Question eric owes 3500 a promissory note to abc finance, Business Management

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Question eric owes 3500 a promissory note to abc finance

Question: Eric owes $3,500 a promissory note to ABC Finance Company. The debt is secured by Eric's 2005 BMW, Eduardo stops making payments and the car is repossessed. ABC sells the car at auction and nets $2,000 from the auction sale. Can ABC recover the $1,500 balance due from Eric? How? Please explain in detail.

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