Protect against default with Secured Transactions.

WHAT TO EXPECT

As someone in business, you know there are going to be transactions that are substantial enough to deserve collateral as security to protect against default. That’s the role of secured transactions. If you’re the creditor in a transaction, you don’t want to be on the hook for a huge sum of money without any way to protect yourself. By having a security interest to act upon, you can more quickly and easily recover the money you’re owed than you could with an unsecured transaction and business litigation.

SETTING UP A SECURED TRANSACTION:

Your goal with a secured transaction is to have the debtor offer an asset as security interest or collateral that can cover the outstanding debt. This asset should ideally be something that’s not likely to depreciate over time. To set up the terms of a secured transaction, you and the other party delineate them in a security agreement that gives you the right to foreclose upon a property or repossess something of value. The most common assets used as collateral include real estate, cars, stock, and jewelry. It’s up to you to decide whether something will retain its value well enough to work as collateral and help you avoid collections and assets recovery later on.

REASON TO USE A SECURED TRANSACTION:

Why bother with secured transactions when you can just sue the debtor instead? The main reason is that lawsuits are expensive and it’s much easier to get back the money you’re owed with a secured transaction. It’s also important to recognize that if a debtor goes bankrupt or loses the property in question, a secured creditor like you will take precedent over unsecured creditors. This is important, because it could mean the difference between getting your money back and getting nothing, and it makes it easier to skip pricey business litigation or drawn-out collections and assets recovery.

OUR ATTORNEY:

Attorney Eric Helmy

Eric Helmy

Business Attorney

TESTIMONIALS:

  • 100% Satisfaction with Communication
         Eric helped represent me with a very large lawsuit that was brought against me. 100% satisfaction with communication. It was timely; it was appropriate; it was insightful, thoughtful. From beginning to end, it was very clear that my legal counsel, Eric Helmy was by far the better warrior, so to speak, the intellectually, strategically, and we clearly outthought the opposition from beginning to end, and I don’t think they knew what hit them. The opposition didn’t have any choice but to really retreat and drop the suit, so I was very satisfied.
    Aloysius Fobia, M.D. Physician in Portland, Oregon
  • He'll Respond to Me When I Need Him.
         …I believe my law case never would have got off the ground without Eric’s attention to what was happening to me. I’m an excavator, in the tough times that have come along, there’s been several instances where the big developers think they’re not going to pay me, and I feel like they’re trying to [take advantage of] me. I can call Eric,…and he’ll come down and go sit in a meeting with me and all these big developers are writing checks before we’re getting up and leaving. …It’s nice to know that I have him on retainer, and he’ll respond for me when I need him. That’s the personal service you’ll get with him…
    Brad Bartlett Bartlett Excavation & Construction, LLC
  • We Left With Important Information and a Plan
         Our first meeting with Eric was very helpful. We left with important information and a plan, and now we have our own corporation! Eric was invaluable in the writing of our bylaws and in advising our business setup. He also had great insights into owning a business in the Northwest. Having him on our company’s side makes us feel ready for the legal hurdles we will face as our business grows.
    Jaclyn Stewart CEO of Jurevicious Studios
  • We are Very Pleased
         …We’ve worked with Eric on two different contract matters and [have] been very, very pleased with his advice and all the support he’s provided to members of our organization…We were really, really pleased with the quality of work Eric delivered, all the due diligence he performed, the advice he gave to the members of our staff…We would certainly recommend Eric, and we would hope to work with him again.
    Alice Forbes