Credit Basics
What Is a Bankruptcy Proof of Claim?
A bankruptcy proof of claim is a formal document that allows a creditor to assert a right to payment in a bankruptcy case. It identifies how much is...
Understanding UCC Filings: Top Questions Answered
When it comes to protecting your company’s receivables, UCC filings are one of the most effective tools available. Whether you’re supplying...
Chapter 7 vs Chapter 11 Bankruptcy
The primary difference between Chapter 7 vs Chapter 11 is whether the bankrupt entity intends to continue operating after it exits bankruptcy. An...
Preliminary Notices: What Are They?
Preliminary Notice Basics A preliminary notice is often the first step in preserving your right to secure payment through a mechanic’s lien (for...
Commercial Collections: What They Are & How They Work
Commercial debt recovery, also called commercial collections or B2B collections, is the process of recovering unpaid invoices or debts owed by other...
Lien Waivers: What They Are Used for & How
What Is a Lien Waiver A lien waiver is a legal document signed by a contractor, subcontractor, supplier, or other party on a construction project to...
What Is a Bond Claim?
Bond Claim Basics A bond claim is a written notice to the surety that the claimant (such as a subcontractor or material supplier) is looking to them...
What Is a UCC Filing?
What Is Article 9 of the Uniform Commercial Code (UCC)? The Uniform Commercial Code is a set of standardized laws that govern commercial transactions...
Mechanic's Lien: What, How, and Why?
What Is a Mechanic’s Lien? A mechanic’s lien (aka construction lien) is a lien against real property. A mechanic’s lien is often filed by a general...