Common use of WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS Clause in Contracts

WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS. Owner/s Address & Legal Description CT No Security Interest This is secured credit. You give us the security interests set out below. If you fail to meet your commitments under the contract the creditor may be entitled to repossess and sell this property. If the creditor exercises its rights under its security interest and sells this property and the proceeds received from the sale are insufficient to repay the amount outstanding under the loan then you will remain liable for amount outstanding under the loan after the proceeds of sale are applied.

WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS. Owner/s Address & Legal Description CT No Security Interest This is secured credit. You give us the security interests set out below. If you fail to meet your commitments under the contract the creditor may be entitled to repossess and sell this property. If the creditor exercises its rights under its security interest and sells this property and the proceeds received from the sale are insufficient to repay the amount outstanding under the loan then you will remain liable for amount outstanding under the loan after the proceeds of sale are applied.