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For anyone dealing with this regularly, I'd also suggest keeping records of successful search terms for entities you deal with repeatedly. I have a spreadsheet with client names and the exact search terms that actually work in NJ's system. Saves time on repeat searches.
Jason Brewer
•That's really smart. Like a cheat sheet for the quirks of each entity name. I wish the system just worked properly but workarounds are necessary.
Great idea. I'm going to start doing this too. Maybe even include notes about which variations returned results vs which ones came up empty.
Liam Cortez
One more suggestion - if you're really concerned about missing filings, consider running your critical searches through multiple approaches. Manual search with variations, then verify with a tool like Certana.ai that does comprehensive name matching. For high-stakes transactions, the redundancy is worth it to avoid missing something that could affect lien priority.
That makes sense for our bigger deals. The cost of missing a filing definitely outweighs the cost of double-checking with additional tools. Thanks for all the helpful suggestions everyone - this has been really enlightening.
Savannah Vin
•Glad this discussion helped! NJ's UCC search issues are one of those things everyone deals with but nobody talks about enough. Good to know we're all struggling with the same problems.
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Following this thread because we're having similar issues with our UCC filings. The rejection rate has been brutal lately and we need a better system too.
Madison King
•Same here. Started tracking our rejection rate last quarter and it's embarrassing how many simple errors we're making.
Julian Paolo
•The verification tools mentioned earlier might help. I've been researching Certana.ai after seeing it recommended in a few threads and it looks promising for catching those pre-submission errors.
Ella Knight
Update on the MA service I mentioned - it was Corporate Filing Solutions. They told me they handle multiple states including CT. Might be worth a call to see if they can help with your volume.
Perfect timing! I'll reach out to them tomorrow. Thanks for following up with the name.
Corporate Filing Solutions did our Delaware filings last year. Good experience overall, professional staff.
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Logan Chiang
this whole thread is giving me anxiety about our own filings... we do mostly inventory financing and I'm wondering if we should be doing more comprehensive lien searches on all our deals
Inventory financing actually has different risk profiles than equipment deals. The collateral turns over more frequently so even if there are existing liens, they might not affect your security interest in the same way.
Still worth doing basic searches though. Tax liens can attach to all business assets, not just specific equipment. Better safe than sorry.
Isla Fischer
Final thought - make sure your loan agreement has strong representations and warranties about undisclosed liens. Won't help with the priority issue but at least gives you recourse against the borrower if they didn't disclose material information during underwriting.
Kylo Ren
•Good reminder. I'll need to review our standard loan docs to see how strong our lien disclosure language is. This whole situation is definitely a learning experience.
Isla Fischer
•It's one of those things you never think about until it happens to you. Most borrowers are honest but the ones who aren't can really create headaches.
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Zoe Walker
One last thing - consider whether you need any special provisions for insurance proceeds. If the equipment gets destroyed, you want to make sure your security interest continues in the insurance payout.
I always require the lender to be named as loss payee or additional insured on the equipment policies. Gives you much better control over claims.
Natalie Chen
•Just make sure the insurance requirements are realistic. I've seen deals where the insurance costs were so high they made the project uneconomical.
Thanks everyone, this has been incredibly helpful. I think I have a much better handle on what needs to be in the security agreement. Going to run everything through legal review before closing, but at least now I know what questions to ask. Definitely going to check out that document verification tool someone mentioned too - sounds like it could save me from making costly mistakes.
Smart approach. Better to spend a little extra on review upfront than deal with enforceability problems later.
Nick Kravitz
•Let us know how it goes! Always interested to hear about real-world applications of this stuff.
Yuki Nakamura
Pro tip: always build a small buffer into your fee quotes for clients. Government costs change and it's better to have a pleasant surprise than an awkward conversation about unexpected charges.
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StarSurfer
•Same here. Adding 'subject to change' language to all our engagement letters now.
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Yuki Nakamura
•Smart move. Clients appreciate transparency about costs that are outside your control.
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Carmen Reyes
Thanks for posting this - I handle NY filings occasionally and had no idea about the fee changes. Definitely need to update my cost calculations before the next batch of continuations.
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Emma Wilson
•Glad this was helpful! I was kicking myself for not staying on top of the changes but sounds like I'm not alone.
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Andre Moreau
•We all get caught by these surprise updates. The important thing is adjusting going forward and maybe building in some protection against future changes.
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