Can auto lender repo defaulted loan without going to court?
As a general rule of business law, a secured auto lender like you has the right to repossess the vehicle in event of default. This right is contractually stated in your promissory note, and is also part of Florida’s statutory law. But your real question involves the repo procedure. Can you immediately act as repo men, or do you need to first sue the debtor, have a court hearing, and get a judge to sign a repo order?Florida Statutes are secured creditor friendly. Section 679.609, titled “Secured party’s right to take possession after default” gives three basic options to the lender:
(a) Disable the collateral and dispose of it on his premises (requires debtor consent),
(b) Repossess property pursuant to a court order,
(c) Repossess without judicial process, if done “without breach of the peace.”
Section 679.610, titled “Disposition of collateral after default” allows the secured lender to sell the collateral at a public or private sale. The lender can be the purchaser. The sale must be conducted in a “commercially reasonable” manner. And Section 679.608(d) makes the borrower liable for any sales deficiency.
Drug sting leads police to $600000 in tax refund debit cards
With tax season in full force, police say tax fraud is continuing full-steam ahead among street criminals.
Detectives investigating suspected drug dealers during the weekend uncovered an income tax refund fraud scheme where hundreds of identities had been stolen, according to Tampa police. Investigators seized an estimated $600,000 worth of pre-loaded debit cards, more than $32,000 in fraudulent tax return checks and nearly $15,000 in cash.
They also found a cardboard box with ledgers and personal information for hundreds of people, police said.
"This is a perfect example of what we're up against," said Detective Sal Augeri, who is overseeing the department's investigation into the explosion in tax fraud. "Now you have bad guys dealing with the typical crimes that they do, but they also have the added benefit of the added cash surplus of the refund fraud which, in my opinion, makes them more dangerous."
Tax refund fraud has exploded among street criminals across the U.S., but particularly in the Tampa area in recent years. Known in street parlance as TurboTax for the popular online filing program, the fraud involves the use of stolen Social Security numbers and other information to file tax returns that include falsified income amounts and deductions used to secure fraudulent refunds.
