SellersFi put UCC lien and Sued me, Anyone experienced this before? Thanks in advance
SellersFi put UCC lien on my account. Also sued us in NY, Although we are in Texas. Anyone dealt with this issue before? Please help me what to do? I dramatically lost revenue.
SellersFi put UCC lien and Sued me, Anyone experienced this before? Thanks in advance
SellersFi put UCC lien on my account. Also sued us in NY, Although we are in Texas. Anyone dealt with this issue before? Please help me what to do? I dramatically lost revenue.
1 reply
Seller_4zBzdtgCyS9EI
What is a UCC Lien?
A UCC-1 financing statement, commonly known as a UCC lien, is a public notice filed by a lender to claim a security interest in a borrower's assets.
It essentially gives the lender priority over other creditors in the event of default.
While UCC liens are common in business financing, they are increasingly used in Merchant Cash Advance (MCA) lending.
(This simply gives them priority at pay dates to get their share and should not influence your sales)
