Business owners dealing with merchant cash advance disputes may find UCC financing statements filed against business assets. A UCC-1 filing gives public notice of a claimed security interest, but it does not by itself prove that the creditor has a valid, perfected and...
Merchant cash advance companies may file UCC financing statements to give notice of a claim against your business's assets. If the filing has errors, you may have grounds to challenge it. But a filing mistake does not automatically erase the debt or security interest....
If you took out a merchant cash advance, you probably signed a UCC-1 filing along with it. That filing gives the lender a claim on your business assets until you pay off the debt. But what if you need that lien lifted before you finish paying? It happens more often...
You paid off your merchant cash advance. You expect the lien to disappear right away. Instead, weeks pass and the UCC filing still shows up when vendors or lenders run credit checks. The full process – from payoff to cleared public records – can take anywhere from a...
Taking out a merchant cash advance often requires securing the funds with a legal safety net. Lenders protect their position by filing a public document called a Uniform Commercial Code financing statement. This filing creates a public claim on your company...
Running a business is hard when daily withdrawals drain your bank account. You may feel trapped by payments that do not reflect your current sales or revenue. Many owners do not realize their merchant cash advance (MCA) contracts contain a safety valve known as the...
Settling a merchant cash advance (MCA) can bring major relief, but the final payment should not be your only concern. If the funder recorded a UCC financing statement, that public record may still create problems after you resolve the MCA debt. UCC stands for Uniform...
When a lender repossesses collateral or sells it after a default, the Uniform Commercial Code sets the rules they must follow. Many creditors skip steps or rush the process. Here's how you can check their work. Start with the default notice Unless specifically...
An unauthorized UCC lien on your business is a public claim against your assets. Filed without a valid security agreement, it directly threatens your company's financial health. You have rights and can take action to address an improper lien. What an unauthorized lien...
Business owners might feel like celebrating the moment they wire their final payment to a Merchant Cash Advance (MCA) provider. Still, making the final payment does not automatically clear a Uniform Commercial Code-1 (UCC-1) lien in New York from the public record....