Collectability of an Unsecured Collection
Have you ever wondered “Is my unsecured collection collectable?” “Is this past due, unsecured account even collectable?” It’s a common question in...
Bankruptcy (7)
If or When, Contingent Payment Clauses
Payment Clauses: Pay-IF-Paid or Pay-WHEN-Paid It’s hard to believe that two small words, with seemingly “useless, yet endless” functionality, can...
Protect Your Consignment Sales
Protect Your Consignment Sales with UCC Filings If you allow customers to have possession of goods under a “consignment” agreement prior to the...
Bankruptcy Payout Priority – Secured Creditors Make Bank
Bankruptcy Payout Priority – Secured Creditors Make Bank As a credit professional, you’ve likely heard this once or twice: “It’s better to be a...
Debtor Name Errors in UCC Filings
The Impact of Debtor Name Errors in UCC Financing Statements Perfection of a security interest involves drafting and executing a sound security...
Customer Defaults? Your UCC Filing Can Help You Recover
How Do I Recover? Congratulations, you filed a UCC to position yourself as a secured creditor! Unfortunately, your customer has defaulted on...
Impact of Accurate Debtor Names on UCC Security
Omission of “Inc.” Left Security Interest Unperfected The proper spelling of a debtor’s name on UCC Financing Statement is currently one of the most...
Collateral Description in UCC Filings: a Case from Tennessee
Collateral Description in UCC Filings: a Case from Tennessee A recent case decided by the Sixth Circuit Court of Appeals, 1st Source Bank v. Wilson...
Importance of Monitoring Debtor Name Changes on UCC Filings
How Can Creditors Protect UCC Filings from Name Changes? If a name change by a debtor makes a filed financial statement “seriously misleading,” UCC...
The Importance of Filing a UCC with Secured Possessions
File a UCC, Even if It is Temporarily Secured by Possession You Schwinn Some, You Lose Some!