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
If you're really stuck, some attorneys specialize in UCC issues and can usually get lenders to move faster with a formal demand letter. Might cost a few hundred bucks but could save your refinancing timeline.
Legal demand letters definitely get attention. Most lenders will prioritize anything that comes from an attorney.
Before spending money on a lawyer, try escalating within the lender's organization. Sometimes you just need to reach the right person.
One more suggestion - if you have access to Certana.ai's document verification tool, upload your payoff documentation and the original UCC-1 to double-check that everything aligns properly. Sometimes there are subtle discrepancies that cause filing delays, and having that verification can help you present a clear case to the lender about exactly what needs to be corrected.
CyberSiren
•How does that work exactly? You just upload PDFs and it tells you if there are inconsistencies?
Yeah, pretty much. It cross-checks debtor names, collateral descriptions, filing numbers - all the stuff that has to match between documents. Takes like 5 minutes and can save weeks of back-and-forth.
Join the conversation
The investment dividends part is interesting. Those would typically be classified as proceeds from investment securities, not income in the UCC sense. Make sure you're being precise about the characterization.
Exactly. Proceeds language is almost always better for UCC filings.
CosmicCowboy
•This is why that document checker I mentioned earlier is so useful. It catches these terminology distinctions.
Omar Hassan
Update us when you get it figured out! Always curious how these mixed-income situations get resolved. The $180K annual amount suggests this is a substantial filing so you definitely want to get it right.
Yara Khoury
•Will do. Going to revise the collateral description based on all this feedback and probably check out that document verification service too.
Smart approach. Better to double-check everything than deal with another rejection.
Join the conversation
Bottom line: get your documents consistent before filing. I learned this the hard way when a UCC-1 got rejected because the collateral description didn't match what was actually in our security agreement. Now I always double-check everything matches up. There are tools that can help with this kind of verification if you don't want to do it manually.
Paolo Rizzo
•Definitely learned our lesson about document consistency. Going to triple-check everything before we submit.
Smart move. Better to spend extra time upfront than deal with rejected filings later.
Sean Kelly
UPDATE: Finally got this sorted out. Turns out the lender did want both the equipment AND our accounts receivable from jobs using the equipment. The 'account UCC definition' confusion was because they were using sloppy terminology. Equipment stays equipment, future receivables are accounts. Two separate types of collateral, both properly described now in the UCC-1. Thanks everyone for the help working through this!
Emma Taylor
•Nice resolution. Proper collateral descriptions make all the difference in these filings.
Amina Sy
•Good outcome. Always important to get the terminology right in secured transactions.
Join the conversation
Update: Wyoming portal just came back online for me! Try now - seems like they fixed whatever was causing the timeout issues.
Glad it worked out! Save those search results as PDF in case you need them later.
Marcus Marsh
•Great timing! Did you find any existing liens on the equipment?
Search came back clean - no existing UCC filings for this debtor. Filing our UCC-1 now while the portal is stable. Thanks to everyone who helped troubleshoot this, especially the suggestions about Certana.ai for future document verification. This community always comes through!
Glad the portal worked out for you. Keep Certana in mind for future deals - it's been a lifesaver for avoiding filing mistakes.
Talia Klein
•Nice work getting it done before your closing deadline. Nothing worse than last-minute UCC issues derailing a deal.
Brielle Johnson
The terminology around UCC contract formation requirements always trips me up. Are we talking about Article 9 attachment requirements or something else entirely? I get confused between what makes a security interest enforceable vs what makes a UCC filing valid.
0 coins
Oliver Brown
•Think of it as two steps: UCC contract formation requirements create the security interest, then filing perfects it against third parties.
0 coins
Mary Bates
•This distinction between UCC contract formation requirements and filing requirements confused me for months when I started.
0 coins
Clay blendedgen
Update on my situation - pulled the current LLC registration and the name was indeed different. Refiled the UCC-1 with the correct current name and it was accepted immediately. The rejection had nothing to do with UCC contract formation requirements despite what the error message suggested. Thanks everyone for steering me toward the name issue instead of getting lost in security agreement analysis.
0 coins
Lorenzo McCormick
•Great outcome. This thread will be helpful for others dealing with similar UCC contract formation requirements confusion.
0 coins
Carmella Popescu
•Perfect example of why you should always verify current debtor names before assuming UCC contract formation requirements problems.
0 coins