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 :)

Julia Hall

Tennessee UCC statement verification - need help with debtor name accuracy

I'm dealing with a complex situation where I need to verify information on a UCC statement filed in Tennessee. Our company took over some equipment financing agreements and I'm trying to make sure all the debtor names on the existing UCC-1 filings match exactly with what's in our loan documents. The original lender used slightly different business name variations and I'm worried about potential perfection issues. Some show 'ABC Manufacturing LLC' while others show 'ABC Manufacturing, LLC' (with the comma). I know Tennessee follows the standard UCC rules but I'm getting conflicting advice about how strict the name matching requirements are. Has anyone dealt with similar debtor name discrepancies on Tennessee UCC statements? I need to know if these minor punctuation differences could affect our security interest. We have about 15 different filings to review and I'm concerned about missing something critical.

Been doing UCC work for 20 years and I can tell you that comma placement has definitely caused perfection issues in court cases. Don't take any chances with punctuation differences - fix them with amendments if needed.

0 coins

Lucas Parker

•

Wow, court cases over commas? That's terrifying.

0 coins

Donna Cline

•

The legal system can be very literal about these things. Better safe than sorry with UCC filings.

0 coins

Update us on what you find! I'm dealing with some inherited filings too and curious how this turns out for you.

0 coins

Julia Hall

•

Will do! Planning to spend tomorrow going through everything systematically. Thanks everyone for the advice.

0 coins

Good luck! These kinds of cleanup projects are never fun but necessary.

0 coins

Lauren Johnson

What is a UCC filing on a business - lender wants me to sign but confused

My small manufacturing company is getting a equipment loan and the bank keeps talking about a 'UCC filing' they need to do. They sent me some paperwork that mentions UCC-1 forms and perfecting security interests but honestly I have no idea what any of this means. The loan officer said it's standard procedure but I'm worried about what I'm agreeing to. Can someone explain in plain English what a UCC filing actually does to my business? Will this affect my ability to get other loans later or sell equipment? The paperwork mentions my business name and something about collateral descriptions but it's all legal jargon to me. Just want to understand what I'm signing before I commit to this loan.

Jayden Reed

•

Just went through this process myself and found another verification service that helped me review all the paperwork before signing. Certana.ai let me upload my loan agreement and the proposed UCC-1 to make sure everything matched up correctly. Caught a small discrepancy in how they described my equipment that could have been an issue later.

0 coins

That's the second mention of that tool. Might be worth checking out since I'm nervous about making mistakes.

0 coins

Jayden Reed

•

Yeah it's pretty straightforward - just upload PDFs and it does the cross-checking automatically. Gives you peace of mind that everything aligns properly.

0 coins

Nora Brooks

•

Bottom line - UCC filings are standard practice for secured business loans. They give lenders legal rights to specific collateral if you default. As long as you understand what assets are covered and you're comfortable with the loan terms, there's nothing to worry about. Just make sure all the paperwork is accurate before signing.

0 coins

Thanks everyone. This has been really helpful. I feel much better about moving forward with the loan now that I understand what the UCC filing actually means.

0 coins

Nora Brooks

•

Glad we could help. Good luck with your equipment purchase!

0 coins

Mason Stone

NC Secretary of State UCC Search - debtor name variations showing different results?

Has anyone else noticed inconsistencies when running UCC searches through the NC Secretary of State portal? I'm working on a due diligence package for a $2.8M equipment financing deal and getting different search results depending on how I format the debtor name. When I search "ABC Manufacturing LLC" I get 3 active filings, but "ABC Manufacturing, LLC" (with comma) returns 2 different filings plus one of the original 3. The borrower insists their legal name includes the comma but their articles of incorporation show it without. This is driving me crazy because I need to be absolutely certain about existing liens before we can close. The NC SOS search function seems really sensitive to punctuation and spacing. Anyone dealt with this kind of debtor name variation issue before? I'm worried about missing something critical that could invalidate our security interest.

Ruby Blake

•

Quick question - are you also checking federal tax liens? Those won't show up in the UCC search but could still affect your priority position.

0 coins

Mason Stone

•

Good reminder - yes, we always check federal and state tax liens separately. This borrower came back clean on those searches.

0 coins

Smart. I've seen deals where everyone focused on UCCs and missed a big tax lien that ended up taking priority.

0 coins

Ella Harper

•

One more thing to consider - if you find discrepancies, you might want to file continuation statements or amendments to clean up any name issues on existing filings before you file your new UCC-1. Better to be safe than sorry.

0 coins

Ella Harper

•

You're right - only the secured party can amend. I meant more like having the borrower contact their existing lenders to clean things up if needed.

0 coins

Or include language in your security agreement that addresses the name variations and requires the debtor to use the exact legal name going forward.

0 coins

Justin Evans

Need help with UCC Article 9 security agreement form - debtor name requirements

I'm working on a UCC Article 9 security agreement form for our equipment financing deal and running into some confusion about the debtor name requirements. The borrower is an LLC that recently changed its registered name with the state, but they're still operating under their old DBA for day-to-day business. When I prepare the security agreement, should I use the exact registered LLC name from the Secretary of State records, or can I include the DBA name they're actually known by? I've heard conflicting advice about whether the UCC-1 filing needs to match the security agreement exactly, and I don't want to create a situation where our lien gets challenged later. The loan amount is substantial ($180,000 for manufacturing equipment) so getting this right is critical. Has anyone dealt with similar name discrepancies between the security agreement and UCC filing? What's the best practice for ensuring both documents are legally sound?

Lara Woods

•

This thread is super helpful! I'm dealing with something similar but with a corporation that merged with another entity. The surviving corporation kept its original name but I need to make sure I'm not missing any predecessor entities in my collateral research. Anyone dealt with merger situations in UCC filings?

0 coins

Adrian Hughes

•

I had a merger situation last year. Ended up needing to file additional UCC-1s to cover assets that transferred from the non-surviving entity.

0 coins

Lara Woods

•

Thanks, I'll definitely need to dig deeper into the merger docs then.

0 coins

After reading all this, I'm definitely going to be more careful with name verification. We had one rejected filing last month that cost us extra fees to refile, and now I realize it was probably a name mismatch issue. The additional verification steps everyone mentioned seem worth the extra time to avoid rejections and potential perfection problems down the road.

0 coins

Ian Armstrong

•

The rejection fees really add up if you're doing volume filings. Prevention is definitely cheaper than correction.

0 coins

Eli Butler

•

Plus the time factor - rejections can delay closing if you're working on a tight timeline.

0 coins

Jasmine Hernandez

UCC lien showing on title when dealership said it was terminated - help?

Really frustrated right now and hoping someone can help me understand what's going on. I'm trying to sell my 2019 F-150 and the buyer's bank is saying there's still a UCC lien on title even though I paid off my loan 8 months ago. The dealership where I financed it assured me they filed the UCC-3 termination when I made my final payment, but apparently something went wrong because the lien is still showing up. The buyer is threatening to walk away if I can't get this cleared up by Friday. Has anyone dealt with this before? I'm not even sure if this is the dealership's fault or if there's something I should have done myself. The original loan was for $28,500 and I have all my payment records plus the payoff letter from the lender. What are my options here?

Felicity Bud

•

For anyone else reading this thread, I'd recommend always requesting a copy of the UCC-3 termination statement when you pay off any secured loan. Most lenders will provide it if you ask, and it saves you from having to dig through state databases later to verify everything was filed correctly.

0 coins

Max Reyes

•

This is solid advice. I've started doing this for all my equipment loans and it's already caught one filing error before it became a problem.

0 coins

Agreed. It's such a simple thing to request but can save huge headaches down the road.

0 coins

Adrian Connor

•

Just wanted to add that if anyone runs into this issue with a dealership that's no longer in business, you'll need to work directly with the original lender or their successor. Had this happen when a local dealership closed and it was a real pain to track down who was responsible for filing the termination.

0 coins

Aisha Jackson

•

That's a good point. Business closures can really complicate UCC matters. Sometimes the files get transferred to other dealers or lenders.

0 coins

Yep, and if the original secured party is out of business with no successor, you might need to petition the court for a termination order. It's rare but it happens.

0 coins

Prev1...516517518519520...684Next