Working with a collection lawyer in New Jersey is a good way to increase your success in obtaining a collections judgment in your favor. Collections lawyers with years of experience understand the ins and outs of New Jersey state law and can help you navigate the collections process in a smooth manner. The New Jersey Uniform Commercial Code was amended significantly on May 11, 2015, resulting in new requirements for filing a financial statement to perfect a security interest related to collateral. This amendment requires that a financial statement must include the listed collateral as it applies to Article 9 of the UCC. Collections lawyers may be able to help you understand these changes.
The purpose of the UCC amendment is to prevent people from filing fraudulent claims, failing to comply and filing ineffectively. The amendment also addresses the restraint of collection enforcement, alternative disposition of collateral and statutory damages, in some cases. Other sections address attorneys’ fees and the injunction from filing future liens, and encumbrances against the debtor or any other person without court approval. In some cases, the amendment means that the filing office can refuse to file a financing statement that does not comply with the new UCC code. The new amendment applies to all filings from May 11, 2015 on. If you have filed a financing statement since May 11, or you intend to file a statement soon, you should consult your collections lawyers for guidance first. This ensures that your filing complies with the UCC’s much stricter requirements. If your financing statements filed after May 11 turn out to be in non-compliance, this is a matter that should be addressed through amendments as quickly as possible.
Contact a Collection Lawyer
Call Snellings Law LLC at (973) 265-6100 to reach a collection lawyer who can help you receive the funds you are owed.