Bi-Directional Quick Change Tool-Less Lever and Wedge Actuated Collet Chuck, System and/or Method for Using the Same

A system for tightening a tool bit shank holding pressure, the system comprising:

• a rotary-style power tool having a drive shaft wherein the rotary-style power tool rotates the drive shaft;
• a chuck having a collet wherein the chuck is connected to the drive shaft wherein the chuck rotates in conjunction with a rotation of the drive shaft;
• a plurality of levers connected to the chuck wherein the levers are axially positioned with respect to the collet wherein the levers articulate onto the collet to place a pressure on the collet wherein the rotation of the chuck articulates the levers onto the collet;
• a moveable wedge housed within the chuck wherein driving the wedge into a plurality of positions abutting the levers articulates the levers onto the collet;
• and
• a spring housed within the chuck wherein the spring actuates the wedge into the plurality of positions abutting the levers during the rotation of the chuck wherein the spring maintains the plurality of positions of the wedge after the rotation of the chuck ceases.

A method for installing a first accessory into a rotary-style power tool, the method comprising the steps of:

• providing a chuck having a collet for receiving the first accessory wherein the chuck has a manually operated release sleeve that moves a wedge into a plurality of positions with respect to a plurality of levers that are axially placed within the chuck wherein articulation of the levers changes a holding pressure on the collet and further wherein the chuck has a spring that actuates the wedge and the release sleeve in a direction towards the collet;
• sliding the release sleeve in a direction opposite of the collet to eliminate the holding pressure;
• inserting the first accessory into the collet;
• and
• releasing the release sleeve wherein the spring forces the release sleeve and the wedge towards the collet to articulate the levers onto the collet to increase the holding pressure.