Question:
Once repossess you can
Author: Parker KirkpatrickAnswer:
Strict foreclosure - keep the collateral, so long as debtor does not object (debtor consents if they do not object after they are sent notice) and any other creditor with a lien on the item does not object but if they do you have to sell it Sell the collateral, lease collateral, license or otherwise dispose – can do in condition it is in or new condition – when you do foreclosure sale it discharges the security interest and all subordinate liens but senior liens will still be on property
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Parker Kirkpatrick![Parker Kirkpatrick](https://markdown.memory.com/eq_uploads/1178080/question_image_5f06d23d-6cc0-4244-bf77-65ba836dab87.jpg)