Credit Tips Blog: Discover the Latest Industry Insights

Leveraging a UCC filing in the collection process is significantly more effective than attempting to collect without any leverage.

Supply houses often overlook a powerful tool when trying to get paid. The UCC can be a faster and more effective collection tool.

Typically, the Notice of Commencement contains the vital information necessary for inclusion into the preliminary notice.

Mistakes happen – best efforts are made, and an appeals court recently decided best efforts were enough to recover through the lien process.

Even a small mistake in a preliminary notice can greatly hinder your chances of recovery. Make sure to include a proper estimate in your notice.

If you had 30 seconds to give a credit professional advice on reducing risk, what would you say? Secure your A/R with UCCs and Liens.

Collecting a past due receivable can be difficult, but if your collector has the necessary documentation, debt recovery becomes easier.

When a party fails to name the true owner in the notice of intent to file a lien, what happens to the validity of the mechanic’s lien?

Your UCC filing acts as a lien on the business, therefore, before title passes from one party to another, the lien should be acknowledged & either settled or renegotiated.

The Carmack Amendment was the adoption of uniform guidelines used to determine who is liable for goods that are damaged during transit.

The court was tasked with determining whether a supplier had to file multiple liens for materials provided to a mixed use, two phase project.

Mexico instituted amendments to their secured transaction law. These amendments better align Mexico’s secured transactions with UCC Article 9.