Consumer has car loan with small balance - delinquent and "in demand". Can the bank:
1-Sell the car to an interested party for the loan balance? If so, is there some notice to give the customer? Do we just repo the car and sell it? Do we have to give the customer 30 days to redeem?
2-Let a car dealer buy the note, pick up the car, and sell it himself? Do we have to give the customer notice that the note has been sold?
------Can someone help me out?------