there was a case i had again early on

when i opened up my own office after

leaving a couple large law firms

and i was representing what’s called a

mesmic a minority enterprise small

business investment company and they

make loans it’s like a bank but they

specialize in making loans

to

smaller minority-owned businesses well

they were not paying on the loan they’re

defaulting and typically what you do

is you will go ahead and do a demand

letter then you’ll file a complaint and

you’ll give them 30 days to respond and

maybe you’re going to seek a writ of

attachment we feared if we did all of

that all the collateral that belonged to

the sba

would be spirited away so what i did

is there is a provision in the ucc that

allows for self-help repossession so

just to make this a little bit nicer i

did up a document called notice of

repossession i made it look like it was

a formal document but i said it was

under that code section i filled in the

blanks like it was a formal document i

had it on legal size paper so it looked

more legal i had my signature notarized

so now it’s really looking legal so

after having a notice of repossession

prepared and ready to go i went to the

irvine police department and i told them

i needed someone to accompany me to make

sure there’s not a breach of the peace

when we did this self-help repossession

they said okay we’re going to go to make

sure you don’t preach your piece mr

callahan

and officer cluck i always remember that

name came with me my videographer was

there as well when we pulled up with our

flatbed truck and our forklift on it

we came in like a v right coming in

three of us and a videographer shooting

people get that guy over there get this

guy over there then uh people met us at

the doors to the warehouse i said i’m

here i represent this sba and we’re here

to repossess your collateral has given

to the sba and now that you’re ceo he’s

going down and if you want to go down

with him you can go down too but if you

don’t i will tell you right now i will

not pursue you personally if you can

stand here and identify all the

collateral that belongs to the sba he

went ahead okay and he pointed out this

and that and this and that and this and

we’re just loading that flatbed truck

until our forklift ran out of gas

give me a break

but they had identified a forklift so we

used their forklift picked up our

forklift put on the flatbed truck and

completed

the clearing out of the warehouse with

all the collateral we had

i then

went out for a beer with my client went

back to my office i got a call from a

lawyer he’s a lawyer for that dinner and

he said what what happened and i

explained he says

are you telling me all they had to do

was say no

i said yeah he goes

congratulations on your sting