TRADE-INS; USED CAR GUIDES
USURIOUS CREDIT
arbitration clauses, application, 13.11.3.2.12
extinguishment of debt obligation, 4.4.1
manufactured homes, 4.5.3.1
VALUATION
see also VALUE
automobile leases, early termination, 14.2.8.1
bankruptcy proceedings
allowed secured claims, 8.6.2.4
automobiles, 8.6.2.4.2
collateral, 8.2.7.9, 8.6.2.4
computation, 8.6.2.4.4
personal property, 8.5.4, 8.6.2.4
store credit card purchases, 8.8.2.1
collateral
general rules, 11.3.4
insider sales, 11.3.5
required evidence, 12.6.3.3
sale price, 10.9
sample request for admissions, Appx. E.5
VALUE
see also MARKET VALUE
automobile leases
early termination value, 14.2.8.1
realized value, 14.2.8
resale value, 14.2.5
residual value, 14.2.8
bona fide purchaser for, 8.4.6.4, 8.4.6.5
collateral
bankruptcy situations, 8.5.4, 8.6.2.4
credit for, 11.3.4
insider sales, 11.3.5.1, 11.3.5.4
market value, 10.9, 12.6.3.3
defined, 3.2.5, 8.4.6.4
determination, see VALUATION
enhancement, statutory liens, 15.5.3
household goods as collateral, 3.3.2
residual value, see RESIDUAL VALUE
security interest, requirement, 3.2.5
VEHICLES
see AUTOMOBILES; MANUFACTURED HOMES
VENDOR SINGLE INTEREST INSURANCE (VSI)
see also CREDIT INSURANCE; FORCE-PLACED INSURANCE
claim payments, credit to consumer, 11.3.2.5
VENDORS
see MERCHANTS
VENUE
deficiency actions, 12.8.3
VIOLENCE
see ASSAULT AND BATTERY; BREACH OF THE PEACE
VOLUNTARY SURRENDER OF COLLATERAL
see also COLLATERAL; DEFAULT
bankruptcy
avoidance of transfer, restrictions, 8.4.6.5
chapter 13 plans, 8.6.2.3
statement of intention, 8.9.1
coercion, 6.3.5.1.3
military personnel, 6.3.5.1.3
notice of sale, 10.4.5.1, 10.4.7.1
pros and cons, 6.2.1
redemption rights, effect, 9.3.2
states prohibiting self-help repossessions, effect, 6.3.2
WAIVERS
see also CONSENT; RELEASE FORMS
accommodation parties
impairment of collateral defense, 12.9.3.4.2
rights, 12.9.3.2.5, 12.9.3.4.3, 12.9.5.1.2
arbitration requirement, 13.11.3.2.8
breach of the peace, 6.4.9
commercial reasonableness, 10.2.4
contractual waivers, 13.10.2, 13.10.3
default and acceleration rights, 4.3
acceptance of breach, 4.3.2
anti-waiver provisions, 4.3.4
consumer leases, 14.2.2.4
late payment acceptance, 4.3.1.2
oral representations, 4.3.3
deficiency rights, 12.3.3, 12.5.9.3
defined, 12.3.3, 12.5.9.3
notice of acceleration
right to cure, overrides, 4.1.7.3
strict construction, 4.1.7.2
UDAP violations, 4.1.7.4
unconscionability, 4.1.7.4
validity, 4.1.7.1
notice of repossession sale
debtor, 10.4.7.1
guarantor, 10.4.7.2
redemption rights, 9.3.9
replevin actions, counter-bonds, 5.4.4.2.2
replevin hearing, 5.4.2.8
repossession protections, military personnel, 6.3.5.1.3
revised Article 9 protections, 10.2.4, 10.4.7.1, 10.4.7.2
speedy sale, 10.5.1
statutory liens, 15.9
strict foreclosure, rights, 9.4.2
surplus rights, 11.1.2.1
unearned interest, effect, 11.3.2.2.3
unfair waivers, 13.4.3.3
unsecured property seized
creditor liability, 7.5, 13.10.3
creditor return demands, 7.3.3
wrongful repossession action, 7.5.3, 13.10.2
WAREHOUSEMEN’S LIENS
see also STATUTORY LIENS; TOWING AND STORAGE LIENS
evicted tenant’s property, storage, 15.7.4
statutory liens, 15.4, 15.5.3
WARRANTY CLAIMS
accommodation parties, by, 12.9.1.2
counterclaims re, 13.9.1
repairer’s liens, 15.5.4
right to deduct payments, 4.4.3
WEB RESOURCES
car pricing information, 10.9.5.1, 11.3.5.5.3
Clearinghouse citations, 1.1.6
NCLC online materials, 1.1.1
pleadings, 1.1.5
practice tools, 1.1.5
primary sources, 1.1.5
UCC, 1.2.1
unreported decisions, 1.1.6
professional repossessors, 6.5.4, 13.5.5
RTO companies, 14.3.1
UCC law, 1.2.1
WHOLESALE DISPOSITIONS
see also REPOSSESSION SALES
auctions, see DEALERS ONLY AUCTIONS
automobiles, 10.7.2
commercial reasonableness, 10.7.2
choosing, 10.7.1
dealer justification, 10.7.2.2
dealers only auto auctions, 10.7.2.1, 10.7.4
inspection of collateral, 10.8.7
low price, 10.9.6
private sales, 10.7.3
UCC position, 10.7.2.1
WITNESSES
see EVIDENCE
WORKPLACE
entry by repossessor, 6.4.6.4
WORKS OF ART
see also CONSUMER GOODS
FTC Credit Practices Rule, application, 3.3.4.2.2
WRIT OF REPLEVIN
see also REPLEVIN ACTIONS
bonds, posting, 5.4.4, 13.6.12
burden of proof, 5.4.3.5
challenging, 5.4.3
complaint, 5.4.3.4
constitutional challenges, 5.4.1
counterclaims, 5.4.3.6
jurisdictional, 5.4.3.3
manufactured homes, 5.3
right to hearing, 5.4.3.2
strategies, 5.2.8
substantive defenses, 5.4.3.6
consent in credit agreement, 5.4.2.8
constitutional standards
due process, 5.4.1.2, 5.4.1.4, 5.4.2.5, 5.4.2.6, 5.4.4.1
generally, 5.4.1.1
search and seizure, 5.4.1.3, 5.4.1.4
state provisions, 5.4.1.4
violations, remedies, 5.4.2.9.1
debtor’s action, 13.6.12
ex parte
affidavit and complaint, 5.4.2.5
authorization, 5.4.2.2, 5.4.2.8
challenging, 5.2.8, 5.4.1.2, 5.4.2
constitutionality, 5.1, 5.4.1, 5.4.2.3
creditor’s bond, 5.4.4.1
debtor’ consent, 5.4.2.8
grounds, 5.4.2.4
judicial supervision, 5.4.2.6
post-seizure hearing, 5.4.2.7
remedies, 5.4.2.9
hearing, right to, 5.4.3.2
overview, 5.2.4
prosecution of replevin action after, 5.5.3
recovery of property after through reinstatement, 5.5.1
seizure under, debtor resistance, 5.2.9, 6.2.4.1
state law violations, remedies, 5.4.2.9.2
WRONGFUL DETENTION
see CONVERSION ACTIONS
WRONGFUL REPOSSESSION REMEDIES
see also DAMAGES; REMEDIES; REPOSSESSIONS
actual damages, 13.2.3
analyzing the case, 1.4.11
attorney fees, 13.11.6
bankruptcy of defendant, 8.11
civil theft claims, 13.4.4
civil rights actions, 2.3.3.2, 13.7
class actions, 13.2.6.1
consent as creditor defense, 13.10.1
constitutional remedies, 6.3.6.5, 13.7
contract claims, 13.6.13
contractual waiver, 13.10.2, 13.10.3
conversion actions, 13.6.2.1, 13.6.2.2
see also CONVERSION ACTIONS
counterclaims, 13.1
credit record damage, 13.2.3.2, 13.6.7, 13.11.5
creditor defenses, 13.10
criminal prosecutions, 6.5.5, 13.5.6
electronic repossessions, 6.6.2.4.2, 6.6.4.1, 6.6.4.3
generally, 13.1
good faith duty, violations, 13.3.2
government officials, wrongful assistance, 13.7
FDCPA remedies, 13.5.1
invalid security interests, 3.10.5
invasion of privacy, 13.6.4
military personnel, 6.3.5.1.6
negligence actions, 13.6.3
pleadings, see PLEADINGS
replevin action by debtor, 13.6.12
RICO remedies, 13.4.4
RTO transactions, 14.3.5.3, 14.3.7
Servicemembers Civil Relief Act, 6.3.5.1.6
state remedies, 6.5.4, 13.4.3, 13.5.2
statute of limitations, 13.2.8
statutory damages, 13.2.4–13.2.7
statutory liens, 15.14
theft claims, 13.4.4
TILA remedies, 2.3.3.3, 13.5.3
tort claims
actual damages, 13.6.10
generally, 2.3.4.1, 13.6.1
potential causes of action, 13.6.2–13.6.9
punitive damages, 13.6.11
trespass to chattels, 13.6.2.3
trespass to land, 13.6.4
UCC remedies, 2.2.2, 13.2, 13.3.2
UDAP, 13.4.3
unconscionability, 13.4.5
unsecured personal property, 7.4
voluntary surrender, effect, 6.2.1
waiver, 13.10.2, 13.10.3
YO-YO TRANSACTIONS
acceleration, 4.6.3.2
applicable law, 4.6.1, 4.6.2, 4.6.3.5, 4.6.4
bailment law, application, 4.6.2.5, 4.6.4
condition subsequent agreements, 4.6.2.5
inconsistent characteristics, 4.6.2.7
nominal condition precedent transactions, 4.6.2.6
contingency clauses
exact conditions must occur, 4.6.2.4
riders, 4.6.2.3
validity, 4.6.2.3
written requirement, 4.6.2.2
creditor’s failure to sign note, effect, 4.6.2.2
dealer retains security interest only, 4.6.3
dealer’s failure to sign, effect, 4.6.2.2
default, 4.6.3.2, 4.6.3.3
deficiency actions, 4.6.3.5
down payment or trade-in as damages, 4.6.4
grounds for cancellation, 4.6.2.4
hybrid transactions, 4.6.2.7
misstatements on credit application, 4.6.3.3
overview, 4.6.1
redemption, 4.6.3.4, 4.6.3.5
repossession implications, 4.6.3.2, 4.6.3.4
repossession sales, 4.6.3.5
right to cure, 4.6.3.4
sale must be explicitly contingent, 4.6.2.2
strict foreclosure, 4.6.3.5
surpluses, 4.6.3.5
UCC Article 9 application, 4.6.1, 4.6.2
implications, 4.6.3
non-Article 9 situations, 4.6.4