eGear is a retail seller of phones, TVs, and other consumer electronic equipment. eGear sells Fiona a $2,400 television set on a retail installment security agreement on which she pays $100 down and agrees to pay the balance in equal installments. eGear retains a security interest in the set, and perfects that interest by filing a financing statement. Two months later, Fiona is in default on the payments to eGear and is involuntarily petitioned into bankruptcy by other creditors. Discuss eGear's right to repossess the TV set or to be paid on the debt.

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The Answer of eGear is a retail seller of phones, TVs, and other consumer electronic equipment. eGear sells Fiona a $2,400 television set on a retail installment security agreement on which she pays $100 down and agrees to pay the balance in equal installments. eGear retains a security interest in the set, and perfects that interest by filing a financing statement. Two months later, Fiona is in default on the payments to eGear and is involuntarily petitioned into bankruptcy by other creditors. Discuss eGear's right to repossess the TV set or to be paid on the debt.

EGear Is a Retail Seller of Phones, TVs, and Other