What are UCC-1 Lien Notice Filings and What Do You Do if Your MCA Lender Files One Against You?
Did you just receive a call from one of your vendors telling you that they received a UCC lien from your merchant cash advance lender? Is the lender demanding that your vendor pay them directly instead of paying you? Hopefully we can explain here what is going on and advise you as to what your options are. When you received your merchant cash advance, your lender prepared and recorded what is referred to as a UCC-1 filing. What is a UCC Filing? A UCC filing, also known as a UCC lien or a UCC-1, is a financing statement which lenders can file against...Continue reading