Court Rules In Favor Of Debtor Over UCC Error
ST. LOUIS — The Missouri Court of Appeals Eastern District has found in favor of a man who claimed that a lender that provided him financing of two vehicles failed to give proper notice as required by the Uniform Commercial Code when it repossessed them and sought a deficiency judgment.
According to the Feb. 27 ruling, Show-Me Credit Union had taken action against Dustin Mosely when he stopped making payments for the cars it financed for him. Show-Me argued that it sent Mosely a right to cure letter containing statutory notices and that he voluntarily surrendered the cars. It also claimed that it later sent Mosely a statutory notice of intent to sell the two cars and that after selling them and applying payments and credits due to Mosely, $12,535.96 remained due on his account.
