Section 9-601 and 602 of the UCC's Article 9 explicitly states the rights of a secured party following default:
- The secured party can enforce the claim via available judicial procedure.
- The secured party can reduce the claim to judgment.
- The secured party can take possession of the collateral.
- If agreed, the debtor may be required to assemble the collateral or otherwise make it available to the secured party at a reasonably convenient and specifically designated location.
- The secured party can lease, license, or sell collateral.