Advising on Repossession Processes for a National Credit Union
Kegler Brown advised United Federal Credit Union on revising its notices of repossession to be compliant with Ohio laws. This included guidance on the differences between the credit union’s Retail Installment Sales Contracts and regular financing it had on its books. It also included variations based on whether or not the borrower was currently in bankruptcy or had been through a previous bankruptcy and whether or not the repossession was done voluntarily. Our team worked with the credit union to create forms for use by its associates that could be easily (and lawfully) completed during the proper handling of a vehicle repossession in Ohio. In addition, the credit union now uses our firm for subsequent questions on specific repossession matters.