Heres the info, you want !



79.5030 Secured party's right to take possession after default. Unless otherwise agreed a secured party has on default the right to take possession of the collateral. In taking possession a secured party may proceed without judicial process if this can be done without breach of the peace or may proceed by action. If the security agreement so provides the secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties. Without removal a secured party may render equipment unusable, and may dispose of collateral on the debtor's premises under ORS 79.5040. [1961 c.726 s.79.5030]

79.5060 Debtor's right to redeem collateral. At any time before the secured party has disposed of collateral or entered into a contract for its disposition under ORS 79.5040 or before the obligation has been discharged under ORS 79.5050 (2) the debtor or any other secured party may unless otherwise agreed in writing after default redeem the collateral by tendering fulfillment of all obligations secured by the collateral as well as the expenses reasonably incurred by the secured party in retaking, holding and preparing the collateral for disposition, in arranging for the sale, and to the extent provided in the agreement and not prohibited by law, the reasonable attorney fees and legal expenses of the secured party. [1961 c.726 s.79.5060]

Compulsory Sale If the debtor has paid 60 percent of the cash price in the case of a purchase money security interest in consumer goods or 60 percent of the loan in the case of another security interest in consumer goods, and has not signed after default a statement renouncing or modifying the debtor's rights under ORS 79.5010 to 79.5070 a secured party who has taken possession of collateral must dispose of it under ORS 79.5040 and if the secured party fails to do so within 180 days after the secured party takes possession the debtor at the debtor's option may recover in conversion or under ORS 79.5070 (1) on secured party's liability. 79.5050

Acceptance as Discharge In any other case involving consumer goods or any other collateral a secured party in possession may, after default, propose to retain the collateral in satisfaction of the obligation. Written notice of such proposal shall be sent to the debtor if the debtor has not signed after default a statement renouncing or modifying the debtor's rights under this subsection. In the case of consumer goods no other notice need be given. In other cases notice shall be sent to any other secured party from whom the secured party has received (before sending the secured party's notice to the debtor or before the debtor's renunciation of the debtor's rights) written notice of a claim of an interest in the collateral. If the secured party receives objection in writing from a person entitled to receive notification within 21 days after the notice was sent, the secured party must dispose of the collateral under ORS 79.5040. In the absence of such written objection the secured party may retain the collateral in satisfaction of the debtor's obligation. [1961 c.726 s.79.5050; 1973 c.504 s.35; 1981 c.573 s.1] 79.5050
Sale and Application of Proceeds A secured party after default may sell, lease or otherwise dispose of any or all of the collateral in its then condition or following any commercially reasonable preparation or processing. The proceeds of sale are applied in the order following to reasonable expenses of retaking, holding, preparing for sale or lease, selling, leasing and the like and, to extent provided for in agreement and not prohibited by law, reasonable attorney fees and legal expenses incurred by secured party. Proceeds are then applied to satisfaction of debt secured by security interest under which the sale is made. See Oregon Revised Statutes

Subordinate Liens If proceeds remain, they would next apply to satisfaction of debt secured by any subordinate security interest in the collateral if written notice of demand is received before distribution of proceeds is completed. If requested by secured party, holder of a subordinate security interest must seasonably furnish reasonable proof of interest of holder, and unless holder does so, secured party need not comply with demand of holder. See Oregon Revised Statutes

Accounting and Deficiency If security interest secures an indebtedness, secured party must account to the debtor for any surplus, and, unless otherwise agreed, the debtor is liable for any deficiency. See Oregon Revised Statutes 79.5040

Public or Private Sale After Notice Disposition of the collateral may be by public or private proceedings and may be at any time and place and on any terms, but every aspect of the disposition including method, manner, time, place and terms must be commercially reasonable. Unless collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, reasonable notification of the time and place of any public sale or reasonable notification of the time after which any private sale or other intended disposition is to be made shall be sent by the secured party to the debtor, if the debtor has not signed after default a statement renouncing or modifying the right of the debtor to notification of sale. In the case of consumer goods no other notification need be sent. In other cases notification shall be sent to any other secured party from whom the secured party has received (before sending notification to the debtor or before the debtor's renunciation of rights) written notice of a claim of an interest in the collateral. See Oregon Revised Statutes 79.5040
Guarantors and Others Liable A person who is liable to a secured party under a guaranty, indorsement, repurchase agreement or the like and who receives a transfer of collateral from secured party or is subrogated to rights of secured party thereafter has the rights and duties of secured party. Such transfer is not considered a sale of the collateral under ORS 79.1010 to 79.5070 and 79.8010. See Oregon Revised Statutes 79.5040

Next question is what a secured loan-my name is the only one on the pink slip-but private party name is not-but they have a letter -that states I owe so much for the car,how much per month but no date due. Are they able to come to my home a take the car? I have had some lawyer say no -with out there name on the pink -it not a secure loan--please help -and where I can found these out the law in Oregon

No they can not take it without there name on the pink slip this is the law!

If you have the title and your name is the only one on there with no other names or companies on it then it is your car and they can not take it. that would be grand theft auto.

Can they just come and take your car in oregon. without any notice.I never got anotice to contact them or they never call me. should'nt i have got aletter first? workingmom10@hotmail.com

Can a bank just come and take your car with out any notice or phone call, to work out arranment. because i had no notice they just showed up. i was only one payment behind.

I need to know if i can take a car that is in my name off my parents property? the car is in my name things just went sour between family and me. please help