Is it possible to go from being an unsecured creditor to a secured one in the middle of a business relationship rather than at the beginning?

Answer: Absolutely. Any creditor can become a secured creditor. The most difficult step involves convincing the customer to allow you to become a secured creditor. Another challenge is to find an unencumbered asset to perfect a security interest in. An additional challenge is making sure that your company goes through all of the necessary steps to perfect its security interest.

The information provided is not legal advice and is not a substitute for legal advise. Readers are encouraged to contact an attorney to discuss any questions that may arise after reading these questions and answers with their attorney to clarify any of the issues raised.