Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
For what it's worth, I think you're probably fine on the comma issue, but definitely get that amendment filed. The bigger concern is whether there are OTHER discrepancies you haven't found yet. Have you compared addresses, collateral descriptions, all that stuff?
Sorry to add to your stress but better to find issues now. Check the debtor address against their current registered office, make sure collateral description matches your security agreement exactly.
This is why having a systematic verification process is so important. Can't rely on just eyeballing these documents when there's this much money on the line.
Update us after you file the UCC-3 amendment! I'm curious how quickly it gets processed and whether it resolves your concerns about the UCC records discrepancy.
Will definitely update once I get this sorted out. Filing the amendment first thing tomorrow morning and hopefully this whole nightmare will be behind me soon.
Demi Lagos
•Good luck! And don't beat yourself up too much about this - comma errors happen to everyone eventually. The important thing is catching it and fixing it quickly.
Join the conversation
Just to add one more verification step - after you file your UCC-1, pull a copy from the Texas SOS to make sure it was indexed correctly. Sometimes there are data entry errors that don't show up until you search for the filing.
Usually within a few hours for online filings. Paper filings take longer but most people do electronic now.
Electronic is definitely faster and you get immediate confirmation of acceptance or rejection.
Joshua Wood
Sounds like you've got a good plan now. UCC-1 financing statement for the promissory notes, careful attention to debtor names and collateral description, and verification after filing. Much more straightforward than trying to navigate Article 3 requirements that don't actually apply to your situation.
Ashley Adams
•Exactly. Thanks everyone for the help sorting this out. Really appreciate the guidance from people who've been through similar situations.
Justin Evans
•That's what these forums are for! Always happy to help fellow filers avoid the pitfalls we've already fallen into.
Join the conversation
One thing to investigate - was your loan sold or transferred to another bank after origination? Sometimes when loans are sold, the UCC filing responsibilities get confused between the original lender and the new one. If there was a transfer, the new bank might have assumed the original bank would handle continuation filings.
That could be significant. When loans are sold, the new lender usually needs to file a UCC-3 assignment to transfer the security interest. If they didn't do that properly, or if there was confusion about continuation responsibilities, you might have additional arguments.
Dmitry Popov
•Good catch. Loan transfers definitely complicate UCC filing chains. The assignment should be on record if it was done properly.
Malik Davis
Bottom line - you need a lawyer who specializes in Article 9 secured transactions. This isn't DIY territory with $320k at stake. The bank accepting sale proceeds while claiming unperfected security interest creates some interesting legal issues that need professional analysis.
You're probably right. I was hoping to handle this internally but the stakes are too high. Any suggestions on finding the right kind of lawyer? Most commercial attorneys don't specialize in UCC issues.
Malik Davis
•Look for attorneys who focus on banking law or commercial finance. They deal with UCC issues regularly. You can also check with your state bar association for referrals to commercial law specialists.
Join the conversation
Update for anyone still following - called Delaware SOS and they confirmed their search system ignores commas and most punctuation. So technically the original filing should be fine. But I'm still filing the UCC-3 amendment to match the note exactly. Better to have consistency across all documents.
Amina Diallo
•Glad you got confirmation from the source. That's the kind of definitive answer that actually helps with the decision making.
Good outcome. And honestly, with 8 months until continuation, you've got plenty of time to get everything aligned properly. No rush decisions needed.
This whole thread is why I use document verification tools now. Too many moving pieces to keep track of manually, especially when you're managing multiple deals. The automated cross-checking catches stuff that's easy to overlook when you're juggling deadlines.
Agreed. The human error factor is real, especially on complex commercial deals with lots of documentation. Automation helps catch the details.
What other tools do people use for UCC management? I feel like I'm still doing everything the hard way with spreadsheets and calendar reminders.
Lena Kowalski
If you're still having trouble, another option is using one of those document verification tools like Certana.ai. Friend of mine used it when she had a similar name mismatch issue and it caught the discrepancy before she submitted. You just upload your continuation form and original UCC-1 and it shows you where the names don't match exactly.
0 coins
Eve Freeman
•Someone else mentioned that tool too. Might be worth trying if I can't get clarity from the state office.
0 coins
Lena Kowalski
•Yeah it's pretty straightforward. Better than getting rejected and having to start over with the filing fees.
0 coins
DeShawn Washington
Update us when you figure it out! I'm sure other people will have the same issue with Oregon's name matching requirements.
0 coins
DeShawn Washington
•Good luck! Oregon's system can be frustrating but at least they're consistent about their requirements.
0 coins
Mei-Ling Chen
•Yeah please post an update. These name matching issues seem to be getting more common with all the business registry system updates.
0 coins