Statement of pay out figure upon request Despite section 171, the statement need only be given to a joint debtor or guarantor who requests it. Deductions from proceeds of sale of surrendered goods. The credit provider may also deduct from the proceeds of sale its reasonable expenses incurred in connection with the possession and sale of the goods. Notice to be given following sale of surrendered goods. The notice must include the 'net amount required to pay out the credit contract or guarantee' rather than 'the net amount due under the credit contract'.
Default notices to debtors who are also mortgagors.
Makes it clear that only one notice is necessary to a debtor who is also a mortgagor and that in that case the CCC default notice can be combined with notices under other laws. A credit provider must give written notice of the conditions of a negotiated postponement within 30 days. A default notice will be of no effect if there is a negotiated postponement. Makes it clear that enforcement expenses include those incurred by the use of the staff and facilities of the credit provider. If there is a dispute the Court may determine the amount of enforcement expenses that may be recovered.