You will need a commercial transactions attorney in Utah. U.C.C filing need to be perfect to become a priorty over other debts in bankruptcy. The filings represent a debt and are to provide notidce of the obligation Different types of debt are perfected in different manners. Your attorney will need to verify the perfection of the liens, the research can be done online in most states and counties. The financing agreement and the statement you signed may or may not be assignable, the filinings are valid for five years and can be a priority over other typres of debt.
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I agree with the previous answer.
I can only add that in many instances lenders protect themselves by making their loans assignable. So, the junk debt collector can proceed if they have the documents. If they do NOT have the correct documents and if the lien is not properly perfected, you may be able to mount an aggresive defense and to negotiate. Junk debt collectors are notorious for shrinking away if their paperwork is not correct and you may be able to settle for cents on the dollar or even prevail. However, not having seen all of the documents, I highly reccomend that you retain a good business lawyer in your jurisdiction.
FInally, debts incurred primarily for business or commercial purposes are not subject to the provisions of the Fair Debt Collection Practices Act, or FDCPA, as it is known.
Best wishes with it.
This answer is provided for informational purposes only. Actual legal advice can only be provided in an office consultation by an attorney licensed in your jurisdiction, with experience in the area of law in which your concern lies.Ask a similar question