Document ID: chunk:federal_register_of_legislation:F2024C00882:schedule:1:p28
Version: federal_register_of_legislation:F2024C00882
Segment Type: schedule
Provision Reference: sch 1 (pt 28/40)
Character Range: 456919–459513

date of this notice. The second is the amount required calculated 21 days from that date. Any difference is the result of further payments or charges that fall due between the 2 dates.
 1 Amount required to pay out
  the credit contract on   /   /     $

 2 Amount required to pay out
  the credit contract on   /   /     $

If you do nothing, you will lose the goods.

Sale of goods
  The law says that the credit provider must get the best price reasonably obtainable for the goods.
  If you want to, you can introduce a buyer to the credit provider. This has to be done in writing within 21 days after the date of the notice you receive and the buyer must be willing to pay the credit provider's estimate of the value of the goods or any greater amount for which the credit provider has obtained a written offer to buy the goods.
  The credit provider must offer to sell the goods to the buyer you have introduced.
  Your letter introducing the buyer has to reach the credit provider before the goods are sold. If you post the letter, it is best to send it by certified or registered mail then you can check that it was delivered. If you take it to the credit provider's office, you should get an employee to sign and date something to say that your letter has been received. Make sure you keep anything that was signed by the employee.
  Once the 21 day period has expired, the credit provider must sell the goods as soon as reasonably practicable unless—
           * you and the credit provider agree on some other time for sale; or
           * legal proceedings have been taken which prevent the sale.
  As mentioned above, the goods must be sold for the best price reasonably obtainable.

Finalising the contract
  As soon as the goods are sold, the total amount payable under the contract becomes due. However, the credit provider will have to deduct from what you owe any amount the credit provider gets for the goods less—
           * the amount owing under your mortgage (which can not be more than the amount owing under the contract); and
           * any amount owing under a prior mortgage of the goods; and
           * any amount owing under a subsequent mortgage of the goods which the credit provider knows about; and
           * the credit provider's reasonable expenses of enforcing the mortgage.
  After the goods are sold, the credit provider must give you a notice setting out certain information including—
           * what the sale price was; and
           * the net proceeds of the sale after the amounts mentioned above have been deducted; and
           * the