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Chapter 9 Texas UCC Secured Transactions | Brownsville Secured Transactions Attorney
Secured transactions are vital to the operation of any economy, especially one as old and stable as that of Brownsville, Texas. Brownsville's economy is one of the most stable and vibrant economies in the area. It supports significant volumes of secured transactions which often require the assistance and counsel of an experienced Cameron County commercial attorney.
A secured transaction is a loan or a credit transaction in which the lender acquires a security interest in collateral owned by the borrower and is entitled to foreclose on or repossess the collateral in the event of the borrower’s default. Whenever the creditor takes a security interest in the items purchased, a purchase money security interest is formed. The terms of the relationship are governed by a contract, or security agreement. A common example would be a consumer who purchases a car on credit. If the consumer fails to pay, the lender will take the car and resell it, applying the proceeds of the sale toward the loan. Mortgages and deeds of trust are another example. In Brownsville, secured transactions in personal property are governed by Chapter 9 of the Texas UCC. Some common areas of litigation include:
| Pay Day Loan Disputes | Car Title Loan Disputes | Pawn Shop Disputes |
| Disputes Over the Priority of Security Interests | Disputes Over Repossession | Lay Away Purchase Disputes |
| Rent To Own Purchase Disputes | Agricultural Liens | Disputes Over the Value of Collateral |
| Default | Purchase Money Security Interest Transactions | The Consignments by Creditor |
| Filing Statement Disputes | Disputes Regarding After Acquired Property | Promissory Note Dispute |
Secured Transactions are Complex
The law treats differently those creditors who are secured (i.e. have an authenticated, perfected security interest) from those creditors who are unsecured. An unsecured creditor is simply a person who is owed money and has not received payment according to the terms of the agreed upon transaction. Upon default of a debtor who has multiple creditors, the distinction between being a secured creditor and an unsecured creditor is huge in the eyes of the law. The secured creditor will generally always have priority to getting his money before the unsecured creditors do. In other words, the unsecured creditor is at the back of the line of priority - his only remedy is to obtain a judgment from the court for the amount of the defaulted loan.
Brownsville Commercial Lawyers Can Help You With Secured Transactions
Disputes can and do arise regarding secured transactions. Disputes arise when creditors unlawfully attempt to repossess property. If a creditor has improperly tried to repossess your property, Chapter 9 of the Texas UCC may provide you with protection. According to Chapter 9, if it is established that a secured party is not proceeding properly, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. Brownsville Commercial lawyers know this area of law and can provide much needed insight to both buyers and sellers in dealing with secured transactions.
Pawn Shops Deal with Secured Transactions
Any time you pawn something there is a secured transaction. When you pawn something, the pawn shop may have the right to keep the piece of property if you fail to repay the loan. Pawn shops are big in Brownsville, and some pawn shops include:
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Cash America Pawn 124 Security Drive, Brownsville, TX 78521-3204 956-982-0411 www.cashamerica.com |
Ezpawn 1444 International Boulevard, Brownsville, TX 78520 956-546-0886 www.ezpawn.com |
First Cash Pawn 915 International Boulevard, Brownsville, TX 78520 956-550-0770 www.firstcash.com |
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Brownsville Pawn Shop 1030 East Madison Street, Brownsville, TX 78520-5835 956-546-7742 |
Amigo Pawn & Jewelry 636 Central Boulevard, Brownsville, TX 78520-6352 956-548-6659 |
Amigo Pawn & Jewelry 801 Old Port Isabel Road, Brownsville, TX 78521-3557 956-544-5675 |
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Ezpawn 1804 Southmost Road, Brownsville, TX 78521-3753 956-541-7320 www.ezpawn.com |
First Cash Pawn 4244 Southmost Road, Brownsville, TX 78521-4871 956-831-7403 www.firstcash.com |
Amigo Consultants 7384 Padre Island Hwy Brownsville, Texas 956-831-5522 |
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American Pawn Superstore 1034 Fm 802 Brownsville, TX 78526 956-541-4445 |
Cash America Pawn 1634 Central Boulevard, Brownsville, TX 78520-8327 956-504-1632 www.cashamerica.com |
Ezpawn 2115 Boca Chica Boulevard, Brownsville, TX 78521 956-541-9881 www.ezpawn.com |
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Whether you are a debtor or a creditor who deals with secured transactions, you need a qualified Brownsville commercial lawyer in order to achieve your business goals. |
Brownsville Commercial Lawyers Can Understand The Complexity Of Secured Transactions
Chapter 9 of the Texas UCC regulates the behavior of secured parties who hold property, creditors who attempt to repossess property in the event of a debtor’s default. When debtors and creditors in Brownsville disagree about their respective obligations, a Brownsville commercial lawyer is essential to success in business.
Brownsville commercial lawyers are used to dealing with the complexity of Chapter 9 of the Texas UCC and know how to handle secured transactions.
Brownsville Commercial Lawyers Can Help You with Your Needs
Serving clients throughout South Texas, including Aldine, Baytown, Bellaire, Beaumont, Channelview, Cloverleaf, Conroe, Deer Park, Friendswood, Galena Park, Galveston, Hedwig Village, Highlands, Hilshire Village, Humble, Jacinto City, Katy, League City, Magnolia, Mission Bend, Missouri City, Pasadena, Pearland, Porter, Sealy, South Brownsville, Spring Valley, Stafford, The Meadows, The Woodlands, Waller, West University, and other communities in Fort Bend County, Cameron County, and Montgomery County.