Free eBook: Lien-Related Post Filing Due Diligence
April 05, 2019
UCC, Due Diligence, Lien Monitoring Something
As a secured party, you need to know immediately if your debtor is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE eBook, we focus on lien-related post filing due diligence and what you can do as a secured party to maintain your perfected security interest. In it, you will find post filing due diligence insights regarding the below topics.
Top 5 mistakes to avoid on UCC Financing Statements
…READ MORE
*Disclaimer
International Factoring Association Conference Recap 2018
May 10, 2018
Lien Monitoring, Events & Tradeshows Something
The International Factoring Association held its annual conference last week at The Fontainebleau Hotel in Miami, and First Corporate Solutions was proud to attend once again with friends, partners, familiar faces and new acquaintances.
The International Factoring Association conference continues to be the leader in providing educational and networking opportunities to the factoring community and this year’s event delivered again. Factors…READ MORE
*Disclaimer
Lien Monitoring Only at the State? It’s Risky
April 19, 2018
UCC, Due Diligence, Reduce Financial Risk, Lien Monitoring Something
When evaluating lien monitoring programs, programs that are designed to monitor your Financing Statements for lien filings that can prime your perfected security interest, it is important to recognize that many states do not maintain records of Federal Tax Liens or Judgment Liens Attached to Real Property at the state-level filing office. Nevertheless, these liens have the potential to prime a perfected security interest.
That’s why,…READ MORE
*Disclaimer
State-Level Only Lien Monitoring Programs Only Tell Part of the Story
July 13, 2017
UCC, Due Diligence, Reduce Financial Risk, Lien Monitoring Something
Once a creditor has filed a UCC Financing Statement and perfected their security interest, maintaining that priority position throughout the life of the loan becomes paramount. Many choose to employ lien monitoring programs which run interval searches on debtor names to check for any new filing activity, and then provide timely updates that alert creditors to potential threats that may jeopardize their ability to collect.
Monitoring provides…READ MORE
*Disclaimer
Judgment Lien Attached To Personal Property Can Prime A Perfected Security Interest
June 22, 2017
UCC, Due Diligence, Lien Monitoring Something
Of course you’re aware that a federal tax lien can prime your perfected security interest 45 days after filing, knocking your UCC from first priority position if you do not act to protect your perfected position. It’s Factoring/ABL 101.
But what about a judgment lien attached to personal property? What impact can it have on your perfected security interest?
Turns out it can prime your first position UCC just like a federal tax…READ MORE
*Disclaimer
International Factoring Association Conference Recap 2017
April 13, 2017
Lien Monitoring, Events & Tradeshows Something
The International Factoring Association’s annual conference was held last week at The Omni Hotel in Ft. Worth, Texas, and First Corporate Solutions was proud to attend once again with friends, partners, familiar faces and new acquaintances.
The IFA conference continues to be a leader in providing educational and networking opportunities to the factoring community and this year’s event delivered again. Although the weather…READ MORE
*Disclaimer
Tips To Maintain Your Perfected Security Interest
February 24, 2017
Reduce Financial Risk, Tips, Lien Monitoring Something
Considering all the effort and resources you put into qualifying your debtors and perfecting your security interests, it's good to know there are some excellent tools you can utilize to help maintain that priority and make your efforts pay off.
Why go to all the trouble to investigate a potential new debtor’s credit worthiness, and decide to perfect your security interest by filing a Financing Statement in the correct jurisdiction, if…READ MORE
*Disclaimer
IRS Disables Online ‘Get Transcript’ Capability Due to Data Breach
June 04, 2015
Lien Monitoring Something
In an IRS statement last updated May 27, 2015, the IRS revealed “that criminals used taxpayer-specific data acquired from non-IRS sources to gain unauthorized access to information on approximately 100,000 tax accounts through IRS’ “Get Transcript” application. This data included Social Security information, date of birth and street address.” You can read the IRS’s full statement here.
In response to this incident, the IRS…READ MORE
*Disclaimer
Three Top Reasons Why Public Records Research is Essential for an Asset-Based Lender’s Due Diligence Process
May 14, 2015
Due Diligence, Lien Monitoring Something
In our continued focus on the importance of public records research to a secured party’s security interest perfection process, today we list three of the main reasons. So why is public records research essential to an Asset-based lender’s due diligence processes?
1. To determine priority before filing
A public records search uncovers pre-existing liens (like Federal and State tax liens, Judgment liens and UCCs) which can prevent…READ MORE
*Disclaimer
Choosing a Monitoring Solution that is Right for Factors & Asset-Based Lenders
January 22, 2015
Due Diligence, Lien Monitoring Something
As asset-based lenders and factors, you are aware that different loan types provide different risks and rewards, and as lenders and risk takers you look to capitalize on this fact. Because of the nature of your lending practices, there are specific solutions that have been designed to monitor a perfected security interest and assist secured parties in maintaining their perfected security interest once a UCC financing statement has been filed.
Many…READ MORE
*Disclaimer
