Illinois Statutes Chapter 810. Commercial Code § 5/9-616. Explanation of calculation of surplus or deficiency

(A) states whether a surplus or deficiency is owed and the amount of the surplus, if applicable;

(B) states, if applicable, that future debits, credits, charges, including additional credit service charges or interest, rebates, and expenses may affect the amount of the surplus or deficiency;

(C) provides a telephone number or mailing address from which the debtor or consumer obligor may obtain additional information concerning the transaction and from which such person may request the amount of the deficiency and further information regarding how the secured party calculated the surplus or deficiency; and

(D) at the sender's option, the information set forth in subsection (c).

(A) authenticated by a debtor or consumer obligor;

(B) requesting that the recipient provide information of how it calculated the surplus or deficiency; and

(C) sent after disposition of the collateral under Section 9-610.

(A) before or when the secured party accounts to the debtor and pays any surplus or first makes written demand on the consumer obligor after the disposition for payment of the deficiency, other than in instances in which such demand is made by a third-party debt collector covered by the Fair Debt Collection Practices Act;  1 and

(B) within 14 days after receipt of a request made by the debtor or consumer obligor within one year after the secured party has given an explanation under this Section or notice to such debtor or consumer obligor under Section 9-614 of this Article; or

(A) if the secured party takes or receives possession of the collateral after default, not more than 35 days before the secured party takes or receives possession; or

(B) if the secured party takes or receives possession of the collateral before default or does not take possession of the collateral, not more than 35 days before the disposition;