Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.


28-9-625.  Remedies for secured party’s failure to comply with chapter. (a) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions.
(b)  Subject to subsections (c) and (d) of this section, a person is liable for damages in the amount of any loss caused by a failure to comply with this chapter. Loss caused by a failure to comply may include loss resulting from the debtor’s inability to obtain, or increased costs of, alternative financing.
(c)  Except as otherwise provided in section 28-9-628:
(1)  A person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) of this section for its loss; and
(2)  If the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event, an amount not less than the credit service charge plus ten percent (10%) of the principal amount of the obligation or the time price differential plus ten percent (10%) of the cash price.
(d)  A debtor whose deficiency is eliminated under section 28-9-626 may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under section 28-9-626 may not otherwise recover under subsection (b) of this section for noncompliance with the provisions of this part relating to collection, enforcement, disposition or acceptance.
(e)  In addition to any damages recoverable under subsection (b) of this section, the debtor, consumer obligor or person named as a debtor in a filed record, as applicable, may recover one hundred dollars ($100) in each case from a person that:
(1)  Files a record that the person is not entitled to file under section 28-9-509(a);
(2)  Fails to cause the secured party of record to file or send a termination statement as required by section 28-9-513(a) or (c).
(f)  If a secured party fails to comply with a request regarding a list of collateral or a statement of account under section 28-9-210, the secured party may claim a security interest only as shown in the statement included in the request as against a person that is reasonably misled by the failure.

[28-9-625, added 2001, ch. 208, sec. 2, p. 794.]

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