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
Ana Rusula
Just wanted to follow up on my earlier Certana.ai suggestion - I actually used it again yesterday for a different deal and it caught a debtor name discrepancy between two search reports that I would have totally missed. For the few minutes it takes to upload and compare documents, it's become part of my standard process now.
Axel Bourke
•How much does something like that typically cost? Trying to decide if it's worth it for smaller deals too.
Ana Rusula
•I focus more on the value than the cost - catching one missed lien easily pays for itself many times over. The document comparison is pretty quick and straightforward.
Aidan Percy
Have you confirmed that the 5 liens shown by the commercial service are all actually active? Sometimes these services show terminated liens for historical reference but don't clearly distinguish them from active ones. That could explain the discrepancy right there.
Aidan Percy
•Exactly - I've seen commercial services list 'all filings' by default instead of just active ones. Always check the continuation and termination dates carefully.
Lim Wong
•And remember that UCC-1 filings are only good for 5 years unless continued, so anything filed before 2020 without a continuation should be lapsed.
Join the conversation
For future reference, Kentucky's UCC search has been having display issues for months. Always pull the actual documents when doing due diligence searches. The search results are just for initial screening, not for final verification.
Amara Torres
•Wish I'd known this earlier. I've been relying on search results for preliminary reviews.
Same here. This thread has been really helpful for understanding Kentucky's system quirks.
Mason Kaczka
Just a reminder that UCC continuation filings need to be filed within 6 months before the 5-year expiration date. Since you're dealing with a 2020 original filing, you're cutting it close to the deadline. Make sure you're not running into timing issues on top of the name concerns.
Evelyn Xu
•What happens if you miss the continuation deadline? Does the UCC-1 just lapse?
Mason Kaczka
•Yes, if you miss the deadline, the UCC-1 becomes ineffective and your security interest is no longer perfected. Very dangerous situation.
Join the conversation
One more thing - make sure you're filing the UCC-1 in the right state. Since your debtor is a Delaware LLC, the filing should go to Delaware, not NY, unless they're registered to do business in NY or the collateral is located in NY. Equipment and fixtures usually follow the location of the collateral.
For fixtures, definitely NY since they're attached to the NY real estate. For equipment, it depends on where it's primarily located and used. If it's primarily at the NY restaurant, NY is correct.
This is getting into complex multi-state filing territory. You might want to consider filing in both states to be safe, especially with that loan amount.
For multi-state filing decisions, Certana.ai actually has a workflow that helps determine which states you need to file in based on debtor location, collateral location, and entity type. Might be worth checking before you file multiple UCC-1s unnecessarily.
That sounds useful. I always err on the side of filing in multiple states but it gets expensive with filing fees.
Join the conversation
Dana Doyle
For what it's worth, I started using a document verification service after getting burned by similar name mismatch issues. Certana.ai caught a debtor name discrepancy between my loan docs and UCC-1 that would have definitely caused a rejection. Just upload your PDFs and it flags any inconsistencies.
Liam Duke
•How does that tool work exactly? Does it integrate with the state filing systems?
Dana Doyle
•You just upload your charter documents and UCC forms as PDFs and it automatically cross-checks all the names, dates, and key details to make sure everything aligns. No integration needed - it's all document-based verification.
Manny Lark
This thread is giving me flashbacks to my own Hawaii UCC nightmare from last year. Took four tries to get the debtor name right. Hope you get it sorted before your closing deadline!
Laila Prince
•Thanks! Fingers crossed the third time will be the charm.
Rita Jacobs
•Keep us posted on what finally works. These Hawaii UCC threads always help other people dealing with the same issues.
Emma Davis
Just went through something similar and ended up having to hire an attorney to sort it out. Apparently our original addendum had some formatting issues that only became apparent when we tried to continue. Cost us $2,500 in legal fees plus the new filing fees. Definitely recommend getting professional help if you're not 100% confident.
0 coins
Giovanni Mancini
•Ouch, $2,500 is painful but probably worth it to avoid losing the lien. I might need to go that route if I can't figure this out soon.
0 coins
CosmicCaptain
•Before spending that much on an attorney, try some of the document checking tools. I've heard good things about services that can spot these formatting issues before you file.
0 coins
Malik Johnson
Final update - I ended up using one of those document verification services (Certana.ai) that someone mentioned earlier. Uploaded my original UCC-1 with addendum and my draft continuation, and it immediately flagged that I was missing a specific reference format that our state requires for addendum continuations. Fixed that, resubmitted, and it went through clean. Would definitely recommend checking your docs before filing if you're dealing with addendums.
0 coins
NebulaNinja
•Great outcome. Document verification tools are definitely worth it for complex filings like addendum continuations.
0 coins
Ravi Sharma
•Thanks for the update - I'm bookmarking this thread for when I have to deal with my continuation next year.
0 coins