UCC Document Community

This thread is so helpful! We've got about 30 student debtor policy cases coming up for continuation next year and I was dreading it. Sounds like the key is to check everything thoroughly before filing and be prepared to do amendments first for name changes. The document verification tool mentioned sounds like it could save a lot of time too.

One more tip for student debtor policy cases - make sure you're tracking the continuation deadlines correctly. We almost missed one because we calculated from the wrong date. The 5-year period runs from the original UCC-1 filing date, not from when the debtor graduated or changed their name. Seems obvious but easy to confuse when you're dealing with multiple name changes and amendments.

This whole thread is a perfect example of why UCC filing is more complicated than people think. You can't just copy names from loan documents and assume they'll match what the state has on file. Due diligence on the front end saves so much headache later.

Thanks for posting this question and the follow-up. I'm dealing with a similar situation in South Carolina and this thread gave me the roadmap to resolve it. Going to call the UCC division tomorrow before submitting anything.

This thread has been really helpful. I was starting to second-guess my understanding of UCC continuation requirements. Sounds like the key is to separate contractual obligations from UCC statutory requirements and focus on the 6-month continuation window. I might try that Certana tool mentioned earlier to double-check my document consistency.

One last thing to consider - make sure you're monitoring the debtor's corporate status. If the company has changed names or merged since the original UCC-1 filing, you might need to file a UCC-3 amendment before or along with your continuation to update the debtor information. This is especially important with capital equipment where the values are high.

Don't forget about the continuation requirements once you file. UCC-1 filings are only effective for 5 years, so you'll need to file a continuation statement before it lapses if you want to maintain your perfected status.

Just to circle back to your original question - yes, security agreements can be oral, but getting it in writing now is definitely the smart move. It protects everyone involved and makes the UCC filing process much cleaner. Take your time with the debtor name verification - that's where most filing problems occur.

Document everything - every phone call, every letter, every attempt to contact the secured party. If you end up in court or need to file a complaint with banking regulators, you'll need a paper trail showing you made good faith efforts to resolve this properly.

UPDATE: Thanks everyone for the advice. I found a UCC-3 assignment from 2022 that I had missed - turns out the lien was transferred to a subsidiary of the bank that bought the original lender. Finally got through to the right people and have a termination in process. Sometimes you just need to dig deeper into the filing records.