The Corporation Service Company UCC is the bane of my existence. The only method I know of right now is having the merchant call Corporation Service Company directly, who will then contact the company who filed the UCC, and then hopefully they will contact the merchant.
Anybody have a better way to see who filed via CSC?
Request a bank statement from the merchant for the month that the UCC was filed and see who made a deposit.
I believe most funders place a UCC when the deal is having issues or goes into default, not so much when they fund the deal anymore. Placing a UCC when it funds was a 2012-2017 thing I feel like but then funders noticed the brokers hit up the UCC list and then try to stack the merchant. Filing a UCC back in the day was an easy target since you know the merchant received funding already. Another reason everyone moved to CSC since it's vague, prior, everyone had their own UCC tag name so you knew who funded it and could target certain funders like On Deck or Credibily as an example.Quote:
Originally Posted by GRP Funding
That's always #1 first thing we do, but sometimes there's nothing there and then raises suspicions about other hidden accounts.Quote:
Originally Posted by GRP Funding
I beleive you can request it from CSC.
CSC then reaches out to whoever filed asking if they want their Name given up, and if then CSC doesnt get a response in 48 hours (i think) then they release it to you....
In my experience usually they dont get a response and you end up with the info.
Or you can add 1 and 1 together and get the bank statements from when the UCC was filed.