Re: Re: Re: Yet another Repo Question In reply to what makes me think I have cause of action under the UCC was not something I made up. It was based on threads I have read here notably Whychats. After reading the UCC I have come to learn that the creditors (or secured party as it may be) had to do certain things correctly to abide by the UCC. Such as conduct the sale of a repossesed "whatever" (in my case vehicle) in a commercially reasonable manner. I have read where a court ruled a "dealers only auction" was not "commercially reasonable". Also I have a right to know what the car sold for. In addition thye had to notify me within a certain timeframe of the time/location of the auction. ofcourse very few of us actually get this once a car is repossesed. In the state that my repo occured they also had to use a licensed recovery agent.. There are actually statutory and civil damages for failing to comply with the UCC but ofcourse SOl is 4 years from cause of action. That being said I am not seeking any damages but I would like the "secured party" to prove to me I had the opportunity to settle this debt before the car was sold and once it was sold did they get a fair price..etc.....
Re: Re: Re: Yet another Repo Question Makes sense...and yes, this falls under torts. Sucky thing is, well, maybe not sucky, but, youre right...when their sol ran out, so did yours. thanks for the info...and good luck!
Re: Re: Re: Yet another Repo Question Yes, but one of the problems is that UCC isn't all that uniform in all states. What may apply in your state may very well not be applicable in all states. Auto repos are one of those things where it is not all that uniform. Most states have separate laws dealing with auot repos and how autos must be disposed of. So before one jumps off into a UCC law suit over a repossessed auto one needs to check his state automobile laws as well.
Re: Re: Re: Yet another Repo Question I checked under floridas vehicle laws and i didnt find any info pertaining to the repossesions. It mainly talks about licensing and registration requirements. However, Florida UCC DOES talk about repos (doesnt explicitly say vehicle though) and the rules of conduct, so to speak. PROBLEM, I am not sure if these TN judges would want to hear how this OC violated Florida law however...I now live in Knoxville. Here is a stupid question: Would I be able to sue, here in TN, for them violating Floridas UCC code? I do have them on a violation of the FCRA right now..You know the one..Not isting the dispute.
Re: Re: Re: Yet another Repo Question Read TN code and it mirrors Florida code. For those keeping score I live in Tn but everything (the contract and the repo) happened in Florida. the OC is in Texas. I did read in both codes that they (the OC) had to send "authenticated" notification concerning what was going to happen to the collateral. I dont think "our records show a letter was sent" will work in this case. problem/question 2 ..SOL.. Would the timeframe for me to file suit be from the time of the repo or from the time I learned that they are illegally reporting a deficiency balance? In the case of the SOL (if it is up) I suppose I could use the UCC to establish they dont have the right to deficiency and then use the FCRA to enforce it (misreporting the debt) By the way UCC allows debtors to sue for damages if they cannot obtain financing If the "secured party" did not comply with the UCC.
Re: Re: Re: Yet another Repo Question BTW..link to tn code for those that would like to browse..mebee you can find it for me. i am not sure where to look. http://198.187.128.12/tennessee/lpext.dll?f=templates&fn=fs-main.htm&2.0
Re: Re: Re: Yet another Repo Question Geez it get s better. We all know the OC doesnt have to send us anything under the FCRA but read this portion of the UCC..remeber this only applies to "secured transactions".. 47-9-210. Request for accounting; request regarding list of collateral or statement of account. (a) Definitions. In this section: (1) "Request" means a record of a type described in paragraph (2), (3), or (4). (2) "Request for an accounting" means a record authenticated by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying the transaction or relationship that is the subject of the request. (3) "Request regarding a list of collateral" means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request. (4) "Request regarding a statement of account" means a record authenticated by a debtor requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate amount of unpaid obligations secured by collateral as of a specified date and reasonably identifying the transaction or relationship that is the subject of the request. (b) Duty to respond to requests. Subject to subsections (c), (d), (e), and (f), a secured party, other than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor, shall comply with a request within 14 days after receipt: (1) in the case of a request for an accounting, by authenticating and sending to the debtor an accounting; and (2) in the case of a request regarding a list of collateral or a request regarding a statement of account, by authenticating and sending to the debtor an approval or correction. (c) Request regarding list of collateral; statement concerning type of collateral. A secured party that claims a security interest in all of a particular type of collateral owned by the debtor may comply with a request regarding a list of collateral by sending to the debtor an authenticated record including a statement to that effect within 14 days after receipt. (d) Request regarding list of collateral; no interest claimed. A person that receives a request regarding a list of collateral, claims no interest in the collateral when it receives the request, and claimed an interest in the collateral at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor an authenticated record: (1) disclaiming any interest in the collateral; and (2) if known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient's interest in the collateral. (e) Request for accounting or regarding statement of account; no interest in obligation claimed. A person that receives a request for an accounting or a request regarding a statement of account, claims no interest in the obligations when it receives the request, and claimed an interest in the obligations at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor an authenticated record: (1) disclaiming any interest in the obligations; and (2) if known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient's interest in the obligations. (f) Charges for responses. A debtor is entitled without charge to one (1) response to a request under this section during any six-month period. The secured party may require payment of a charge not exceeding twenty-five dollars ($25) for each additional response. [Acts 2000, ch. 846, § 1.]
Re: Re: Re: Yet another Repo Question Would you mind giving us a link to where you found that info on Florida UCC?
Re: Re: Re: Yet another Repo Question http://www.megalaw.com/fl/flstatute..._Statute@Search_String=@URL=CH0679/Ch0679.HTM
Re: Re: Re: Yet another Repo Question Here is what it says in Florida code: 679.210 Request for accounting; request regarding list of collateral or statement of account.-- (1) In this section, the term: (a) "Request" means a record of a type described in paragraph (b), paragraph (c), or paragraph (d). (b) "Request for an accounting" means a record authenticated by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying the transaction or relationship that is the subject of the request. (c) "Request regarding a list of collateral" means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request. (d) "Request regarding a statement of account" means a record authenticated by a debtor requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate amount of unpaid obligations secured by collateral as of a specified date and reasonably identifying the transaction or relationship that is the subject of the request. (e) "Reasonably identifying the transaction or relationship" means that the request provides information sufficient for the person to identify the transaction or relationship and respond to the request. Pursuant to s. 679.603(1), a secured party and debtor may determine by agreement the standards for measuring fulfillment of this duty. (f) "Person" means a person or entity that is or was a secured party or otherwise claims or has claimed an interest in the collateral. (2) Subject to subsections (3), (4), (5), and (6), a secured party, other than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor, shall comply with a request within 14 days after receipt: (a) In the case of a request for an accounting, by authenticating and sending to the debtor an accounting; and (b) In the case of a request regarding a list of collateral or a request regarding a statement of account, by authenticating and sending to the debtor an approval or correction. (3) A secured party that claims a security interest in all of a particular type of collateral owned by the debtor may comply with a request regarding a list of collateral by sending to the debtor an authenticated record including a statement to that effect within 14 days after receipt. (4) A person who receives a request regarding a list of collateral, claims no interest in the collateral when the request is received, and claimed an interest in the collateral at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor an authenticated record: (a) Disclaiming any interest in the collateral; and (b) If known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient's interest in the collateral. (5) A person who receives a request for an accounting or a request regarding a statement of account, claims no interest in the obligations when the request is received, and claimed an interest in the obligations at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor an authenticated record: (a) Disclaiming any interest in the obligations; and (b) If known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient's interest in the obligations. (6) A debtor is entitled under this section without charge to one response to a request for an accounting or a request regarding a statement of account for each secured obligation during any 6-month period. A debtor in a consumer transaction is entitled to a single response to a request regarding a list of collateral without charge during any 6-month period. The secured party may require payment of a charge not exceeding $25 for each additional response to a request for an accounting, a request regarding a statement of account, or a request regarding a list of collateral for a consumer transaction. To the extent provided in an authenticated record, the secured party may require the payment of reasonable expenses, including attorney's fees, reasonably incurred in providing a response to a request regarding a list of collateral for a transaction other than a consumer transaction under this section; otherwise, the secured party may not charge more than $25 for each request regarding a list of collateral. Excluding a request related to a proposed satisfaction of the secured obligation, a secured party is not required to respond to more than 12 of each of the permitted requests in any 12-month period. History.--s. 2, ch. 2001-198; s. 4, ch. 2002-242. PART III
