Legal Question in Banking Law in Missouri

Hidden Collateral

What action can be taken on a person that his hiding collateral from a bank looking to reposses?


Asked on 5/10/07, 2:16 pm

2 Answers from Attorneys
Regina Mullen Legal Data Services, PLC

Re: Hidden Collateral

Well...you can eventually be hauled into court and found in contempt. When they find it, they're gonna take it, so here's an idea: just give it up in a safe way, so that you're not stuck when they eventually catch up with you.

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Answered on 5/12/07, 5:01 pm
David Anderson Anderson Business Law LLC

Re: Hidden Collateral

Bring an action under the Note and Security Agreement.

Are you the lender?

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Answered on 5/10/07, 3:46 pm


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