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TJ, Esq.
TJ, Esq., Attorney
Category: Consumer Protection Law
Satisfied Customers: 12006
Experience:  JD, MBA
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I'm a lienholder on the vehicle how do I repo it I just

Customer Question

I'm a lienholder on the vehicle how do I repo it I just moved to Colorado about six months ago
Submitted: 6 months ago.
Category: Consumer Protection Law
Expert:  TJ, Esq. replied 6 months ago.

Hello and thank you for the opportunity to assist you. My name is ***** ***** I'll be glad to help if I can. However, I am unclear about your question.

You asked: "how do I repo [the car?]"

But then you stated: "The owner left the car with me."

Your question implies that you do not have possession of the car, but your subsequent statement implies that you do have possession of the car.

Customer: replied 6 months ago.
Sorry I have the car in my possession. I want to send him a notice when have a sale to recover my money
Expert:  TJ, Esq. replied 6 months ago.

Hi again. Thanks for clarifying the facts.

So you want to send him a notice about selling the car? What is your question about the notice?

Thank you.

Customer: replied 6 months ago.
I would like to know the procedure I need to take to properly serve him with notice and what I need to do to sell the car. Back in Arkansas where I'm from I would of sent him a registered letter giving him so many days to pay the car off. Then have a public auction on a certain date to sell the car. What does Colorado require?
Expert:  TJ, Esq. replied 6 months ago.

Hello again.

First and foremost is the timeliness of the notice:

Colo. Rev. Stat. Ann. § 4-9-612 (West)

(a) Except as otherwise provided in subsection (b) of this section, whether a notification is sent within a reasonable time is a question of fact.

(b) In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.

Next is the contents of the notice:

Colo. Rev. Stat. Ann. § 4-9-614 (West)

(a) In a consumer-goods transaction, the following rules apply:
(1) A notification of disposition must provide the following information:
(A) The information specified in section 4-9-613(1);
(B) A description of any liability for a deficiency of the person to which the notification is sent;
(C) A telephone number and mailing address from which the amount that must be paid to the secured party to redeem the collateral under section 4-9-623 is available; and
(D) A telephone number and mailing address from which additional information concerning the disposition and the obligation secured is available.
(2) A particular phrasing of the notification is not required.
(3) The following form of notification, when completed, provides sufficient information:
[Name and address of secured party]
[Date]
NOTICE OF OUR PLAN TO SELL PROPERTY
[Name and address of any obligor who is also a debtor]
Subject: [Identification of Transaction]
We have your [describe collateral], because you broke promises in our agreement.
[For a public disposition:]
We will sell [describe collateral] at public sale. A sale could include a lease or license. The sale will be held as follows:
Date: ___________________________
Time: ___________________________
Place: ___________________________
You may attend the sale and bring bidders if you want.
[For a private disposition:]
We will sell [describe collateral] at private sale sometime after [date]. A sale could include a lease or license.
The money that we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you [will or will not, as applicable] still owe us the difference. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else.
You can get the property back at any time before we sell it by paying us the full amount you owe (not just the past due payments), including our expenses. To learn the exact amount you must pay, call us at [telephone number] or write us at [secured party's address].
If you want us to explain to you in writing how we have figured the amount that you owe us, you may call us at [telephone number] [or write us at [secured party's address] ] and request a written explanation. [We will charge you $ __________ for the explanation if we have already sent you an explanation of the type requested within the last six months.]
If you need more information about the sale call us at [telephone number] [or write us at [secured party's address] ].
We are sending this notice to the following other people who have an interest in [describe collateral] or who owe money under your agreement:
[Names of all other debtors and obligors, if any]
(4) A notification in the form of paragraph (3) of this subsection (a) is sufficient, even if additional information appears at the end of the form.
(5) A notification in the form of paragraph (3) of this subsection (a) is sufficient, even if it includes errors in information not required by paragraph (1) of this subsection (a), unless the error is misleading with respect to rights arising under this article.

Does that help?

Expert:  TJ, Esq. replied 6 months ago.

Hello again. I didn't hear back from you, so I'm just checking in to make sure that you don't need more help on this issue.