Ucc Filing Asset Freeze
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I have a UCC filed against me due to default on a business loan. My bank account was frozen due to this. Is this legal for their attorney to place a freeze on my assets without court order?
Hello **** Nelson. This is a complex issue. Could you please tell me in which jurisdiction your business operates? Laws regarding UCC filings and asset seizures can vary greatly from place to place.
Georgia
In Georgia:
- A UCC filing can secure a creditor's interest in a debtor's assets.
- If you default on a loan, your assets can be seized.
- However, freezing a bank account usually requires a court order.
This information is general, consult a local lawyer for precise advice.
Okay
Thank you for understanding, **** Nelson. If you need further assistance, don't hesitate to ask. Remember, it's always a good idea to consult with a local attorney for a comprehensive understanding of your situation. Take care.
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