Repossessions: 9.4.3.2.5 Should the debtor object?
Debtors should object to strict foreclosure if they believe that the collateral can be sold for more than the sum of the amount remaining on the obligation and the creditor’s expenses of repossessing, reconditioning, and selling the collateral. In other words, debtors should object if a surplus would result. If the debtor fails to object, the debtor loses the right to receive the surplus from the sale of the collateral.197 Debtors should also object if they want to reinstate the obligation or redeem the collateral.