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Frequently Asked Questions

  • What is Redemption?
    Redemption is a legal term that describes a debtor’s action of reclaiming collateral that a creditor took legal possession of pursuant to the terms of a secured loan. Typically, a … more
  • What is the Retail Installment Sales Financing Act?
    A Retail Installment Sales Financing Act is a state law that governs retail installment contracts. A retail installment contract is one where the lender maintains title to the property, such … more

Legal Articles

  • Common Contract Terms Explained
    In every contract there are invariably a slew of legal terms and conditions that, regardless of the contract’s purpose, go unchanged and often unchecked by the contracting parties. These terms and conditions are often referred to as the contract’s “boilerplate” language.  Most people don’t give these sections a second thought, and it’s typically a … more
  • How Can a Creditor Repossess Property?
    Many Americans experience a time when their financial obligations become overwhelming and they are unable to pay all of their outstanding obligations on time. A debtor who defaults on a secured loan may face the threat of property repossession. A creditor can repossess property only if the creditor has a valid security interest in that property and if the creditor follows the proper … more

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