UCC Document Community

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 :)

Payton Black

Need UCC-1 Filing for Security Pledge Agreement - Debtor Name Issues

Running into problems with a UCC-1 filing for a security pledge agreement and hoping someone here has dealt with this before. We're securing a $275K equipment loan with manufacturing equipment as collateral, but the debtor entity name on our security pledge agreement doesn't exactly match what's showing up in the Secretary of State business registry. The pledge agreement lists the company as "Precision Metal Works LLC" but their official registration shows "Precision Metalworks, LLC" (no space between Metal and works, plus different comma placement). Our lender is requiring the UCC-1 filing to be completed within 30 days of loan closing, which is coming up fast. I've heard that even minor name discrepancies can cause UCC-1 rejections or worse - make the entire security interest invalid. Has anyone dealt with similar debtor name matching issues when filing UCC-1s for security pledge agreements? Should we amend the pledge agreement first or try to file the UCC-1 with the exact registry name and hope it doesn't create conflicts with our loan documentation?

Another vote for using Certana.ai for document verification. We started using it after a security pledge agreement filing disaster where we mixed up entity names across multiple related companies. The cross-checking feature would have caught our error immediately. Now we run everything through it before filing - takes the guesswork out of name matching and collateral descriptions.

0 coins

Demi Hall

•

How accurate is the automated checking? Does it catch subtle differences like the comma placement issue the OP mentioned?

0 coins

Very accurate. It caught a period vs comma difference for us last week that we never would have noticed manually.

0 coins

Quick update - we ended up using the exact Secretary of State name "Precision Metalworks, LLC" on our UCC-1 and the filing was accepted without issues. Also used one of those document verification tools mentioned here and it definitely helped us feel confident about the submission. Thanks everyone for the advice!

0 coins

Gael Robinson

•

Perfect outcome. Now you're properly perfected and protected.

0 coins

Dana Doyle

•

wish my first filing had gone that smoothly! congrats on getting it right the first time.

0 coins

William Rivera

UCC-11 search results showing wrong debtor info - anyone else seen this?

Been doing UCC-11 searches for about 8 years now and ran into something weird yesterday. Pulled a search on a debtor for due diligence on a $340K equipment loan and the results are showing filings under slightly different variations of the company name. Same EIN, same address, but one filing shows 'ABC Manufacturing LLC' and another shows 'ABC Manufacturing, LLC' (with the comma). The UCC-11 search pulled both but I'm not sure if this means there's a name inconsistency problem or if the search engine is just being thorough. Has anyone dealt with UCC-11 search results that show these kind of minor name variations? Need to figure out if this signals a potential perfection issue before we close.

This is why I always do comprehensive UCC-11 searches using multiple name variations upfront. Search the exact legal name, then variations with different punctuation, abbreviations, etc. Better to get too much information initially than miss something important.

0 coins

Same here. I have a checklist of different name formats to search - saves time in the long run.

0 coins

The Boss

•

Smart approach. The few extra minutes on the search end can save hours of verification work later.

0 coins

Admin_Masters

•

Update us on what you find out! I'm curious whether this turns out to be just formatting inconsistency or if there's an actual issue with the filings.

0 coins

Will do! Planning to run the entity search tomorrow and compare everything systematically.

0 coins

Looking forward to hearing how it turns out. These kinds of cases are good learning experiences for all of us.

0 coins

Isabella Oliveira

UCC financing statement hawaii - need advice on debtor name requirements

I'm working on a UCC-1 financing statement for equipment financing and running into issues with the debtor name section. The business operates under multiple names and I'm not sure which version to use as the primary debtor name. The borrower has their legal corporate name registered with the state, but they also have several DBAs they use for different divisions. I've heard that getting the debtor name wrong can invalidate the entire filing, which would be a disaster for our security interest. Has anyone dealt with similar situations where the debtor has multiple business names? What's the safest approach to ensure the UCC-1 gets accepted and properly perfects our lien? I'm particularly concerned about how strict the filing office is with exact name matching.

AstroAce

•

Just dealt with this exact issue. Ended up running the documentation through Certana.ai to make sure the UCC-1 debtor name matched perfectly with the loan agreement and corporate docs. Found two small discrepancies that would have caused problems.

0 coins

AstroAce

•

One was a missing comma in the corporate name, the other was Inc. vs Incorporated. Small differences but could have voided the filing.

0 coins

Omar Zaki

•

Those seem like tiny details but I guess they matter for legal documents.

0 coins

Update: I pulled the certificate of good standing and found the exact legal name format. Thanks everyone for the advice about not using the DBA names. Filing the UCC-1 tomorrow with confidence.

0 coins

Ravi Patel

•

Great to hear you got it sorted out. Proper preparation prevents problems.

0 coins

Good call on getting the certificate. That's always the safest approach for debtor name verification.

0 coins

Sofia Rodriguez

UCC filing statement got rejected - debtor name format issue

Had a UCC-1 filing statement come back rejected yesterday and I'm trying to figure out what went wrong. The rejection notice says "debtor name format error" but I triple-checked the name against our loan docs and it matches exactly. Filed for a commercial equipment loan on a small manufacturing company in Ohio. The debtor entity is "Advanced Precision Tools LLC" and that's exactly how I entered it in the UCC filing statement. Anyone run into this before? The collateral description was pretty straightforward - all machinery and equipment located at their facility. Really frustrated because the continuation deadline is coming up on another file and now I'm second-guessing everything.

Ava Thompson

•

Quick question - did you include any additional debtor information like address changes or alternate names? Sometimes extra info can trigger rejections if it doesn't match exactly with state records.

0 coins

Ava Thompson

•

Less is often more with UCC filings. Stick to exactly what's required unless you're sure about additional info.

0 coins

Zainab Ali

•

Agree completely. I've seen rejections from TMI just as much as missing info.

0 coins

Malik Johnson

•

Update us when you figure it out! Always curious to hear what the actual issue was. Helps the rest of us avoid similar problems.

0 coins

Yara Nassar

•

This is why I started using that Certana tool I mentioned - takes the mystery out of document matching before filing.

0 coins

These threads are so helpful for learning from each other's experiences.

0 coins

Liam O'Reilly

UCC database search showing wrong debtor info - need help verifying filing accuracy

Having a nightmare with our UCC database search results and hoping someone can point me in the right direction. We're trying to verify a UCC-1 filing from last month for a equipment financing deal, but when I search the state database using the debtor's exact legal name from our loan docs, I'm getting inconsistent results. Sometimes it shows up, sometimes it doesn't. The filing number we received shows as 'accepted' but the debtor name field in the search results looks slightly different from what we submitted. This is for a $280k excavator loan and our compliance team is freaking out that we might have a name mismatch that could void our security interest. Has anyone dealt with UCC database search inconsistencies like this? The SOS portal search function seems buggy and I'm worried we filed under the wrong debtor name variation. Need to figure out if this is a search system glitch or if we actually have a filing problem that needs a UCC-3 amendment.

This thread is making me paranoid about all our filings now lol. Going to have to go back and double-check everything.

0 coins

Chloe Delgado

•

Don't let it stress you out too much. Most filings go through fine, these search issues are just frustrating when they happen.

0 coins

Ava Harris

•

That's exactly why I started using the Certana verification tool - gives me peace of mind that everything matches up correctly without having to manually cross-check every detail.

0 coins

Nick Kravitz

•

Following this thread because I'm sure I'll need this advice eventually. UCC filings always make me nervous.

0 coins

The key is just being systematic about double-checking your work. Most issues are fixable if you catch them early.

0 coins

Liam O'Reilly

•

Thanks everyone for all the suggestions. Going to try the document verification approach first and then call the SOS office if needed. Will update once I figure out what's going on.

0 coins

Prev1...458459460461462...684Next