Once the goods have been repossessed, a post possession notice should be personally served on the debtor, advising him/her of the value of the chattel and the intention to sell, unless full payment of the outstanding account is made. At the time of service our agent will attempt to have the debtor sign a consent to sell form which will eliminate the 15 day waiting period, and complete an automatic payment authority for any shortfall payment incurred.
If the post possession notice brings no response, the chattel should be sold. If you request, we will then attempt to collect the total outstanding shortfall balance by cash or bank cheque. If this is not possible, suitable arrangements will be made by way of automatic payment authority. payments collected can be paid directly into your bank account or placed into our trust account and monitored for collection, upon your request.