UCC Document Community

Filed a California UCC-1 lien last week for equipment financing deal and got rejected this morning. The rejection notice says "debtor name does not match exactly" but I triple checked the borrower's legal name against their articles of incorporation. Used the exact name from their CA Secretary of State filing. Anyone else run into this with California UCC-1 liens? The collateral description was standard equipment language so I don't think that's the issue. Really need to get this perfected ASAP since we're approaching the 20-day window. What am I missing here?

Running into something confusing with the Wisconsin Secretary of State UCC search and hoping someone can shed light on this. I'm doing due diligence on a potential equipment acquisition and the Wisconsin Secretary of State UCC search is pulling up filings that don't seem to match what I expected. The debtor name I'm searching shows three different UCC-1 filings but with slightly different variations of the company name - one shows 'ABC Manufacturing LLC' another shows 'ABC Manufacturing, LLC' (with the comma) and a third shows 'A.B.C. Manufacturing LLC'. All have the same address but different filing numbers and dates spanning about 18 months. I'm trying to figure out if these are all the same entity or if there are actually multiple related companies. The collateral descriptions overlap significantly - all mention manufacturing equipment and machinery. Two of the filings show continuation statements filed, but one appears to have lapsed. Is this normal for Wisconsin UCC searches to show these kinds of name variations? Should I be concerned about which filing actually covers the equipment I'm looking at? This is for a pretty substantial transaction and I need to make sure I understand the lien priority correctly before we move forward.

My equipment financing company is moving forward with a UCC foreclosure new york procedure on some manufacturing equipment we financed last year. The debtor defaulted 4 months ago and we've been trying to work something out but they've gone completely silent. Our UCC-1 was filed properly in NY and shows active status when I check online. However I'm getting conflicting information about the notice requirements before we can actually seize and sell the collateral. Some sources say we need to give 10 days written notice before disposition, others mention additional requirements for commercial equipment over $50k (our collateral is worth about $180k). The debtor's business address changed since we filed the UCC-1 but we never amended it - could this create problems with our notice delivery? I've dealt with foreclosures in other states but NY seems to have some specific quirks I'm not familiar with. Has anyone gone through a UCC foreclosure new york process recently? What am I missing here?

I'm putting together a security agreement template for our equipment financing company and getting confused about what needs to match exactly with the UCC-1 filing. We've had 2 rejected filings this quarter because of debtor name inconsistencies between our security agreements and the UCC forms. One was rejected because we used "ABC Manufacturing LLC" in the security agreement but filed "ABC Manufacturing, LLC" (with the comma) on the UCC-1. Another rejection happened when we used the full corporate name from the articles but the debtor does business under a shorter version. I'm trying to create a standardized template that prevents these mismatches but I'm not sure what the exact requirements are for debtor names, collateral descriptions, and whether certain language needs to be identical between the security agreement and UCC filing. Should the security agreement template mirror the UCC-1 exactly or are there different standards? This is costing us time and filing fees every time we get it wrong.

I've been preparing UCC-1 filings for our equipment financing program and keep running into issues with the standard instructions sheet from our state's SOS office. The form says to enter debtor names exactly as they appear on organizational documents, but it doesn't explain how to handle middle initials vs full middle names, or what to do when the charter shows 'ABC Company LLC' but the loan docs show 'ABC Company, LLC' with a comma. Last week we had three filings rejected because of name variations that seemed minor. The instructions sheet really needs more specific examples of acceptable debtor name formats. Has anyone else found these UCC-1 instructions sheet guidelines too vague for complex business entities?