If you borrow money to purchase a product such as a car, a bank or loan company may take a lien or security interest on the product. If you fail to make one or more installment payments the bank or loan company may be able to repossess that product. Article 9 of the Uniform Commercial Code sets forth laws governing repossession and the sale of repossessed property. There are limits on what a creditor can do to repossess a product from you. For example, a creditor may not break into your garage to reclaim your car. If the repossessed property is sold at a private or public auction to satisfy your debt to the bank, you must receive proper notice of the sale and the sale must be commercially reasonable. If the proceeds from the sale of the product are not enough to satisfy the debt the bank might be able to sue you on the remaining debt. If you run into financial difficulties and anticipate a problem in making payments get legal advice.