When to file UCC3 Continuation Statements
UCC, Tips
For a Secured Party, filing timely continuations for existing UCC1 Financing Statements is a critical step in maintaining a priority position to collect on debts. A UCC1 Financing Statement is effective for a period of five years. If not continued before its lapse date, a Financing Statement will cease to be effective, thereby allowing subsequent filers to secure a priority position. Figuring out when to file a Continuation can be confusing,…READ MORE
Tips for Tackling Fraudulently Filed Termination Statements
UCC, Tips, Lien Monitoring
So, you just discovered that your UCC Financing Statement has been fraudulently terminated by the debtor. You are likely wondering what comes next. Is there anything you can do to reassert your priority position and minimize your risk? Don’t panic, there are several ways you can address the situation. Here are a few options you may want to explore:
Do nothing
There are only a few instances where a debtor-authorized termination is…READ MORE