Foster v. Ford Motor Credit Co.

Gregory, Chief Justice:

This case is before us on a writ of certiorari to review the Court of Appeals’ decision reported at 299 S.C. 65, 382 S.E. (2d) 254 (Ct. App. 1989). We reverse.

Petitioners James and Irene Foster each purchased an automobile and signed a retail installment contract granting the seller a security interest in the vehicle. The seller assigned its security interest in each vehicle to respondent Ford Motor Credit Company (Ford). After both James and Irene defaulted on their payments, respondent American Lender’s Service (Lender’s) repossessed the vehicles for Ford.

The Fosters…