In a consumer goods transaction, the following rules apply:
(1) a notification of disposition must provide the following information:
(A) the information specified in AS 45.29.613 (1);
(B) a description of any liability for a deficiency of the person to which the notification is sent;
(C) a telephone number from which the amount that must be paid to the secured party to redeem the collateral under AS 45.29.623 is available; and
(D) a telephone number or 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) .
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 sent you another written explanation of the amount
you owe us 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 (3) of this section is sufficient even if additional information appears at the end of the form;
(5) a notification in the form of (3) of this section is sufficient even if it includes errors in information not required by (1) of this section unless the error is misleading with respect to rights arising under this chapter;
(6) if a notification under this section is not in the form set out in (3) of this section, law other than this chapter determines the effect of including information not required by (1) of this section.
Section: Previous 45.29.607 45.29.608 45.29.609 45.29.610 45.29.611 45.29.612 45.29.613 45.29.614 45.29.615 45.29.616 45.29.617 45.29.618 45.29.619 45.29.620 45.29.621 NextLast modified: November 15, 2016