Josh 1 year ago
Hi, unfortunately I took at a few small business merchant advance loans and when the payments became more than we could do we had to file bankruptcy. Unfortunately our bankruptcy failed as well so now we are yet again left to deal with these creditors. My question revolves around one in particular. There was no ucc filing from this company at the time of the loan at all, they only filed the ucc almost 2 years after the fact that our bankruptcy was dissmisssed. My first question is 1 is this legal and 2 do you have any recommendations for attorneys who specialise in these situations to help resolve the debts?
Jeff WhiteModerator1 year ago
So sorry to hear about your unfortunate circumstances. We don’t currently recommend any attorneys directly but you should be able to find a few in your area by clicking around through Google. I’m curious to understand better what happened in your bankruptcy. If you filed a Chapter 7 then all of your debts prior to that point would be wiped away. Did you include this debt in your bankruptcy? Is this a personal liability (did you personally guarantee it)?
There’s nothing against the law that says a lender can’t file a UCC 2 years after you take out a loan, as long as you still owe them the money. If the debt was absolved in the bankruptcy then you need to get the UCC lien removed by telling them about the bankruptcy (you have a right to sue if they try to collect after they know about the debt being washed away). You can also swear an oath at the secretary of state that says you don’t owe what they claim you do. Before you do this, however, you need to make sure you in fact don’t owe them anything.
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