Secure Your Interests with UCC Filings

NCS has been a true partner to us. They truly understand our business and work closely with us on the intricacies of UCC law and how it applies to our unique situations. They are never too busy to answer our questions and their input is knowledgeable and insightful. They have helped us grow our business while properly managing our risk portfolio through their best-in-class portal and reporting tools. Highly recommend them.

We had a situation with a large volume customer with no personal guaranty who closed their doors unexpectedly…leaving us with a past due balance of $189,000…Without us being a secured creditor with a UCC filing in place, I truly believe that we would have only received cents on the dollar under the unsecured general creditors. Sysco Boston has been paid due to the utilization of the UCC and the services of NCS. NCS makes this process easy.

NCS has been outstanding with the entire process of transitioning our UCC records into their system for the filling, monitoring, and maintenance of our UCC records. Our records go back several decades; therefore, the transition has to be with a company that would help us every step of the way. NCS has exceeded all my expectations and has made our transition seamless.

NCS services have been invaluable to Kichler Lighting for many years. Since I attended an NCS seminar a number of years ago, we have done hundreds of filings and they have helped us save thousands of dollars. A number of our filings have allowed us to recover products and recoup funds that we would not have otherwise.

Using the Corporate Monitoring service NCS has been providing, our company has already identified two accounts with open credit limits which could have resulted in material losses: First, a $100,000 open credit limit and open accounts receivable. NCS identified the account as inactive with the State. Subsequent conference calls with the CFO of our customer found that the customer was “very close to running out of cash and it is unlikely to be funded further by outside investors.”

Given such dire status provided verbally as well as the State standing, we reduced the limit to $0. Second, a $250,000 open credit limit. NCS identified the account as inactive with the State. HTA had no open exposure and decided to reduce the limit to $0 until the business returns to active status or until a sufficient explanation can be provided. As a general rule, HTA does not do business with companies that are inactive with the State without sufficient explanation and understanding.