QUOTE
DEFAULT
12. DEFAULT. You will be in default and we may terminate this contract early if: (a) you have given false or misleading information on your credit application; (b) you do not make a payment when it is due; ( c ) a lien or other claim is made against this contract or the vehicle; (d) a bankruptcy petition is filed by or against you; (e) the vehicle is seized by any local, state or federal government or authority; (f) you alter or fail to repair or maintain the vehicle as required; (g) you do not maintain the required insurance coverage; (h) you do not comply with any of the contract terms; and/or (i) you breach any promise, representation or warranty you have made in this contract.
You agree to be liable, to the extent allowed by law, for reasonable attorney fees and costs incurred by us as a result of your default. Regardless of any language to the contrary, you are only liable for reasonable attorney fees if we hire an attorney that is not one of our salaried employees.
If you default we may:
Require you to pay the unpaid Amount Financed, the earned and unpaid part of the finance charge, and all other amounts due; sue you to collect the amount you owe; without the use of force or other breach of the peace, enter or have anyone we choose enter the premises where the vehicle may be and, lawfully repossess (take back) the vehicle, including equipment and accessories; take good found in the vehicle and hold them for you for 30 days, and if you do not claim the goods during that period, we can dispose of them and have no liability to you; and cancel any Credit Life, Credit Disability, Guaranteed Automotive Protection Coverage, Extended Warranty, or other optional insurance/;coverage financed under this contract and apply the refunded premium to your outstanding balance.
If we repossess the vehicle, and we are not precluded by law, we will send you a notice stating that you may redeem the vehicle and the amount needed to redeem. To redeem the vehicle, you must pay us the net amount owed under the contract plus all collection and legal costs, including reasonable attorney fees as provided above and court costs, to the extent permitted by applicable law. You may redeem the vehicle, until we sell it. If you do not redeem the vehicle, we may sell it or otherwise dispose of the vehicle, The net proceeds (the money from the sale, less allowed expenses) will be subtracted from the amount you owe us. The allowed expenses are those expenses, fees, and all legal costs that we are entitled to by law as a result of any lawful activity to obtain possession of, recondition, store and dispose of the vehicle after default. If, after we apply the net proceed to what you owe, there is money left, we will pay it to you. If the money from the sale is not enough to cover the amount you owe us, you or anyone who has succeeded to your obligation will pay what is still owed plus the highest lawful rate of interest unless (1) you bought the vehicle primarily for a personal, family or household purpose and (2) the unpaid balance of the contract at the time of default is less than $2,000
12. DEFAULT. You will be in default and we may terminate this contract early if: (a) you have given false or misleading information on your credit application; (b) you do not make a payment when it is due; ( c ) a lien or other claim is made against this contract or the vehicle; (d) a bankruptcy petition is filed by or against you; (e) the vehicle is seized by any local, state or federal government or authority; (f) you alter or fail to repair or maintain the vehicle as required; (g) you do not maintain the required insurance coverage; (h) you do not comply with any of the contract terms; and/or (i) you breach any promise, representation or warranty you have made in this contract.
You agree to be liable, to the extent allowed by law, for reasonable attorney fees and costs incurred by us as a result of your default. Regardless of any language to the contrary, you are only liable for reasonable attorney fees if we hire an attorney that is not one of our salaried employees.
If you default we may:
Require you to pay the unpaid Amount Financed, the earned and unpaid part of the finance charge, and all other amounts due; sue you to collect the amount you owe; without the use of force or other breach of the peace, enter or have anyone we choose enter the premises where the vehicle may be and, lawfully repossess (take back) the vehicle, including equipment and accessories; take good found in the vehicle and hold them for you for 30 days, and if you do not claim the goods during that period, we can dispose of them and have no liability to you; and cancel any Credit Life, Credit Disability, Guaranteed Automotive Protection Coverage, Extended Warranty, or other optional insurance/;coverage financed under this contract and apply the refunded premium to your outstanding balance.
If we repossess the vehicle, and we are not precluded by law, we will send you a notice stating that you may redeem the vehicle and the amount needed to redeem. To redeem the vehicle, you must pay us the net amount owed under the contract plus all collection and legal costs, including reasonable attorney fees as provided above and court costs, to the extent permitted by applicable law. You may redeem the vehicle, until we sell it. If you do not redeem the vehicle, we may sell it or otherwise dispose of the vehicle, The net proceeds (the money from the sale, less allowed expenses) will be subtracted from the amount you owe us. The allowed expenses are those expenses, fees, and all legal costs that we are entitled to by law as a result of any lawful activity to obtain possession of, recondition, store and dispose of the vehicle after default. If, after we apply the net proceed to what you owe, there is money left, we will pay it to you. If the money from the sale is not enough to cover the amount you owe us, you or anyone who has succeeded to your obligation will pay what is still owed plus the highest lawful rate of interest unless (1) you bought the vehicle primarily for a personal, family or household purpose and (2) the unpaid balance of the contract at the time of default is less than $2,000