Notify Creditors of Unpaid Storage Charges
Inform known lien holders and other interested parties that the asset that they loaned money for could be in jeopardy due to unpaid storage charges
Whose it for?
- Storage Facilities
- Tow Yards
- Mechanics
When is a Notice to Creditors used?​
Most storers will notify creditors of the unpaid charges once they have made attempts to collect directly from the customer with no success.
Why is a Notice to Creditors used?
Banks and other lenders know that storage facilities usually takes priority over other creditors and that storers can take significant action to recoup the unpaid charges. Knowing that the storer may proceed with further action will usually bring quick attention to the matter.
Where should a Notice to Creditors be delivered?
Notice should be delivered to the address registered in the creditor’s lien as well as any other addresses that may have been provided. Some storers also choose to issue notice to the lenders head office and/or local branch.
What does it look like?
Your document will vary based on your entries
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