The National Consumer Law Center (NCLC) is proposing major changes to article 9 of the Universal Commercial Code (UCC) which would materially affect consumer lending and how repossessions are done. If states adopt this latest proposed revision of the UCC, it would dramatically change repossession and lending practices and increase the potential for law suits.
FOR IMMEDIATE RELEASE
July 14, 2016 – The National Consumer Law Center (http://www.nclc.org) is publishing a document promoting changes to the Uniform Commercial Code which would greatly effect the repossession process, sales, and delinquency balances. The NCLC are strong lobbyists in Washington and this has the potential to put huge burdens on the repossession industry…and to a greater degree, auto lenders.
We see it displayed almost daily on this Web Site. We’ve all read “Repo Madness” by the National Consumer Law Center (NCLC). Sadly the Repossession Industry refers to this as “Breach of the Peace”, because we are afraid to call it what it truly is VIOLENCE.
Dallas, TX – Mach 22, 2012 – I had just checked in at the Omni Mandalay in Las Colinas for the North American Repossessors Summit (NARS) when I received an email. The Huffington Post had just published an article about the state of the repossession industry titled “Repos Gone Bad: Are Big Lenders To Blame for Driveway Violence?” Having been one of many interviewed by Dave Jamieson, I confess some apprehension in what was to be published. Upon reading it several times, I felt that for the most, he got it right.