Risk Management Blog

Last week, we wrapped up our discussion on state direct database searches with an overview of some drawbacks associated with using the UCC search feature on a state’s website. Now we are ready to enter the final stretch of the Evaluating State UCC Search Options blog series by turning our attention to proprietary databases. Herein, we will look at the benefits of using a proprietary database to perform state UCC searches. What is a… >> READ MORE

On the surface, a state direct database search appears to solve several of the key problems associated with a certified search. A certified search is expensive while a state direct database is offered at low to no cost on a state’s website. Whereas turn-around can be slow for a certified listing, a state direct database search offers immediate results. A certified search uses exact name search logic, but a state direct search engine may… >> READ MORE

This week, we continue our series on evaluating state UCC search options. Please refer to our previous blog posts for a discussion of the benefits and drawbacks of a certified UCC search. Now, we turn our attention to the benefits of a state direct database search. What is a State Direct Database Search? We are using the term “state direct database search” to describe a UCC search that is generated using an online search feature… >> READ MORE

In this, our final installment of the Tax Lien Searching blog series, we offer up some tips for making sense of your tax lien search results. What follows is a brief discussion of three important considerations when reviewing tax lien search results. Lien Amount Tax liens are filed for a specific dollar amount, representing the past-due tax balance and any interest or penalty charges assessed at the time of the lien’s preparation.… >> READ MORE

Welcome back for the second installment of our blog series on evaluating state UCC search options! Last week we defined a certified search and talked a bit about the benefits of state-certified UCC searches. This week, we’ll touch on the drawbacks of a certified search. Locating Tax Liens The first potential problem with a certified UCC search relates to locating tax liens. Many state filing offices administer tax lien records… >> READ MORE

Deciding what data sources to trust is the first step in securing high-quality dependable search results. Over the next several weeks, we will be looking at the various search options that are available for state level UCC searches and discussing the benefits and drawbacks of each. The goal is that for our readers to gain a good understanding of their options and be able determine with confidence what source(s) best satisfy their… >> READ MORE

There is a variety of options available for the web-savvy individual to perform their own UCC searches. Many state and county filing offices now provide a searchable index at low to no cost on their websites and private service companies purchase lien data in bulk to create and maintain their own online search systems. So, why would anyone hire a professional to search for UCCs these days? Herein, we offer three good reasons to hire a service… >> READ MORE

Learning the ins and outs of lien searching can be daunting. It seems like there is so much to know! Beginning-level searchers often ask First Corporate Solutions for advice on how to conduct better searches. Here are three quick tips to help you gain confidence and hone your skills. 1. Maximize Results to Minimize Risk A good strategy for lien searching is to maximize your results in order to minimize your risk. This means, cast a wide… >> READ MORE

Last week’s blog post offers some practical ideas of ways secured parties can reduce their UCC filing costs. Continuing the conversation on ways to make cuts from due diligence spending without increasing risk, this week we will answer question, “How can I reduce my costs for lien searching?” Self-search Much of the price associated with lien searching is the cost of labor. Working with an offline service provider can inflate due… >> READ MORE

In order to perfect their security interest, secured parties should file  their financing statements swiftly, on the correct debtor names and in the appropriate filing office. A diligent secured party’s efforts, however, do not end once the filing office acknowledges acceptance of their financing statement. Experienced filers know that at that point they need to initiate a post filing verification search, more commonly known as a “search… >> READ MORE