Bass and Associates is ramping it up [1 Attachment]
Posted: Tue Feb 21, 2012 3:29 pm
I have had HSBC reps show up at 341s. They ask the usual questions:
Do you still have the property?
What condition is it in?
On Feb 21, 2012 2:10 PM, "John D. Faucher"
wrote:
> **
>
> [Attachment(s) from John D. Faucher included
> below]
>
> Client has two TV's and some Wii hardware purchased at Best Buy almost
> three years ago. Total cost at purchase was less than $1,200. Bass and
> Associates has been very aggressive about either getting the collateral
> back or having her reaffirm. I told her not to do either. After the fifth
> phone call from Bass, I asked for the security agreement; it merely says "I
> grant HSBC a security interest in the collateral." So I wrote back and
> said this doesn't grant a perfected security interest in the collateral
> under California law.
> Bass took offense at my assertion, and has thrown cases at me; see
> attached.
> I'll recommend that the client sit tight, because Bass will still have to
> file suit to replevy this merchandise. Alternatively, she could redeem > I'll point out to her that she can get some quotes for how much value there
> is in a three-year-old TV, and offer that to HSBC.
> To Bass, I'm going to ignore; if they want to sue, go ahead. I want them
> to go through the hoops of working to get this collateral.
> Takeaway for us: it appears Bass & Associates is trying harder to counter
> our effectiveness at getting debtors out of debt.
>
> John D. Faucher
> Hurlbett & Faucher, LLP
> 5743 Corsa Ave., Suite 208
> Westlake Village, CA 91362
> (818) 889-8080
> Fax: (805) 367-4154
> http://www.hurlbettfaucher.com/
>
> 3324 State Street, Suite O
> Santa Barbara, CA 93105
> (805) 963-9111
>
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I have had HSBC reps show up at 341s. They ask the usual questions:
Do you still have the property?
What condition is it in?
On Feb 21, 2012 2:10 PM, "John D. Faucher" <j.d.faucher@sbcglobal.net> wrote:
[Attachment(s) from John D. Faucher included below]
Client has two TV's and some Wii hardware purchased at Best Buy almost three years ago. Total cost at purchase was less than $1,200. Bass and Associates has been very aggressive about either getting the collateral back or having her reaffirm. I told her not to do either. After the fifth phone call from Bass, I asked for the security agreement; it merely says "I grant HSBC a security interest in the collateral." So I wrote back and said this doesn't grant a perfected security interest in the collateral under California law.
Bass took offense at my assertion, and has thrown cases at me; see attached. I'll recommend that the client sit tight, because Bass will still have to file suit to replevy this merchandise. Alternatively, she could redeem I'll point out to her that she can get some quotes for how much value there is in a three-year-old TV, and offer that to HSBC.
To Bass, I'm going to ignore; if they want to sue, go ahead. I want them to go through the hoops of working to get this collateral. Takeaway for us: it appears Bass & Associates is trying harder to counter our effectiveness at getting debtors out of debt.
The post was migrated from Yahoo.