A secured party may be liable to a debtor for failing to comply with the debtor's request for confirmation of the amount of an unpaid debt.

Question

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Under the Uniform Commercial Code (UCC), a secured party must comply with a debtor's reasonable request for an accounting of the unpaid debt or for a list of collateral securing the debt. Failure to comply can make the secured party liable for damages.

A Secured Party May Be Liable to a Debtor for Failing