Information on Repossession and Remarketing Issues

Sept 2016


Russ DeWitt, Editor 

President, Capital Adjusters, Inc.

Past President, Nat'l Finance Adjusters


    American Recovery Association

    Recovery Specialist Insurance Group

    Calif. Assn of Licensed Repossessors

Certified Asset Recovery Specialist

Certified Recovery Agent




Changes to UCC Will Change

Auto Lending Practices

Changes to UCC Will Change

Auto Lending Practices





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Repo, Recovery, Repossession, Remarketing, Austin, Texas, Asset, Repossessions, Repos, Repoman, Auto, Delivery, Skip tracing, Auto Repossession, Repossess, Repossessing, Assets,, repossession company in Austin


The National Consumer Law Center (NCLC) is proposing major changes to article 9 of the Universal Commercial Code (UCC) which would materially affect consumer lending and how repossessions are done. If states adopt this latest proposed revision of the UCC, it would dramatically change repossession and lending practices and increase the potential for law suits.

The UCC is a model or recommendation for what a particular state’s commercial code might include; by itself, the UCC has no legal force. However, in practice, every American state has adopted some version of the UCC, and those state versions, known as the states’ commercial codes (for example, the Texas Commercial Code), do have the force of law—in fact, they are laws. Article 9 is the section which covers “Secured Transactions.”

There are so many changes being proposed that to try to list them all here would turn this article into a small book.  You can click on the following link to read the NCLC's proposal in its entirety: Model Consumer Amendments to Uniform Commercial Code Article 9. Below are some of the changes being recommended in this publication.

There are many other proposed changes but the above gives you an idea of what the NCLC is proposing.  Thanks to the diligence of Ed Marcum of Recovery Specialist Insurance Group, this matter has been brought to the attention of the Council of Repossession Professionals (CORP) and thus to each National Repossession Association  and is being further disseminated to the lending industry.

To get an idea of the usual process required to make these changes a reality, you can go to the following websites: Uniform Law Commission and American Law Institute. According to the chief counsel at the ULC the earliest these proposals could be presented for consideration would be at the January 2017 meeting. At that point, a committee would be tasked to study the proposals and make recommendations to the states. This is going to be at least a two-year long project before it could potentially be presented to the states for their consideration.

At this time no proposal has actually been made to the states so no formal action or protest is needed, but in the future we may need to band together to ensure any changes made are reasonable and equitable.

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[email protected].  
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