Credit Tips Blog: Discover the Latest Industry Insights

An example of how one contractor lost its mechanic's lien rights because its preliminary notice failed to meet the requirements outlined by statute.

Hiring an attorney, a new vendor, should be very similar to the way you hire employees and qualify customers for credit.

The mechanic’s lien law in North Carolina experienced a rather large change in April 2013: the introduction of the Lien Agent.

If you allow customers to hold goods under a consignment agreement prior to the sale, you are at risk of losing your rights in the goods.

In a perfect world a mechanic’s lien and/or judgment lien filing will get you paid, but the reality is that recovering monies secured by any instrument can take time.

Preliminary notice deadlines vary by state. Did you know some states require the preliminary notice to be served after you begin furnishing?

Obtaining a reflective search is the best practice to make sure the UCC Financing Statement has been indexed accurately.

Although there are no guarantees, time and time again we see secured creditors receiving more funds than unsecured creditors.

Subordination is “the process by which a creditor holding a priority debt agrees to accept a lower priority for the collection of its debt in a deference to a new debt.”

A New York court issued a decision which highlights the high costs of seemingly minor technical mishaps in the filing of a mechanic’s lien.

A Joint Check Agreement is an agreement between parties, allowing one party to make payment through a check issued to two or more payees.

When preparing a UCC filing, minor deviations in the name of the debtor can prevent a security interest from being perfected.