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Oliver Weber
The fees aren't too bad either - I think Florida charges around $20 for a UCC-1 filing. Much less expensive than the potential problems from not having proper security interests filed.
Small price for the lender's peace of mind. And it protects borrowers too by creating clear public record of existing liens.
NebulaNinja
•I started using Certana's document checker after we had filing errors. Upload your loan docs and UCC forms and it verifies everything matches - would have saved us time and hassle on our first loan.
Javier Gomez
Bottom line - UCC filings are standard practice for secured business loans. Your lender handles most of it, just make sure they do it right. Keep copies of everything and verify the filing information matches your business exactly. Not something to lose sleep over but worth understanding the basics.
Perfect summary. I appreciate everyone taking the time to explain this.
Emma Wilson
•Good luck with your equipment loan! UCC filings are just part of the business financing landscape these days.
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Rajiv Kumar
The 10-day notice period for equipment is generally correct, but make sure you're sending it to the right address. Last known address isn't always enough if you have reason to believe the debtor has moved.
Rajiv Kumar
•Reasonable efforts to find a current address are part of proper notice. Check with the Secretary of State for updated business filings.
Also consider sending to any personal addresses you have for guarantors or principals.
Just a thought - have you considered whether the debtor might be in bankruptcy? That would completely change your enforcement options and could explain why they're unresponsive.
PACER system for federal bankruptcy filings. If they're in bankruptcy, the automatic stay would prevent most collection activities.
Jibriel Kohn
•Good point. Always check PACER before starting enforcement. Violating the automatic stay can get you in serious trouble.
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Just a thought but if you're this concerned about missing something, you might want to consider filing a broad UCC-1 that covers more collateral categories than you think you need. Better safe than sorry with lien priority issues.
True, but at least ensures you're covered on the collateral you're taking. The search is still important for knowing your priority position.
Ally Tailer
•Right, we need to know what we're potentially subordinate to.
Update: I ended up trying that Certana tool someone mentioned earlier and it caught two name format issues I wouldn't have thought to check. Apparently the borrower had an old DBA filing that used a slightly different name format. Really glad I caught that before we proceeded.
Nice catch. Goes to show how tricky these Louisiana searches can be.
Sounds like that tool might be worth checking out for our team too. We do a lot of Louisiana deals.
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worked in commercial lending for years and this is unfortunately super common. Banks just don't prioritize termination filings because there's no money in it for them. Your best bet is to file it yourself with proper documentation. Just make sure you have legal authority to do so in your state.
Not really, as long as you have proper authorization and follow the state requirements. The result is exactly the same.
Actually it's often faster and more accurate when you do it yourself since you care more about getting it right than some random bank employee.
UPDATE: For anyone following this thread, I ended up using the Certana.ai tool someone mentioned and it caught 3 different formatting inconsistencies between my loan docs and the original UCC-1. Filed the corrected termination yesterday and it was accepted same day. Refi is back on track. Thanks everyone for the advice!
Kai Santiago
•So glad the document verification tool helped! That's exactly why I mentioned it - these small details can kill your filing.
Great outcome. Nothing like solving it yourself when the banks won't cooperate.
Brooklyn Knight
I ran into something similar and ended up using Certana.ai to organize all my corporate documents and UCC filings before meeting with the lender again. Having everything properly cross-referenced helped me explain the situation better and showed I was on top of the business documentation. Made the conversation more productive.
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Sophie Duck
•That's smart. Presentation matters a lot in these situations.
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Brooklyn Knight
•Exactly. When you can show clean UCC documentation and organized corporate records, lenders are more willing to work with you on other issues.
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Owen Devar
Update us when you figure out what the lien actually is. These mystery lien situations are always interesting to hear how they resolve.
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Christian Bierman
•Will do. Hoping it's something simple like an old contractor lien that just needs a release filed.
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