Don't know what you mean by an execution. A UCC filing simply posts notice of a debt and may secure the debtor's assets against the debt. As far as I know, a UCC filing is not enforceable like a judgment may be.
A UCC filing can have an effect on the credit worthiness of the debtor. Every time the debtor tries to get a loan or sell any assets from his business, the debtor may have trouble because of the UCC filing, which may attach some of the debtor's assets and affect the debtor's collateral potential. If the debtor goes bankrupt, then a UCC filing may assist you in recovery down the road.
A debtor can be an individual or corporation.
Frank Anderson
Innovative Marketing Systems
Re: Getting paid
Member #: 22668
Registered: 3/29/2003
Posted:
107
Name:
Frank Anderson
Name:
Frank Anderson
Company:
Innovative Marketing Systems
Occupation:
CFO
Location:
Dallas, TX
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