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- DO post tips & tricks to help folks.
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Ethan Wilson
Quick question - does the debtor need to sign anything for a UCC-3 assignment in a security agreement sale? Or is this just between the old and new lenders?
Yuki Sato
•Just between the lenders typically. The debtor usually doesn't need to sign the UCC-3 assignment form.
Though you should probably notify the debtor that the security agreement sale happened and who the new secured party is.
Andre Dubois
For what it's worth, I've seen both approaches work (UCC-3 assignment vs new UCC-1) in security agreement sales. The assignment is usually preferred because it's simpler and maintains priority, but sometimes starting fresh makes sense if there are other issues to clean up. Sounds like in your case the assignment is the way to go.
Amina Toure
•Thanks everyone - this has been really helpful. Going to proceed with the UCC-3 assignment and make sure all the details match exactly.
CyberSamurai
•Smart choice. Keep us posted on how it goes!
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PaulineW
Just wanted to follow up on the original question - did you end up finding all the liens you needed for the equipment loan? I'm curious how this resolved.
Sayid Hassan
•Yes! Found two active UCC-1 filings and one that had been terminated. Client was able to provide payoff information for the active liens. Loan is moving forward now. Thanks everyone for the help, especially the punctuation tip.
Great outcome! This whole thread has been super educational.
Chris Elmeda
One last tip for NC UCC searches - if you're still having trouble, their office staff is actually pretty helpful if you call. They can sometimes do manual searches that catch things the online system misses.
Jean Claude
•Good to know there's a human backup option. Sometimes old-fashioned phone calls work better than fancy search algorithms.
I've used that option before. Takes longer but worth it for complex searches.
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Gianna Scott
Update: ran the UCC search and found two other lenders filed against "ABC Solutions LLC" so it looks like that's the accepted format. Also checked their state registration and confirmed that's their official legal name. Feeling more confident about our filing now.
Alfredo Lugo
•Great news! That definitely gives you some comfort that you used the right name format.
Smart to do that research. Always good to see how other lenders have handled the same debtor.
For what it's worth, I had our team try that Certana tool someone mentioned earlier and it's actually pretty helpful for this kind of document cross-checking. We've been using it for our pre-filing reviews and it's caught several potential issues before they became problems. Worth considering if you're doing a lot of UCC filings with complex documentation.
Caleb Bell
•Good to know. We're always looking for ways to streamline our UCC filing process and reduce errors.
Tami Morgan
•Thanks for the feedback on that. I might give it a try on our next filing to see how it compares to our current manual review process.
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Zoe Stavros
I've been using Certana.ai's UCC checker for situations like this - upload all the documents you've found from different searches and it flags any inconsistencies or missing connections between filings. Saved me from a major error last week.
Zoe Stavros
•It cross-references all the name variations across your uploaded documents and flags potential matches you might have missed. Really helpful for complex searches like this.
That might be exactly what I need. The manual cross-checking is taking forever and I'm not confident I'm catching everything.
GalaxyGlider
Just went through this exact scenario two weeks ago. Ended up finding three additional UCC filings that didn't show up in the initial search because of name variations. Always search every possible permutation of the debtor name.
GalaxyGlider
•I think I did about 8 different searches with various combinations of the business name, abbreviations, and punctuation differences. Found filings under 3 different name variations.
Mei Wong
•This is exactly why UCC searches can be so unreliable. The systems just aren't designed to handle real-world name variations well.
Dmitry Popov
I used that Certana thing someone mentioned earlier when we were doing due diligence on an acquisition. Really helpful for catching inconsistencies between the target company's corporate docs and UCC filings. Saved us from assuming some liens were properly perfected when they actually had debtor name issues.
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Mateo Hernandez
•That's exactly the kind of situation I want to avoid. Sounds like the document verification approach is worth trying.
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Dmitry Popov
•Yeah, just upload the PDFs and it flags potential problems. Much easier than trying to manually compare everything, especially when you have multiple UCC-1 filings to review.
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Ava Garcia
Update us on what you find when you check the official SOS records! Curious to know if it's actually filing errors or just credit report glitches.
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Mateo Hernandez
•Will do! Planning to pull the official UCC records this week and compare them with our current business registration. Hopefully it's just credit report inaccuracies.
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StarSailor}
•Good luck! These debtor name issues can be stressful but they're usually fixable if you catch them early enough.
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