What is the name of your state? Minnesota, property to repo in New Mexico
I'm a general business practice attorney in Minnesota. My employer sold a product of ours to a company in New Mexico. The customer hasn't kept up with the payments. The product is a very heavy piece of business equipment that would require a couple days to prepare to move, it was leased and there is a UCC filing on it.
I've been given the order from on high to oversee getting the thing picked up. What's the best course of action to recover and repossess this asset? (As you may have guessed, I've never done one of these before.) I know that the law generally allows for a simple pick up if there will be no BP created, and the customer has already said "If you want to pick the thing up, I won't stop you", but I don't want to order our truck sent all the way down there at great expense with a customer who can have a change of heart on a moment's notice.
Do we file an action with the district courts down there in NM, and if so, what? Do we request the presence of the Sheriff after presenting evidence of the delinquency and the UCC filing on the equipment?
I just want to know the cleanest way of doing this, if anyone has experience or knowledge about repossessing assets that are too big to hire a repo man to retrieve.
Thanks in advance!
I'm a general business practice attorney in Minnesota. My employer sold a product of ours to a company in New Mexico. The customer hasn't kept up with the payments. The product is a very heavy piece of business equipment that would require a couple days to prepare to move, it was leased and there is a UCC filing on it.
I've been given the order from on high to oversee getting the thing picked up. What's the best course of action to recover and repossess this asset? (As you may have guessed, I've never done one of these before.) I know that the law generally allows for a simple pick up if there will be no BP created, and the customer has already said "If you want to pick the thing up, I won't stop you", but I don't want to order our truck sent all the way down there at great expense with a customer who can have a change of heart on a moment's notice.
Do we file an action with the district courts down there in NM, and if so, what? Do we request the presence of the Sheriff after presenting evidence of the delinquency and the UCC filing on the equipment?
I just want to know the cleanest way of doing this, if anyone has experience or knowledge about repossessing assets that are too big to hire a repo man to retrieve.
Thanks in advance!