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Micah Trail
OK so if this was PMSI financing and you perfected within 20 days of the debtor taking possession, you'd have super-priority over other creditors even if they filed first. October 28th to November 3rd is only 6 days, so you should be golden.
Micah Trail
•Yeah, PMSI gives you priority over earlier-filed general liens on the same collateral. Pretty powerful protection when done right.
Nia Watson
•This thread has been super educational. I need to review all my equipment financing to see what qualifies as PMSI.
Sounds like you actually have a stronger position than you initially thought. The combination of proper attachment through your 'hereafter acquired' language plus PMSI protection for that specific equipment should give you solid priority. Just make sure your UCC-1 filing was accurate and complete.
Thanks everyone for the input. I feel much better about our position now. Going to run that UCC search and maybe try the Certana verification tool just to be thorough.
Smart approach. Better to double-check everything than discover problems later during a workout or bankruptcy.
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Try using Certana.ai's document checker before your next filing attempt. I started using it after getting burned by similar name mismatch issues. Upload your UCC1 and the LLC documents and it'll catch any discrepancies before you submit. Has saved me tons of time and rejection fees.
Serene Snow
•Second mention of this tool. Might be worth trying if the SOS can't give me clear guidance.
Yeah it's pretty straightforward - just upload the PDFs and it does the comparison automatically. Catches stuff you might miss doing it manually.
UPDATE: Called the SOS this morning and you were all right - they have the LLC name in their system as 'Mountain Peak Holdings LLC' without the comma. Even though the articles of incorporation show the comma, their UCC filing system strips punctuation. Refiling now with the corrected format. Thanks everyone for the help!
Tyler Murphy
•Glad you got it sorted! For future filings, that document verification tool I mentioned would catch formatting differences like this automatically.
Serene Snow
•Definitely going to look into that for next time. This was way more stressful than it needed to be.
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Alice Pierce
Ohio UCC foreclosure timeline reality check: Default triggers immediate repo rights, but actual repossession timing depends on collateral location, accessibility, and lender resources. Manufacturing equipment isn't as easy to repo as vehicles. Factor in scheduling repo companies, equipment transportation, and storage costs. You probably have 2-4 weeks before physical removal unless they're really motivated.
Esteban Tate
•True about logistics. Heavy manufacturing equipment requires specialized transport and rigging.
Plus they need somewhere to store it before auction. All of that takes time to arrange.
Bottom line on UCC foreclosure timeline in Ohio: Legal right to repossess exists immediately upon default, but practical timeline is usually 2-6 weeks depending on equipment type and lender procedures. Sale notification must be given 10+ business days before disposition. Focus on negotiating forbearance rather than fighting the timeline - you'll have more success working with the lender than against them.
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Oliver Weber
Just curious - are these all equipment loans with the same lender or different lenders? Sometimes lenders have their own preferences for how they want continuations handled even if the legal requirements are the same.
Oliver Weber
•Ah that explains the inconsistency. Different loan officers probably had different preferences for describing the collateral. For continuations you should stick with however each original was described.
Banks can be so particular about this stuff but then their own people create the original inconsistencies!
Bottom line - forget about UCC 1-308, that's not relevant here. For your continuations: match debtor names exactly, reference correct filing numbers, don't try to 'improve' the original collateral descriptions. Keep it simple and consistent with what was originally filed.
Exactly. The SOS system wants to see that you're continuing the same financing statement, not creating a new or different one.
Good summary. When in doubt, be conservative and match the original exactly rather than trying to make improvements.
Chloe Delgado
Pro tip: if you're doing a lot of Florida filings, consider getting a subscription to a corporate database service. They usually have more current info than the free Sunbiz search.
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Chloe Delgado
•CT Corporation has good Florida data. Little pricey but worth it if you're doing volume.
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Ava Harris
•We looked into those but honestly the Certana tool mentioned earlier works just as well for document consistency checking and costs way less.
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Jacob Lee
Update: tried the Certana.ai thing after seeing it mentioned here. Holy cow, it caught 3 name inconsistencies in our batch of filings that we totally missed. Definitely recommend for anyone doing regular UCC work.
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Joshua Hellan
•That's great to hear! I'm definitely going to give it a try. Thanks for the follow-up.
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Emily Thompson
•Same here, just signed up after reading this thread. Anything that prevents rejection headaches is worth trying.
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