Risk Management Blog

Do you have questions about how your perfected security interest will be affected by a federal tax lien? Are you at risk to losing priority in regard to after-acquired collateral in the event a federal tax lien is filed against your debtor? Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., gets asked questions like this all the time, and has taken the time to write some answers regarding federal tax liens. You… >> READ MORE

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

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

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

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

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

Having a rapid turn-around time for your pre-funding lien searches is important. Borrowers are looking for quick funding solutions and slow turn-around time for lien searches can extend your funding cycle, frustrating prospective clients and tarnishing your reputation in the industry. Earlier this month, First Corporate Solutions began a four-part blog series devoted to providing our readers with tips for improving the turn-around time for… >> READ MORE

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

First Corporate Solutions is launching a 3-part blog series on tax lien searching! This week’s post discusses why you should be searching for tax liens. Here is a schedule for upcoming topics on tax lien searching: Friday 10/22: Ordering a Tax Lien Search Tips on how to order your tax lien search to achieve the best results. Friday 10/29: Reviewing Tax Lien Search Results Expert advice on how to review and interpret your… >> 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