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Home / Opinion Digests / Creditor’s Rights – Deficiency Balance – Heavy Equipment – Tenn. Law (access required)

Creditor’s Rights – Deficiency Balance – Heavy Equipment – Tenn. Law (access required)

In this creditor’s suit for deficiency balances remaining after repossession and sale of several pieces of heavy machinery purchased by defendant, the Lynchburg U.S. District Court grants summary judgment to the creditor. Defendant defaulted on all three contracts by failing to make the required payments. Plaintiff repossessed the machines and, after providing notice to defendant, sold ...