Corporate180 clients retain control of their company and personal assets. We do not lien or assume control of bank accounts based on fees to be earned nor do we disperse funds for settlements. Our clients are responsible for the payment or dispersement of settlements and fees based on the representations they make prior to each settlement.
Corporate180 does not require nor execute UCC-1 (Uniform Commercial Code) liens against client assets as security for fees to be earned through the resolution of said client's claims. Such practice is common for "Bullet-proofer" type companies, yet as value was not provided at the time of the UCC security interest, it is Corporate180's position that these transactions are therefore invalid and potentially fraudulent. See California Civil Code Section 3440, any transfer made which was not accompanied by immediate delivery of value is void against the transferor's creditor. Also see Virginia Code § 55-80 indicates that every "... conveyance, assignment, or transfer... given with the intent to delay, hinder, or defraud creditors, purchasers, or other persons, of or from what they are or may be lawfully entitled to, shall, as to such creditors, purchasers, or other persons... be void." Additionally, Virginia Code § 55-81 renders "void, as to creditors, a conveyance, assignment, or transfer which is not upon consideration deemed valuable at law... or... by an insolvent transferor or by a transferor who has thereby rendered it solvent... as to creditors whose debts shall have been contracted at the time it was made." See http://www.virginiacollectionslaw.com/Articles/bullet_proofer.cfm.
Corporate180 represents clients in a variety of capacities, including but not limited to claims resolution services involving accounts payable and receivable.
Call (888) 422-2180 to speak with a representative and discuss your needs.