New York Secured Financing And Lending Lawyers

A skilled lawyer with the knowledge of secured lending under Article 9 of the Uniform Commercial Code can help your financial institution avoid mistakes that threaten or destroy your secured position. At Mitchell Pollack & Associates, we represent credit unions, banks, businesses and private lenders involved in credit transactions secured by collateral. Our attorneys can also enforce your rights against the collateral in the event of a borrower's default, both in civil court and in bankruptcy.

Secured Lending Support To Financial Institutions

For credit unions and banks, we can help streamline your secured lending operations by helping you develop checklists, sample documents and internal procedures to help ensure the safety and soundness of your loan practices.

For specific transactions, such as a mortgage security agreement, our secured lending lawyers can prepare all of the documentation you need from the security agreement, to pledge and guaranty instruments. Because the steps for perfecting a security interest can vary depending on the nature of the collateral, our familiarity with Article 9, mortgage lending and fixture financing can ensure that your interest is precise and enforceable.

We Handle All Issues Related To Creditors' Rights

Our attorneys have experience asserting and enforcing the rights of creditors in loan transactions, sales or lease agreements, or any other defaulted debt. Our understanding of the law of debtor-creditor relations, together with our experience with credit transactions, can help you avoid difficulty with nonperforming loans by protecting your interests on the front end. We make sure that the debtor is authorized to convey a mortgage or security interest, and that collateral schedules are accurate and regularly updated under the terms of the loan agreement.

If a borrower's business takes a turn for the worse, your exposure to loss can be reduced through a cross-default clause, a right to accelerate performance, or a contractual right to demand further security. The sensible use of rights against third parties, such as guarantors, co-makers, or affiliates, can also help protect your rights as a creditor if default is imminent or has already occurred.

We Consider Every Option

There are options even if your borrower threatens to file for bankruptcy protection. Our attorneys are skilled with troubled loan workouts that can help secure your position. When necessary, our knowledge of the laws regarding defaulted loans can help maximize the value to the creditor of collections litigation, repossession, foreclosure and liquidation, both against the original debtor and any third parties who might be held liable for the default.

If your debtor does wind up in bankruptcy, our knowledge both of the law and the procedure in bankruptcy court can help preserve and realize your right to payment, especially if your collateral position remains sound.

Business Or Private Lenders: Protecting Interest In Any Security

We also represent businesses and private lenders in the negotiation and documentation of secured lending transactions related to the sale of business assets, or venture capital commitments featuring a mix of equity and credit positions. Whether the collateral protecting your commitment involves real estate, motor vehicles, inventory, accounts receivable or investment securities, our experience with secured lending transactions of all kinds allows us to analyze the transaction and advise you with respect to the soundness of your collateral position and your priority interest in any given security.

Meet With The Experienced Team At Mitchell Pollack & Associates

Our courtroom experience also enables us to represent bank and business clients to enforce their security interests in commercial litigation when necessary. For more specific information about the range of our experience in secured transactions and the documentation and enforcement of security agreements, call 914-610-3418 or use our online contact form to schedule a meeting in New York or New Jersey.