Will a lender’s notation of its lien on a certificate of title for a vehicle always perfect the lender’s security interest?
UCC, Reduce Financial Risk, Title Related Topics Something
We continue our guest blog series with commercial lending attorney Bennett Cohen of the law firm Cohen, Salk & Huvard, P.C. You may also want to check out his eBook: Important Revisions To Article 9′s Rules Regarding Individual Debtors.
Perfection in Titled Vehicles: Will a lender's notation of its lien on a certificate of title for a vehicle always perfect the lender's security interest?
Answer: No. The general rule is that… >> READ MORE
Is There Any Risk to a Lender Who Files Its UCC Statement After the Loan Closing?
UCC, Due Diligence, Reduce Financial Risk Something
Do you have UCC questions? Attorney Bennett Cohen of Illinois law firm Cohen, Salk & Huvard, P.C., has the answers. Check out his guest post below. You may also want to check out his free eBook on RA9 Revisions to Individual Debtor Names.
Timely UCC Filing: Is there any risk to a lender who files its UCC statement after the loan closing?
Answer: Yes, the obvious risk is that an intervening lien (e.g., another UCC filing or… >> READ MORE
How to Protect Your Client List From UCC Secured Party Searches
UCC, Services / System Update, Online UCC System, Revised Article 9, Reduce Financial Risk Something
UCC searching and filing service providers go to great lengths to keep their customers’ data secure. Technology and in-house procedures provide safeguards to keep your data protected from outside sources. Since service providers, along with state and county filing offices, are the gatekeepers of public records containing transactional information, this is good thing. The nature of the Uniform Commercial Code, however, exposes an important… >> READ MORE
Does the filing of a notice of federal tax lien against a borrower prime an existing lender’s prior perfected security interest in all of the borrower’s present and future assets?
UCC, Reduce Financial Risk Something
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 may… >> READ MORE
How California Unsecured Creditors Can Protect Themselves From Bad Debt Losses
Reduce Financial Risk, Tips Something
Many of our clients in California are unsecured creditors, which means they do not file a security interest (such as a UCC) to ensure they are paid for products or services rendered. They essentially ‘front’ their product and expect their invoices to be paid in a timely fashion. Whether they are a wholesale produce distributor, waste management company or an office supply wholesaler, we have seen them experience the same problem—when… >> READ MORE
Free eBook on Lien-Related Post Funding Due Diligence
Due Diligence, Reduce Financial Risk, Lien Monitoring Something
As a lender, you need to know immediately if your customer is experiencing financial distress that could result in bankruptcy or debtor default. In this FREE guide you will find:
Top 5 Mistakes to Avoid on UCC Financing Statements
What a Search to Reflect can do for you
When to File Continuation Statements
Lien Monitoring Programs
Importance of Monitoring to Reveal Name Variations
Download this free guide today!
>> READ MORE
Tips To Maintain Your Perfected Security Interest
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
Single Extra Space Creates Seriously Misleading UCC Debtor Naming Error
UCC, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk, Tips Something
A recent court ruling in Wisconsin once again has affirmed the supreme importance secured parties must place on their data entry procedures when naming debtors on financing statements to perfect their security interests.
A recap of the case can be found here. Once again, a typo in the debtor name created a UCC filing that was judged to be seriously misleading, and therefore left the secured party’s security interest with the debtor… >> READ MORE
Tips To Determine Which Party Names To Search When Lien Searching
UCC, Due Diligence, Reduce Financial Risk, Tips Something
Searching the correct party and correct legal name is imperative when coordinating due diligence search efforts. It is important to search all names under which liens could be filed.
This may seem simple and obvious, but keep in mind that liens, particularly involuntary liens like federal tax liens and judgment liens, could be filed under business names, individual names, aliases, nicknames, or even fictitious business names.
So,… >> READ MORE
Does a lender need to take possession of the original leases to perfect its security interest in the equipment leases?
UCC, Revised Article 9, Reduce Financial Risk Something
Do you have UCC questions about equipment leases? Are you at risk to losing priority to other creditors? 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. You may also want to check out his eBook on Purchase Money Security Interests (PMSI).
Pledges of Equipment Leases: Does a lender need to take possession of the… >> READ MORE
