CJ-2020-1022 - Oklahoma Federal Credit Union v. Fredrick C. Snider

What's This Case About?

Let’s get one thing straight: this isn’t just a story about a man who didn’t pay his bike loan. This is a Ducati we’re talking about—a 2018 Panigale, a sleek, Italian-engineered beast that looks like it was designed by Satan’s favorite mechanic. And now, because Fredrick C. Snider allegedly stopped making payments, Oklahoma Federal Credit Union (OFCU) is suing him for $12,477.13, demanding not just cash but the location of the motorcycle, like this is a Fast & Furious missing vehicle investigation. Yes, you read that right—the credit union wants the court to order Snider to tell them where the bike is, as if he’s hiding it in a garage in Tijuana or using it to smuggle espresso beans across state lines.

So who is Fredrick C. Snider? Based on the filing, he’s a guy from Oklahoma City who, on March 8, 2018, signed a contract with OFCU to borrow $15,033.00—ostensibly to buy that 2018 Ducati Panigale, a high-performance superbike that starts around $20,000 and can hit 180 mph if you’re brave (or dumb) enough. The loan came with a spicy 11.75% annual interest rate—because apparently, financing a motorcycle that could outrun a police cruiser isn’t cheap. The credit union didn’t just hand over the cash and hope for the best, though. They made Snider sign a Security Agreement, giving them a lien on the bike. Translation: the Ducati wasn’t fully his until the loan was paid. OFCU even filed the paperwork with the Oklahoma Tax Commission to officially record their claim, like putting a “Do Not Touch” sign on a museum exhibit. For all we know, Snider may have taken delivery of the bike with a side of paperwork that said, “By revving this engine, you acknowledge that Oklahoma Federal Credit Union legally owns your soul until further notice.”

Now, here’s how things went off the rails. According to the credit union, Snider stopped paying. That’s it. No dramatic crash. No viral TikTok of him doing wheelies into a lake. Just… silence. No more $334 monthly payments. By February 4, 2020—when this lawsuit was filed—the balance owed had dropped from the original loan amount to $12,477.13, likely because Snider had made some payments before ghosting the credit union. But now, OFCU says, he’s in default, and they want their money—or the motorcycle. Or both. They even ran a military check (because the Servicemembers Civil Relief Act protects active-duty personnel from certain legal actions), and confirmed Snider isn’t in the military. The Department of Defense’s database came back with a shrug—“multiple records, can’t confirm”—but the credit union still certified he’s not serving, so the lawsuit rolls on.

Why are they in court? Because OFCU wants three things, and none of them involve chill vibes or a payment plan. First, a money judgment for $12,477.13, plus ongoing interest at that juicy 11.75% rate—meaning the longer this drags on, the more Snider owes, possibly until he’s paying more in interest than the bike is worth. Second, they want the court to order Snider to disclose where the motorcycle is. This is wild. It’s not just “repossess the collateral”—it’s “tell us where it is,” as if the credit union suspects Snider is keeping it in a secret underground lair or using it as collateral for a second loan to buy a second Ducati. Third, they want a court decree confirming their ownership interest in the bike is superior to Snider’s—which would allow them to legally repossess and sell it, presumably to some other fool who dreams of Italian horsepower.

Now, let’s talk about the $12,477.13. Is that a lot? In the world of motorcycle loans, it’s not outrageous—especially for a Ducati. But let’s be real: this isn’t a Honda Civic. This is a luxury item, a status symbol, the kind of bike you buy when you want to feel like a villain in a summer blockbuster. And the interest rate? 11.75% is steep. For comparison, average auto loan rates in 2018 were around 5% for good credit. So Snider was paying nearly double the norm—possibly because he didn’t have the best credit, or because financing a Ducati through a credit union is like buying a diamond with a payday loan. The total finance charge on the loan? $4,903.09. So for the privilege of riding a $15,000 bike, he was on the hook for nearly $20,000 total. That’s not just interest—that’s a lifestyle tax.

What’s especially juicy here is the credit union’s tone. They’re not just asking for money. They’re demanding the whereabouts of a motorcycle like they’re filing a missing persons report. “Your Honor, we believe the defendant knows the location of the 2018 Ducati Panigale, VIN#ZDM14B1W6JB006371, and we request he be compelled to disclose it.” It’s equal parts hilarious and dystopian. Are they worried he’s riding it in Mexico? Did he list it on Craigslist under “mystery bike, no title, cash only”? Or is this just standard legal CYA—cover your assets—because if the bike vanishes, their collateral is gone, and they’re stuck with a judgment that might be impossible to collect?

And yet, here’s the thing: we don’t know Snider’s side. Maybe he lost his job. Maybe the bike was stolen. Maybe he paid every penny and the credit union’s records are glitched. The filing doesn’t say. All we have is OFCU’s version: “He borrowed, he defaulted, he owes.” But still—$12,477 isn’t chump change, but it’s not life-ruining either. For a Ducati owner, it’s less than the cost of a single track day with professional coaching. So why not just hand over the keys? Why let it go to court?

Our take? The most absurd part isn’t the lawsuit—it’s the idea that a grown adult needed to borrow $15,000 to buy a motorcycle he clearly couldn’t afford, and now a credit union is treating the bike like it’s the Holy Grail. But also—shoutout to OFCU’s legal team for going full detective mode. “We demand the defendant reveal the location of the collateral.” It’s like they’re preparing for a National Treasure sequel where the clue is hidden in the Ducati’s oil filter. We’re not rooting for the credit union. We’re not rooting for Snider. We’re rooting for someone—anyone—to just ride the damn bike to court and settle this the old-fashioned way: with a drag race for ownership. Winner takes the title. Loser pays the lawyer. And the rest of us get popcorn.

Case Overview

$12,477 Demand Petition

Jurisdiction

District Court of Oklahoma County, Oklahoma

Filing Attorney

Joel C. Hall and Jeffery S. Ludlam

Hall & Ludlam, PLLC

Relief Sought

$12,477 Monetary

Plaintiffs

Oklahoma Federal Credit Union business
Rep: Joel C. Hall and Jeffery S. Ludlam of Hall & Ludlam, PLLC

Defendants

Fredrick C. Snider individual

Claims

#	Cause of Action	Description
1	-	-

Petition Text

1,944 words

IN THE DISTRICT COURT OF OKLAHOMA COUNTY STATE OF OKLAHOMA OKLAHOMA FEDERAL CREDIT UNION Plaintiff, vs. FREDRICK C. SNIDER, Defendant. Case No. PETITION Plaintiff, Oklahoma Federal Credit Union ("OFCU"), for its cause of action against the defendant, Fredrick C. Snider ("Defendant"), alleges and states as follows: 1. On or about March 8, 2018, Defendant executed a Contract (hereinafter referred to as the "Contract"), by which Defendant became obligated to pay OFCU the principal amount of $15,033.00, plus interest at 11.7500% per annum, according to the terms of the Contract. A copy of the Contract is attached hereto as Exhibit "A". 2. As part of the Contract and to secure the performance of Defendant, Defendant executed a Security Agreement by which Defendant granted OFCU a security interest in a 2018 Ducati Panigale; VIN#ZDM14B1W6JB006371 (hereinafter referred as the "Collateral"). OFCU properly perfected its security interest in accordance with Oklahoma law. A copy of the Lien Entry is attached hereto as Exhibit "B". 3. Defendant has failed to pay pursuant to the terms of the Contract, despite demand by OFCU, and is therefore in default under the Contract and Security Agreement. 4. As of February 4, 2020, the balance due on the Contract was $12,477.13. 5. OFCU is entitled to reasonable attorney's fees and its reasonable costs of collection under the terms of the Contract and Security Agreement and under 12 O.S. §936. 6. Pursuant to the Servicemember’s Civil Relief Act of 2003, OFCU has reviewed the Department of Defense website and determined Defendant is not in the military. See the Affidavit attached hereto as Exhibit “C”. WHEREFORE, Oklahoma Federal Credit Union prays: (a) that this Court enter money judgment for OFCU and against Defendant in the amount of $12,477.13, plus interest since February 4, 2020, at a rate of 11.7500% per annum until paid, plus OFCU's court costs and a reasonable attorney's fee; (b) issue an Order for Defendant to appear and disclose the location of the Collateral; and (c) that this Court render judgment in favor of OFCU and against the Defendant for possession of the Collateral, decreeing that OFCU's interest in the Collateral is senior and prior to the interest of Defendant in the Collateral, and authorizing the foreclosure of OFCU's security interest in the Collateral. Respectfully submitted, [signature] Joel C. Hall, OBA #13643 Jeffery S. Ludlam, OBA #17822 HALL & LUDLAM, PLLC 210 Park Ave, Suite 3001 Oklahoma City, OK 73102 (405) 600-9500 Telephone (405) 600-9550 Facsimile [email protected] OKLAHOMA FEDERAL CREDIT UNION 517 NE 36th Street Oklahoma City, OK 73105-2511 LOAN DATE 03/08/2018 LOAN NUMBER GROUP POLICY NUMBER 035-0105-6 MATURITY DATE 03/13/2023 BORROWER 1 NAME AND ADDRESS FREDRICK C SNIDER OKLAHOMA CITY, OK 73120-7013 Loan and Security Agreements and Disclosure Statement BORROWER 2 NAME AND ADDRESS IF DIFFERENT FROM BORROWER 1 TRUE LIN LIN DISCLOSURE means an estimate ANNUAL PERCENTAGE RATE The cost of your credit as a yearly rate. 11.750 % FINANCE CHARGE $ 4,903.09 Amount Financed $ 11,833.09 Total of Payments $ 15,978.31 Total Sale Price The total cost of your purchase on credit is $ which includes your downpayment of $ 0.00 Your Payment Schedule Will Be: Number of Payments Amount of Payment Amount Financed 59 $ 334.00 1 $ 269.31 Prepayment: If you pay off early you will not have to pay a penalty. Required Deposit: The Annual Percentage Rate does not take into account your required deposit, if any. Demand: □ This obligation has a demand feature. □ All disclosures are based on an assumed maturity of one year. Filing Fees Non-Filing Insurance $ 10.00 $ 0.00 Property Insurance: You may obtain property insurance from anyone who want that is acceptable to the Credit Union. If you do not insurance from us you will pay $ _______ Late Charge: You will be charged a late fee of $20.00 if your payment is not received within 10 days of the scheduled due date. Security: Collateral securing other loans with the Credit Union may also secure this loan. You are giving a security interest in your shares and dividends and, if any, your duriety and interest in the Credit Union; and the property described below: <table> <tr> <th>Collateral</th> <th>Property/Model/Make</th> <th>Year, Lot. Number</th> <th>Type</th> <th>Value</th> <th>Key Number</th> </tr> <tr> <td>DUCATI</td> <td>PANIGALE</td> <td>2013 0144510161690000</td> <td>VEH</td> <td>$ 15,395.00</td> <td>$</td> <td>$</td> </tr> </table> Other (Describe) Pledge of Shares $ in Account No. $ See your contract documents for any additional information about repossession, default, and any required repayment in full before the scheduled date. SIGNATURES By signing, or otherwise authenticating, as Borrower, you agree to the terms of the Loan Agreement. If property is described in the "Security" section in the Truth in Lending Disclosure, you also agree to the terms of the Security Agreement. If you sign, or otherwise authenticate, as "Owner of Property" you agree only to the terms of the Security Agreement. CAUTION: IT IS IMPORTANT THAT YOU THOROUGHLY READ THE AGREEMENT BEFORE YOU SIGN IT. Borrower 1 Signature X ____________________________ FREDRICK C SNIDER Signature X ____________________________ Other Borrower [ ] Owner of Property [x] Witness Borrower 2 Signature Date (Seal) Date (Seal) LIEN HOLDERS RELEASE FORMS VIN: ZDM14B1W6JB006371 AGNT #: M1431 LIEN DEBTOR: FREDRICK C SNIDER FREDRICK C SNIDER OKLAHOMA CITY OK 73126-7018 MODEL: SUPERBIKE BODY: MTGY I.2146855904 LIEN HOLDER: OKLAHOMA FEDERAL CREDIT UNION OKLAHOMA FEDERAL CREDIT UNION 517 NE 36TH ST OKLAHOMA CITY OK 73105-1111 REF#: I.2146855904 TO: OKLAHOMA TAX COMMISSION MOTOR VEHICLE DIVISION P.O. BOX 269061 OKLAHOMA CITY OK 73126 TO WHOM IT MAY CONCERN: WE HEREBY RELEASE OUR SECURE INTEREST IN THE MOTOR VEHICLE DESCRIBED ABOVE, EFFECTIVE ON THE DATE AND TIME APPEARING ON MY SIGNATURE. PLEASE REVISE YOUR RECORDS TO REFLECT THIS RELEASE. SIGNATURE OF REPRESENTATIVE OR FOR RECORDS X ____________________________ DATE ________________ LENDER: TO ENSURE PROPER PROCESSING OF YOUR COMPLETED LIEN RELEASE, PLEASE FOLLOW THE FOLLOWING: DO NOT USE THIS DOCUMENT NOTE: IF THERE ARE REQUEST FOR ATTACHMENTS DO NOT USE THIS DOCUMENT DO NOT USE THIS DOCUMENT IN THE DISTRICT COURT OF OKLAHOMA COUNTY STATE OF OKLAHOMA OKLAHOMA FEDERAL CREDIT UNION Plaintiff, vs. * FREDRICK C. SNIDER, Defendant. Case No. AFFIDAVIT AS TO MILITARY SERVICE In compliance with the Servicemembers Civil Relief Act, 50 App. U.S.C. § 521 ct seq., I, the undersigned Plaintiff, state that the following facts are true: ☐ Defendant, ____________________________, is in military service. I have attached all relevant documentation and information to support this declaration. ☑ Defendant, Fredrick C. Snider, is not in military service. I have attached all relevant documentation and information to support this declaration. ☐ I am unable to determine whether or not the defendant, ______________________________ is in military service. I state under penalty of perjury under the laws of Oklahoma that the foregoing is true and correct. Dated this __________ day of February, 2020. Tim Delise, CEO Plaintiff Department of Defense Manpower Data Center Status Report Pursuant to Servicemembers Civil Relief Act SSN: XXX-XX-6969 Birth Date: Mar-XX-1964 Last Name: SNIDER First Name: FREDRICK Middle Name: C Status As Of: <table> <tr> <th colspan="3">Civil Active Duty On Active Duty Status Date</th> <th>Service Component</th> </tr> <tr> <th>Active Duty Start Date</th> <th>Active Duty End Date</th> <th>Status</th> <th></th> </tr> </table> *BASED ON THE PERSONAL INFORMATION YOU PROVIDED, THERE ARE MULTIPLE RECORDS; ACCORDINGLY, DMDC CANNOT DEFINITIVELY IDENTIFY THE INDIVIDUAL AND IS UNABLE TO RELEASE ANY INFORMATION. WE STRONGLY RECOMMEND IN THIS CASE THAT YOU CALL THE SERVICE SCRA FOR ADDITIONAL VERIFICATION. A URL FOR THE SERVICE SCRA POINTS-OF-CONTACT IS PROVIDED BELOW.* HOWEVER, WITHOUT A SOCIAL SECURITY NUMBER, THE DEPARTMENT OF DEFENSE MANPOWER DATA CENTER CANNOT AUTHORTATIVELY ASSERT THAT THIS IS THE SAME INDIVIDUAL THAT YOUR QUERY REFERS TO. NAME AND DATE OF BIRTH ALONE DO NOT UNIQUELY IDENTIFY AN INDIVIDUAL. Michael V. Sorrento Michael V. Sorrento, Director Department of Defense - Manpower Data Center 400 Gigling Rd. Seaside, CA 93955 The Defense Manpower Data Center (DMDC) is an organization of the Department of Defense (DoD) that maintains the Defense Enrollment and Eligibility Reporting System (DEERS) database which is the official source of data on eligibility for military medical care and other eligibility systems. The DoD strongly supports the enforcement of the Servicemembers Civil Relief Act (50 USC App. ? 501 et seq. as amended) (SCRA) (formerly known as the Soldiers’ and Sailors’ Civil Relief Act of 1940). DMDC has issued hundreds of thousands of “does not possess any information indicating that the individual is currently on active duty” responses, and has experienced only a small error rate. In the event the individual referenced above, or any family member, friend, or representative asserts in any manner that the individual was on active duty for the active duty status date, or is otherwise entitled to the protections of the SCRA, you are strongly encouraged to obtain further verification of the person’s status by contacting that person’s Service. Service contact information can be found on the SCRA website’s FAQ page (Q33) via this URL: https://scra.dmdc.osd.mil/faq.xhtml#Q33. If you have evidence the person was on active duty for the active duty status date and you fail to obtain this additional Service verification, punitive provisions of the SCRA may be invoked against you. See 50 USC App. ? 521(c). This response reflects the following information: (1) The individual’s Active Duty status on the Active Duty Status Date (2) Whether the individual left Active Duty status within 367 days preceding the Active Duty Status Date (3) Whether the individual or his/her unit received early notification to report for active duty on the Active Duty Status Date. More information on "Active Duty Status" Active duty status as reported in this certificate is defined in accordance with 10 USC ? 101(d)(1). Prior to 2010 only some of the active duty periods less than 30 consecutive days in length were available. In the case of a member of the National Guard, this includes service under a call to active service authorized by the President or the Secretary of Defense under 32 USC ? 502(f) for purposes of responding to a national emergency declared by the President and supported by Federal funds. All Active Guard Reserve (AGR) members must be assigned against an authorized mobilization position in the unit they support. This includes Navy Training and Administration of the Reserves (TARs), Marine Corps Active Reserve (ARs) and Coast Guard Reserve Program Administrator (RPAs). Active Duty status also applies to a Uniformed Service member who is an active duty commissioned officer of the U.S. Public Health Service or the National Oceanic and Atmospheric Administration (NOAA Commissioned Corps). Coverage Under the SCRA is Broader in Some Cases Coverage under the SCRA is broader in some cases and includes some categories of persons on active duty for purposes of the SCRA who would not be reported as on Active Duty under this certificate. SCRA protections are for Title 10 and Title 14 active duty records for all the Uniformed Services periods. Title 32 periods of Active Duty are not covered by SCRA, as defined in accordance with 10 USC ? 101(d)(1). Many times orders are amended to extend the period of active duty, which would extend SCRA protections. Persons seeking to rely on this website certification should check to make sure the orders on which SCRA protections are based have not been amended to extend the inclusive dates of service. Furthermore, some protections of the SCRA may extend to persons who have received orders to report for active duty or to be inducted, but who have not actually begun active duty or actually reported for induction. The Last Date on Active Duty entry is important because a number of protections of the SCRA extend beyond the last dates of active duty. Those who could rely on this certificate are urged to seek qualified legal counsel to ensure that all rights guaranteed to Service members under the SCRA are protected WARNING. This certificate was provided based on a last name, SSN/date of birth, and active duty status date provided by the requester. Providing erroneous information will cause an erroneous certificate to be provided.