UCC Document Community

One more thing - if you end up having to file a complaint with your state's UCC office about a lender not filing the termination, document everything. Keep records of when you paid off the loan, when you contacted the lender, and their responses.

As someone who just went through a similar termination process, I'd recommend creating a tracking system for yourself. Set calendar reminders to check the SOS database weekly starting at the 15-day mark after payoff. I also kept a spreadsheet with the original filing number, payoff date, and lender contact info so I could quickly reference everything when following up. The key is being organized and persistent - lenders respond much better when you can cite specific dates and reference numbers rather than just calling to ask "what's the status?

Update us when you get it filed! Always helpful to know what actually worked for future reference.

I've dealt with this exact confusion before! The "addendum form" terminology is misleading - there's typically no separate form. What worked for me was using the standard UCC-3 amendment form, checking the box for "add collateral" in section 5, and then attaching continuation sheets labeled "Addendum A" or "Exhibit A" with the detailed equipment descriptions. Most states accept this format without issue. Just make sure to reference your original UCC-1 filing number on every page and keep your equipment descriptions specific enough to be enforceable but broad enough to cover variations in model numbers or replacements. Given your tight timeline, I'd recommend preparing the filing this way and submitting it rather than continuing to chase down a form that likely doesn't exist.

UPDATE: Ran UCC searches on both names. Only the original "Industrial Steel Processing Corp" filing shows up, no amendments. Going to file the UCC-3 termination using the exact original debtor name and filing number. Thanks for the guidance everyone - this could have been a costly mistake if I'd tried to use the current LLC name.

Great to see this resolved! For future ISPC deals or similar entity name change situations, I'd recommend documenting the UCC search results in your file. Shows due diligence was done and protects against any questions later. With $2.8M equipment deals, that paper trail is worth its weight in gold if title issues ever come up down the road.

Update - we refiled using 'all inventory, including raw materials, work-in-process, finished goods, and goods held for sale' and it was accepted! Thanks everyone for the help. The UCC definition was never the issue, just needed more descriptive language for the filing office. Credit line approved and we're back in business.

Great to see this resolved! This is exactly why I always recommend being more descriptive with collateral descriptions from the start. The UCC definition of inventory under 9-102 is clear - it includes goods held for sale or lease, raw materials, work in process, and materials consumed in business. Your wholesale distribution business obviously falls under this definition. But filing offices often want that extra clarity in the language. I typically use something like "all inventory of every kind and description, now owned or hereafter acquired, including without limitation raw materials, work-in-process, finished goods, and goods held for sale or lease" - it's comprehensive and covers all the bases while hitting the magic phrases that make filing officers happy.

Final thought - consider whether the debtor has any other assets or if this equipment is really your best shot at recovery. Sometimes it makes more sense to negotiate a payment plan or settlement rather than going through the full enforcement process.

As someone who's handled several UCC enforcement actions, I'd strongly recommend starting with a demand letter to the borrower before moving to repossession. Give them a final 10-day notice to cure the default - sometimes this motivates payment without the hassle of repo. If they don't respond, then proceed with self-help repossession if you can do it peacefully, or go straight to court if the situation looks confrontational. With $180k in collateral value against a $95k debt, you're in a good position, but make sure your UCC-1 filing is current and covers everything you plan to take. The "breach of peace" standard varies by jurisdiction, so when in doubt, get a court order. Document every step and consider hiring a professional repo company that knows UCC procedures.