Once repossess you can

 Strict foreclosure - keep the collateral, so long as debtor does not object (debtor consents if they do not object after they are sent notice) and any other creditor with a lien on the item does not object but if they do you have to sell it  Sell the collateral, lease collateral, license or otherwise dispose – can do in condition it is in or new condition – when you do foreclosure sale it discharges the security interest and all subordinate liens but senior liens will still be on property