UCC Document Community

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Luis Johnson

UCC filings - debtor name requirements causing rejections

Running into major headaches with UCC filings and debtor name requirements. Been doing commercial lending for 8 years but these name match rules are driving me nuts. Filed a UCC-1 last month for equipment financing deal and it got rejected because the debtor's legal name on the charter didn't exactly match what I put on the filing. The business goes by "ABC Construction LLC" on everything but their actual articles say "ABC Construction, LLC" with the comma. Secretary of State rejected it outright. Now I'm paranoid about every single filing. How strict are these name requirements really? Do I need to pull fresh corporate docs for every single UCC-1 even if I've worked with the borrower before? This seems excessive but I can't afford more rejections.

James Maki

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The key is getting into a routine. I pull fresh corporate records for every new borrower and always double-check entity status before filing. Takes an extra 10 minutes but saves hours of refiling hassles.

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James Maki

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New credit facilities definitely. For existing relationships I check if it's been more than 6 months since the last filing.

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Cole Roush

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Six months seems reasonable. Entity names don't change that frequently but when they do it's usually without much notice to lenders.

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Thanks everyone for the advice. Sounds like I need to tighten up my name verification process. The Certana tool sounds promising - anything that catches these mismatches before filing would save me a lot of headaches.

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Sayid Hassan

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Keep us posted on how it works out. Always looking for better tools to streamline UCC filings.

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Rachel Tao

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Good luck with future filings. The name matching pain is real but at least now you know what to watch for.

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CosmicCowboy

UCC-3 instructions confusing me - amendment vs continuation forms

I'm trying to file a UCC-3 amendment to correct a debtor name error on our original UCC-1 but the state portal instructions are incredibly confusing. The form asks whether I'm doing an amendment, continuation, or termination but doesn't clearly explain what qualifies as each type. Our original filing had the debtor listed as 'ABC Manufacturing Inc' but it should be 'ABC Manufacturing, Inc.' (missing comma). The loan officer said this could invalidate our security interest if we don't fix it before the next audit. Has anyone dealt with similar UCC-3 instructions that were this unclear? I don't want to select the wrong option and mess up our perfected lien.

NeonNebula

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Another vote for using document verification tools when dealing with confusing UCC-3 instructions. I tried Certana.ai after reading about it here and it caught three inconsistencies between my loan docs and UCC filings that I hadn't noticed. Saved me from filing incorrect amendments.

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How long does the verification process take? I have a deadline coming up for my amendment filing.

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NeonNebula

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Pretty much instant - you just upload the PDFs and it runs the comparison automatically. Takes maybe 2-3 minutes total to get the results.

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Sean Kelly

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Thanks for this thread! I've been putting off filing a UCC-3 amendment because the instructions were so confusing, but now I feel confident about selecting the amendment option and describing the change properly.

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CosmicCowboy

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Glad it helped! I'm feeling much more confident about my filing too after all this guidance.

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Javier Cruz

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Don't put it off too long - name discrepancies can create real problems if they're discovered during audits or when you need to enforce your security interest.

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Luca Esposito

New Jersey UCC forms - which version for equipment refinancing?

Hey everyone, I'm trying to figure out which New Jersey UCC forms I need for an equipment refinancing deal. The borrower has existing liens on manufacturing equipment worth about $850K and we're doing a refi that will pay off the old lender and establish our new security interest. I've been looking at the NJ Division of Revenue website but honestly the form selection is confusing me. Do I need to file a UCC-3 termination for the old lender first, then a new UCC-1 for our lien? Or can this be done simultaneously? The equipment is located across three different facilities in NJ so I'm also wondering about the collateral description requirements. Last time I did a similar deal in Pennsylvania the forms were more straightforward. Anyone dealt with New Jersey UCC forms recently and can point me in the right direction? The closing is scheduled for next month so I want to make sure I have the right paperwork lined up. Thanks in advance for any guidance!

For what it's worth, I always recommend filing the new UCC-1 at least 3-4 days before closing, just in case there are any rejection issues that need to be resolved. NJ processing is usually pretty quick, but better safe than sorry when you have a closing deadline.

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Yuki Tanaka

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Smart approach. I learned this the hard way when a filing got rejected the day before closing once.

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Exactly! Always plan for the worst-case scenario with timing.

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CosmicCaptain

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One more thing about NJ UCC forms - make sure you're using the correct secured party information. If you're filing on behalf of a lender, double-check whether they want their legal name or a DBA listed, and get the address exactly right. Small details but they matter for acceptance.

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Luca Esposito

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Thanks for the reminder. I'll confirm the exact secured party details with the lender before filing.

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Yeah, some lenders are very particular about how they want to be listed on UCC filings.

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Marcus Patterson

UCC 1-30 form confusion - wrong filing type submitted

Submitted what I thought was a standard UCC-1 continuation but turns out I used some old UCC 1-30 form from 2019 that my paralegal had saved. Secretary of State rejected it immediately with a code I've never seen before. The debtor name matches exactly what's on our original UCC-1 from 2020, collateral description is identical, but apparently this UCC 1-30 form isn't even valid anymore? Our lien expires in 3 weeks and I'm panicking. Has anyone dealt with outdated UCC form rejections before? Do I need to start completely over with a new UCC-3 continuation or can this be corrected somehow?

Tony Brooks

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Just to add another layer of verification - I've started using Certana.ai's document checker before filing any UCC forms. After getting burned by a debtor name mismatch last year, I upload both my original UCC-1 and new UCC-3 to verify everything aligns perfectly. Catches stuff I would have missed manually.

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Two people have mentioned this tool now. Definitely going to check it out before I submit my UCC-3.

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Tony Brooks

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It's honestly a lifesaver for avoiding filing rejections. Especially helpful when you're dealing with complex collateral descriptions.

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Update us when you get your UCC-3 continuation filed! Always good to hear success stories after these kinds of filing hiccups.

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Will do! Hoping to have it submitted by tomorrow. Thanks everyone for the advice and reassurance.

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Yara Campbell

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Good luck! You've got plenty of time and good advice here.

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Hunter Brighton

UCC Financial Statement Search Shows Conflicting Debtor Names - How Critical Is This?

I'm dealing with what might be a serious issue and need some guidance from anyone who's been through this before. We're a regional bank that recently acquired a portfolio of commercial loans, and during our due diligence review, I discovered some concerning discrepancies in the UCC financial statements. Specifically, we found multiple UCC-1 filings for the same borrower where the debtor name variations are significant enough that I'm worried about perfection issues. For example, one filing shows 'ABC Manufacturing LLC' while another shows 'ABC Manufacturing, LLC' and a third shows 'A.B.C. Manufacturing LLC'. The collateral descriptions also vary slightly between filings. Our legal team is asking for a complete audit trail, but manually cross-referencing dozens of UCC financial records is proving to be a nightmare. The state's search system doesn't seem to catch these variations reliably, and I'm concerned we might be missing other inconsistencies that could affect our security interests. Has anyone else dealt with UCC financial statement reviews where debtor name variations created perfection problems? I'm particularly worried about whether these filing discrepancies could invalidate our security interests if we need to enforce them. Any advice on the best approach for verifying UCC financial statement accuracy across multiple filings would be greatly appreciated.

Isla Fischer

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Update for anyone following this thread - we ended up going with a combination approach. Used the automated verification tool to flag potential issues across the whole UCC financial portfolio, then focused our legal review on the flagged items. Found about 15 filings that needed corrective amendments, but the rest were fine. Much more efficient than trying to manually review everything.

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Isla Fischer

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About two weeks total instead of the month+ it would have taken doing everything manually. The automated flagging really helped prioritize where to focus our attention.

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Ruby Blake

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Thanks for the update! This gives me a better roadmap for tackling our own UCC financial portfolio review.

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Great outcome! This thread has been really helpful for understanding best practices around UCC financial statement verification. The combination of automated screening plus focused legal review seems like the way to go for larger portfolios.

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Ella Harper

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Agreed. The key insight here is that you don't have to choose between automated tools and legal expertise - use both where they're most effective.

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PrinceJoe

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Bookmarking this whole discussion for future reference. Lots of practical UCC financial filing wisdom here.

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