Michigan UCC

[jlyriq]

ok so i've been reading my states UCC and i just cant seem to get it. I see what is says companies must do (as far as repo's and deficiencies) buti dont see the consequences for the company if it doesnt follow the rules. Please help!


Michigan Legislature - 174-1962-9-6

[jjgross]

Originally Posted by jlyriq

ok so i've been reading my states UCC and i just cant seem to get it. I see what is says companies must do (as far as repo's and deficiencies) buti dont see the consequences for the company if it doesnt follow the rules. Please help!


Michigan Legislature - 174-1962-9-6

Look through these sections 440.9601-440.9608-440.9614.Although it doesn't say what will happen if they don't follow the law there would be consequences like if they sell for more than what you owe.they have to refund the difference,and i think if it went to court the judge would set the damages.

[Trish]

jj's right.....it should be in the statutes under the subpart2.

[jlyriq]

I've read and read through them and I know that it says by law the car loan company has to send me notices after they repo and I know for a fact they didn't and I plan on send them a letter (that I will post later) but I need to put in the letter what the consequences are

[Trish]

You know....let me look at my old letters when I went through this. I will post them later on today...

[jlyriq]

this is the letter i plan on sending

name
addy


April, 20 2009


OC
OC addy


Dealer where i purchased

Re:
Account # xxxxxxxxx

(make -model -vin# -sale date)


To whom it may concern;

I am writing in regard to the above referenced accounts and transactions.

This is not a refusal to pay, but a notice that this account is disputed (is disputed the write word to use).

This vehicle was repossessed by OC in the State of Michigan on or about, xx/xx/2008, and resold on or about xx/xx/xxxx.

Under the laws of the State of Michigan UCC § 9625 and State RISA and MVISA statutes a deficiency can not be claimed unless all of the required notices were properly and timely given, and all of the allowable redemption and cure time limits were adhered to. (but does it really say that)

Please provide copies of the legal notices and proof of the commercially reasonable manner of the resale of the subject vehicle.

If no such proof is provided within 10 days from receipt of this notice, the alleged claim of a deficiency will be considered null and void, and any continued collection activities, or continued reporting of this invalid claim on my credit reports will be considered a violation of the FDCPA and FCRA.

In addition, if you singularly or severally fail to comply with the above requests, I reserve the right to seek damages against all parties, under all available State and Federal statutes and UCC § 9 remedies.


Sincerely,


let me know what you think and if that will work

[jlyriq]

this is just a sample letter all of the dates and stuff i have changed

[Trish]

Yes, that's perfect.......and regarding your questions in red..
Yes, disputed is perfect........and yes, the statutes do say that.

The letter looks good.

[CreditCrisis]

that might work for me with my americredit thing....is that who i would send it to? the oc?

[CreditCrisis]

also would this be ok to send to the oc while its in dispute? or should i wait? like with the 1,2 punch strategy?