Consumers have reported to us that their boat, motorcycle or RV have been unfairly repossessed by Marine One Acceptance Corporation. Marine One specializes in motorboat financing for people with “less than perfect credit” seeking to purchase newer, small boats, livestock trailers, recreational vehicles and motorcycles. On the Marine One website, it states that Marine One provides financing for “good people with blemished credit.” Marine One is a non-prime lender that operates in 26 states, including Oklahoma.
Consumers have reported that after missing a payment, Marine One has hired a repossession company that repossessed their boat, RV, livestock trailer or motorcycle without providing any notice. This is often done under the cover of night, and repo companies hired by Marine One have even been accused of removing fences to unlawfully gain access to property where the boat was safely stored.
After any repossession, a financing company has a duty under Article 9 of the Uniform Commercial Code to notify the consumer that the financing company intends to sell the property. This written notice must provide the consumer with information regarding the consumers right to an accounting, as well as information regarding how Marine One intends to dispose of the property. If the financing company plans to dispose the property through an auction, it must notify the consumer where and when such auction should take place.
Consumers have reported that Marine One has failed to provide them with the information required under the law, but continued report on to the consumer’s credit reports that a balance is still owed to Marine One for a deficiency. The failure to provide this written information to the consumer is a violation of the UCC, which entitles the consumer to monetary damages.
If your boat has been repossessed by Marine One, or if you see Marine One is reporting to your credit, Paramount Law would like to hear from you. If we decide to take your case, we are able to do this without charging you anything out of your pocket, so there is no cost to you for our legal help. For quickest assistance, please call our office or use the webform on the right side of this page to get in touch with our attorneys.