articles lien 
Accounting Tools
APRIL 30, 2024
The terms of this covenant typically state that, if the debtor does grant a security interest in its assets, that the first creditor will be designated as a co-holder of the lien. This approach ensures that the creditor will not be left out of the race to secure the debtor’s assets in the event of the debtor's bankruptcy.
Accounting Tools
OCTOBER 13, 2023
A secured creditor is a lender that has placed a lien on certain assets of a borrower. A lien allows the creditor to seize those assets designated as being the collateral of the borrower. When a lien has been recorded against an asset, the creditor can move quickly to acquire the asset in the event of a payment default by the borrower.
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Accounting Tools
MARCH 29, 2024
The company is also required under state lien laws to post signs around the secured area, stating that a lien is in place on its contents. If the level of inventory drops below the amount of the loan, the borrower must pay back the finance company the difference between the outstanding loan amount and the total inventory valuation.
Nolan Accounting Center
SEPTEMBER 15, 2023
In this article, we’ll explain what you should avoid if your business is audited and the steps you can take to ensure it goes smoothly. If you don’t pay, you only make the situation worse, and the IRS may put a lien on your home or property. Nolan Accounting Center can help your Southeast Wisconsin business with your financials.
Accounting Tools
OCTOBER 15, 2023
Another option is to require personal repayment guarantees by the owners of the business, while a third option is to take a security interest in the company's assets and perfect the lien. The lien attaches to the assets even if they are sold to a third party, so the assets can still be seized even after a sham sale.
Accounting Tools
MARCH 22, 2024
A deficiency claim is that portion of a claim secured by a lien on property that exceeds the value of the property. Related AccountingTools Courses Bankruptcy Tax Guide Essentials of Corporate Bankruptcy Essentials of Collection Law Related Articles Priority Claim Unsecured Claim Voidable Preference What is a Deficiency Claim?
Accounting Tools
MARCH 22, 2024
When the court orders that cash collateral can be used, creditors are typically protected with new liens on other debtor assets, to the extent that the debtor’s use of the cash collateral will otherwise decrease the value of the collateral held by creditors.
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