UCC Document Community

To the original poster - definitely file that corrective amendment for the name issue. And maybe consider small claims court against the scam service if they're local. You shouldn't have to eat that $450 loss for their incompetent work, especially since they created a potential legal problem with the incorrect debtor name.

This whole thread is eye-opening - I almost fell for one of these services last week! They were advertising on LinkedIn claiming to be "certified UCC filing specialists" and wanted $395 for a simple continuation. Something felt off about their pushy sales tactics, so I ended up going directly to my state's Secretary of State website instead. Filed it myself in about 20 minutes for the $15 state fee. The online portal was actually really straightforward - they have dropdown menus for everything and clear instructions. I can't believe these scammers are charging 20-30x the actual cost for what's basically just copy-pasting information into a web form.

This thread has been incredibly helpful. I'm definitely going to implement some kind of automated tracking system rather than relying on manual spreadsheets. The risk of missing continuation deadlines on large secured loans is just too high to leave to human error.

Just wanted to add my experience from the banking side - we've found that creating a centralized UCC tracking database with automated alerts has been essential for managing our multi-state portfolio. Beyond just expiration dates, we also track filing fees by state since those can vary significantly and impact budgeting. One thing that's helped us is maintaining relationships with local counsel in each jurisdiction who can provide real-time updates on any procedural changes or system issues. The cost of having that expertise available is minimal compared to the potential loss from a missed continuation deadline.

Whatever you do, don't let the factor file their UCC-1 without resolving the bank issue first. I've seen borrowers get called into default for violating negative pledge clauses. Even if you sort it out later, the technical default can trigger acceleration or other penalties.

Just a quick update - talked to our bank this morning and they're actually open to the factoring arrangement. They want to review the factor agreement and may require some modifications to their UCC-1 filing, but it sounds workable. Thanks everyone for the guidance, especially about checking the negative pledge clause first.

Thanks everyone for clarifying this. I feel much more confident about moving forward with the UCC-3 amendment approach. Really appreciate the detailed explanations!

Just wanted to add from my experience - make sure your bank's legal team reviews the UCC-3 amendment before filing. I've seen cases where lenders had specific language requirements that weren't obvious from the standard forms. Also, if you're in a state that allows electronic filing, that can speed up the process significantly compared to paper filings. The $180K in equipment value you mentioned should definitely be properly secured, so getting this right is crucial for both you and your lender.

Update: Successfully filed the UCC-1 today. Used all the advice here - pulled fresh Articles of Incorporation to verify exact debtor name format, used broad collateral language covering all equipment, and filed electronically through NH SOS portal. Got immediate confirmation. Thanks everyone for the help and for clarifying this is purely a state-level filing process.

Great to see another successful filing! For future reference, one thing that's saved me headaches is keeping a checklist: 1) Pull current Articles/Certificate of Good Standing, 2) Cross-check exact debtor name character-by-character, 3) Use "all equipment now owned or hereafter acquired" language for mobile collateral, 4) File electronically for speed and confirmation. The state-level filing system in NH is actually pretty reliable once you get the name matching right. Sounds like you followed the process perfectly!