So you found and repossessed the collateral. Now what?
You know you have to give notice to the borrower before you sell, but what must be in the notice? Is there anything that can’t be in the notice? How does bankruptcy affect what goes into the notice? How quickly must you get the notice out the door?
What must the borrower do to get the vehicle back? Can you require a full payoff? Does that include collection expenses? Attorney’s fees? May the borrower insist on just bringing the account current?
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