[skideeppow]

I have a merchant who does not want a ucc 1 filed against him because he has a loc with his bank and does not want them to see the additional ucc.

I know it is probably against the banks paper to get additional funding.

Anyway, thank for the info.

[Zach]

Quarterspot, national funding

[Chambo]

Merchant can't demand an A or B paper offer then....takes what he or she gets

[bdshaw]

I would not worry about thw bank's paper. I would be concerned with aiding the client defraud the bank.
Knowing a material matter has not been disclosrd to a bank is a criminal offense.
Watch it.

[skideeppow]

^^ Yes i know. That is an issue

[FUNd]

I have a merchant who does not want a ucc 1 filed against him because he has a loc with his bank and does not want them to see the additional ucc.

I know it is probably against the banks paper to get additional funding.

Anyway, thank for the info.

If the bank finds out, they will put the client in default and call his existing LOC due and payable in full. If the client doesn't have the funds to cover it, I can guarantee the bank has a blanket lien on all of the equipment, receivables, and real estate that belong to the company. A pissed off bank will enforce the lien and what you have done is destroyed someones business and put people out of work to make a few dollars.

Maybe just find a better deal, or actually ask the bank to subordinate.

[ADiamond]

Tell him not to use the biz acct associated with the bank he has the loc at either otherwise avoiding the ucc filing will be pointless.

[CreditGuy]

Tell him not to use the biz acct associated with the bank he has the loc at either otherwise avoiding the ucc filing will be pointless.

Yes. Become an active accomplice in bank fraud. Moron.

[Chambo]

yet I am the crazy one when I say regulation and weeding out is a good thing?

[Sean Cash]

Tell him not to use the biz acct associated with the bank he has the loc at either otherwise avoiding the ucc filing will be pointless.

Anthony, you tend to give really bad advice.

[skideeppow]

Going the subordination route. If he does not want to do that, i am out. Thanks for the input.