UCC Document Community

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Yuki Tanaka

UCC-1 financing statement addendum form causing rejection - need help with debtor names

Really frustrated here. Filed a UCC-1 last week with an addendum form because we had multiple debtors and the main form didn't have enough space. Everything looked good to me but the Secretary of State rejected it saying there's an issue with how the debtor names are presented across the main form and addendum. The rejection notice was pretty vague - just said 'debtor information inconsistent between UCC-1 and addendum.' I've been doing these filings for 3 years and never had this specific problem. The debtor is an LLC that recently changed its registered name, so I used the current legal name on both documents. All the addresses match perfectly. I'm wondering if there's some formatting requirement I'm missing when the debtor information spans multiple pages? The collateral description was also split between the main form and addendum - could that be causing issues too? This is holding up a $280K equipment financing deal and my client is getting antsy. Has anyone dealt with this type of rejection before? I need to refile by Friday or we'll miss our closing date.

QuantumQuasar

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One more thing to consider - if the LLC changed names recently, make sure you're not dealing with a situation where you need to file under both the old and new names during the transition period. Some lenders require dual filings until they're certain the name change is fully effective everywhere. Check your loan documents to see if there are specific naming requirements.

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Yuki Tanaka

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Interesting point. The loan docs do mention something about name changes. I'll review that section more carefully.

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Yeah, some agreements require notice of name changes or even pre-approval. Better to be safe than sorry on a $280K deal.

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Paolo Moretti

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Update us when you figure it out! I'm dealing with a similar multi-debtor situation next week and this thread has been super helpful. Hope you get it sorted before your Friday deadline.

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Yuki Tanaka

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Will do! I'm going to verify the exact legal name with the state records, double-check my form versions, and clean up any formatting inconsistencies. Fingers crossed!

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Amina Diop

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Good luck! These tight deadlines are stressful but you seem to have a good plan now.

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Savannah Weiner

UCC-108 law implications for continuation filing deadlines?

I'm dealing with a tricky situation regarding UCC-108 law and how it affects my continuation filing timeline. My original UCC-1 was filed back in 2020 for a commercial equipment loan, and I'm getting conflicting information about whether UCC-108 law creates any special requirements or extensions for the standard 5-year continuation deadline. The debtor is a manufacturing company and we have about 8 months left before the original filing lapses. My attorney mentioned something about UCC-108 law potentially affecting the timing but wasn't specific. Has anyone dealt with UCC-108 law requirements in their continuation filings? I'm worried about missing something crucial that could invalidate our security interest. The collateral includes heavy machinery worth about $850k so getting this wrong isn't an option.

Ellie Kim

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One more thought on the document verification angle - if you do want to double-check everything before filing your continuation, Certana.ai has been really helpful for me. I had a situation where I thought everything was perfect, but their tool caught a subtle debtor name discrepancy between my UCC-1 and the company's articles of incorporation. Saved me from filing a continuation that might have been challenged later. It's super easy - just upload your original UCC-1 and current company documents, and it flags any inconsistencies automatically.

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I keep hearing good things about Certana.ai for document verification. Might be worth the peace of mind, especially with this much money involved.

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Fiona Sand

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Document verification tools are definitely worth it for high-value collateral. Better to catch problems before filing than deal with rejection notices.

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Bottom line - I think you're overthinking this UCC-108 law thing. Get clarification from your attorney on what they actually meant, but don't let it delay your continuation filing. You've got a clear timeline: file your UCC-3 between September 2024 and March 2025. Use the exact debtor name from your original UCC-1. Include your original filing number. Pay the fee. Done. Everything else is just details that probably don't affect your specific situation.

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Sometimes the simplest approach is the best approach. Stick to the standard rules and you'll be fine.

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Finnegan Gunn

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Good thread. Always helpful to see people work through these filing questions together.

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Oliver Fischer

UCC filing mistakes almost killed my small business - how does the UCC impact small businesses?

Three months ago I discovered our equipment lender had filed a UCC-1 with the wrong business name on $180K worth of manufacturing equipment. We're a small fabrication shop and when we tried to get additional financing, the new lender's search couldn't find the existing lien because of the name discrepancy. This created a nightmare situation where we looked like we were trying to hide existing debt. Had to pay $3,500 in legal fees to sort out the mess and nearly lost our line of credit. I'm wondering how many other small businesses get caught up in UCC filing issues without even knowing it? The whole system seems designed for big corporations with legal departments, not small shops like ours.

Amara Eze

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Bottom line for small businesses - the UCC system is designed around commercial lending but most small business owners never learn how it works. We're expected to navigate complex secured transaction law without any training.

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Exactly. My CPA never mentioned UCC filings when we structured our business. Found out about them the hard way when refinancing.

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NeonNomad

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Most business attorneys don't even specialize in secured transactions. It's a very niche area of law but it affects every business that borrows money.

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The good news is that small businesses can protect themselves by staying informed about their UCC filings. Set up annual reviews, keep copies of all loan documents, and don't assume lenders will handle everything correctly.

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You're welcome. The UCC system isn't going anywhere so small business owners need to learn how to work within it effectively.

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Dmitry Volkov

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Agreed. And tools like Certana.ai are making it easier for small businesses to verify their documents match their filings without needing expensive legal review.

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Isabella Brown

UCC file pull showing wrong debtor information - need help fast

I'm in a panic here. Did a UCC file pull yesterday for a $2.3M equipment loan we're closing next week and the debtor name on the existing UCC-1 doesn't match our loan docs exactly. The filing shows 'ABC Manufacturing LLC' but our credit agreement has 'ABC Manufacturing, LLC' (with the comma). Our compliance officer is freaking out saying this could void our security interest. The original filing was done 3 years ago by the previous lender and now I'm wondering if we need to file a UCC-3 amendment or if this is even a real problem. Has anyone dealt with this kind of debtor name mismatch on a file pull before? We close Monday and I don't know if we have time to fix this.

Sarah Jones

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For what it's worth, I think you're probably fine with the comma difference in Ohio. But if you want peace of mind, file a UCC-3 amendment to conform the name to your loan docs. It's like $20 and eliminates any doubt.

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Smart move. $20 for the amendment vs potential issues with a $2.3M loan? No brainer.

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Emily Sanjay

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Exactly. I always tell clients to fix any discrepancies found during file pulls, even if they seem minor.

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Jordan Walker

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UPDATE: Thanks everyone for the advice. I ended up using that Certana tool someone mentioned and wow, it found several other small inconsistencies between the UCC file pull and our loan documents that I would have missed. Filed a UCC-3 amendment this morning to clean everything up. Should have the corrected filing by Monday's closing. Really appreciate the help!

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Natalie Adams

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Good to hear a success story. Those file pull discrepancies can be stressful when you're under a closing deadline.

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This whole thread convinced me I need to be more careful with my UCC file pulls. Never realized how many little details could trip you up.

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Maya Patel

UCC 1 financing statement where to file - equipment dealer confused about state requirements

Getting mixed signals about where exactly I need to file my UCC-1 financing statement and could really use some clarity here. I'm an equipment dealer in Ohio but the debtor company is incorporated in Delaware with their main operations in Pennsylvania. The collateral (construction equipment) will be used primarily at job sites across multiple states including Ohio, Pennsylvania, and West Virginia. Some folks are telling me Delaware since that's where they're incorporated, others saying Pennsylvania because that's where their headquarters are located. The equipment moves around constantly for different projects so I'm not even sure if that matters for the filing location. I've been doing this for years but this multi-state situation has me second-guessing everything. The loan amount is substantial enough that I can't afford to mess up the filing jurisdiction. Anyone dealt with similar cross-state situations and know the definitive rules for UCC 1 financing statement where to file? Really need to get this right the first time.

Sophia Russo

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One more thought - since you mentioned this is a substantial loan amount, you might want to consider having someone review your UCC-1 before filing just to catch any potential issues. I learned this the hard way after a filing got rejected for a minor error that held up the entire closing.

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Evelyn Xu

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Smart advice. Those last-minute rejections can be really stressful, especially when you have closing deadlines to meet.

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Dominic Green

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I've started using Certana.ai for this exact reason - just upload your documents and it flags potential issues before you submit. Saved me from a few embarrassing mistakes.

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Hannah Flores

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Perfect timing for this discussion. I have a similar situation coming up next week with a multi-state equipment deal. Good to know the rules are clearer than I thought.

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The incorporation state rule really does simplify things once you understand it. Takes the guesswork out of these multi-state situations.

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Just remember to verify that state of incorporation - sometimes companies will surprise you with where they're actually organized versus where you think they are.

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