The party carrying the contract must prove default as a prerequisite to further action. They may repossess as follows:

  • A 15 day notice must be issued. The original buyer may pay in full and be reinstated. This may occur multiple times w/o penalty.
  • The original buyer shall receive sale information within 20 days of sale. *20 day consignment sale rules apply.
  • Loan amount, repossession costs & Division 12 items are the only charges against this type of sale.
  • A bill or a check must be issued to close the sale.