UCC Document Community

Bottom line: Delaware filing for Delaware corporation with mobile equipment. Just make sure the debtor name matches their certificate of incorporation exactly and you should be good to go.

Just want to add that for multi-state equipment deals, you might also want to consider whether you need to file UCC-1 continuation statements in different states if the debtor ever moves their state of incorporation. I had a client who incorporated in Delaware, we filed there, then two years later they reincorporated in Nevada for tax reasons. Had to scramble to get the UCC properly transferred before our Delaware filing lapsed. Something to keep in mind for your loan monitoring going forward.

Before you panic, double-check all the UCC filings and your loan documents. I've seen cases where lenders think they have a valid security interest but there are problems with the paperwork. Name mismatches, improper continuation filings, insufficient collateral descriptions - these issues can give you leverage in negotiations even if they don't completely invalidate the security interest.

I'm sorry you're going through this stress - UCC foreclosures can be overwhelming because they move so fast compared to what most people expect. Based on what others have shared here, it sounds like you have some potential avenues to explore before they can take your equipment. The name discrepancy issue that several people mentioned could be really important - if your UCC-1 was filed under your DBA name but your loan is with your legal entity name, that might give you some negotiating power. Also definitely check if they filed any required continuation statements if it's been over 5 years since the original filing. Even if you find issues that don't completely stop the foreclosure, they could give you leverage to negotiate a payment plan or modification. The key is acting quickly since once they sell the equipment, your options become much more limited. Document everything and get that legal consultation ASAP.

Try searching with different date ranges too. Sometimes the Florida system has issues with the default date settings.

I've dealt with similar frustrations in Florida's UCC system. One thing that helped me was creating a systematic approach - I keep a spreadsheet with all the name variations I try (with/without punctuation, different entity designations, etc.) so I don't repeat searches. Also, if you're doing multiple due diligence searches, consider reaching out to a registered agent service company - they often have workarounds for the state's quirky search limitations and can sometimes pull records more efficiently than the public interface allows.

Just wanted to confirm the current PA fee schedule since this thread has been helpful: UCC-1 initial filing $62, UCC-3 continuation $52, UCC-3 amendment $42, UCC-3 termination $42, debtor name search $8, certified copy $8, expedited processing +$50. All electronic filing required.

Really appreciate this detailed discussion - saved me a lot of headaches! Just wanted to add that PA also has a helpful feature where you can preview your UCC-3 continuation before final submission. It shows exactly how your filing will appear and flags any obvious formatting issues. The preview doesn't catch everything (like exact debtor name matching) but it's a good first check before paying the $52 fee. Also, for anyone doing multiple filings like Victoria mentioned, PA's portal lets you save incomplete filings as drafts, so you can prepare several continuations and submit them in batches rather than doing them one at a time.

Don't forget to document your search methodology for your file. If questions come up later about due diligence, you'll want to show exactly what searches you ran and when.

One thing I'd add that hasn't been mentioned yet - make sure to check if the debtor has any pending UCC amendments or terminations that might affect the lien status. I've seen situations where a lien appeared active in the initial search but there was a termination statement filed that just hadn't been processed yet. Also, if you're dealing with equipment or inventory that might have serial numbers, consider whether any of the existing liens are filed with specific collateral descriptions that could create conflicts with your intended filing.