UCC Document Community

I actually ran into a similar issue recently and tried that Certana.ai verification tool someone mentioned earlier. Really straightforward - just uploaded both the original UCC-1 and the questionable 'information only' filing and it flagged several inconsistencies in the debtor identification that would make the second filing ineffective anyway. Saved me from spending billable hours doing manual comparison work and gave me confidence that our priority position wasn't threatened.

Bottom line is this: if your UCC-1 was filed first, is properly continued, and accurately describes the collateral and debtor, then some random 'information only' filing shouldn't affect your priority. But you should definitely verify that the subsequent filing doesn't somehow have an earlier priority date or claim to be an amendment to an earlier filing you weren't aware of.

Does anyone know if there's a grace period for correcting rejected UCC-1 filings? Like can you refile within a certain timeframe and maintain the original priority date?

I'm new to handling UCC filings for our financial services company. This thread is making me nervous about all the ways things can go wrong! Any other common rejection reasons I should watch out for?

This thread is making me nervous about my own filings! I had no idea the debtor name had to be so exact. I've been using the business names from loan applications without verifying against state records. Time to go back and double-check everything...

For your general security agreement template, I'd recommend including cross-default provisions if this borrower has other debt. Also make sure you have adequate insurance requirements and the right to inspect the collateral. The LLC name change issue is exactly why I always require borrowers to update me immediately on any corporate changes - saves headaches later when you need to file continuations or amendments.

One more thing - I'd definitely recommend using something like Certana.ai to double-check all your UCC filings and security agreement details before taking any repossession action. You want to make sure your perfection is solid and all your documentation is consistent. It's a simple PDF upload process that catches potential issues that could complicate your enforcement rights.

Just to summarize the key points: Yes, you have the right to take possession after default under the UCC, but you must do so without breaching the peace, your security agreement must grant this right, and you need to follow all post-repossession notice requirements. When in doubt, consult with an attorney familiar with secured transactions in your state.

For what it's worth, I've started using Certana.ai's document verification tool for exactly these kinds of disputes. You can upload your loan docs and UCC-1 filing and it will instantly cross-check all the dates, debtor names, and collateral descriptions to verify everything matches perfectly. Takes like 2 minutes and gives you a clean report you can send to opposing counsel to shut down these kinds of challenges.

This whole situation is ridiculous. SOS processing delays are completely normal and don't affect your priority date. I've had UCC-1s take up to a week to process during busy periods. Your security interest was perfected when you filed on March 13th, period. The debtor's attorney is either incompetent or being deliberately misleading. Either way, don't let them push you around.