Civil Judgments vs. Judgment Liens: What’s the Difference?
June 25, 2009
UCC, Litigation Research
If you’re like me when I was first introduced to this industry, you might be a little confused about the difference between judgments and judgment liens. They are two separate animals, and it’s important to know the difference if you’re trying to determine which to search for when doing your due diligence.
The easy definition is that a judgment is an official decision rendered by the court with regard to a civil matter. A judgment…READ MORE
When to file UCC3 Continuation Statements
June 12, 2009
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
June 05, 2009
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:
There are only a few instances where a debtor-authorized termination is effective…READ MORE