Serving Jackson and Surrounding Communities for Over 100 Years

Michigan Secured Transactions

A secured transaction is one that involves the use of collateral to secure a debt. It requires careful consideration and adherence to the rules of the Uniform Commercial Code (UCC) regarding perfection and priority of security interests. A creditor who fails to properly perfect its security interest may find itself at the end of a long line of unsecured creditors if a debtor files for bankruptcy protection. An unperfected or under-perfected security interest is, in many cases, worth little more than no security interest at all.

In cases that involve consumer retail loans, the collateral given to secure a debtor's obligation may not be in the possession of the creditor. These types of cases require careful planning on behalf of the creditor in order to ensure that their security interest is properly perfected. Our Jackson area collections and creditors' rights attorneys work closely with our clients to ensure that their security interests are properly perfected; that their financing statements are filed timely; and that they comply with other UCC requirements that are necessary to protect their valuable collateral.

While we believe that our clients' interests are best protected by careful legal planning, businesses or financial institutions that engage in secured lending will inevitably experience some rate of default. In this event, our experienced attorneys also assist with lawful, efficient collections.

For more information or to set up an appointment to speak to one of our business or collections attorneys, please call Curtis, Curtis & Brelinski at (517) 787-9481, email info@curtiscurtislaw.com, or complete our online contact form. Based in Jackson, we serve clients throughout mid-Michigan.

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