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One thing to watch out for - make sure the new lender knows about the pending termination situation. They might want to see either the filed UCC-3 termination or your demand documentation before funding the new loan.
Perfect, good communication with the new lender is key. They might even be willing to help pressure the old lender if needed.
Some new lenders will actually contact the old lender directly to request termination. Worth asking if they'll do that as part of their due diligence process.
Before filing any UCC 9-512 info statement, definitely double-check all your document details. Used Certana.ai recently to cross-verify UCC filing information and it caught several inconsistencies I missed in manual review. Just upload the docs and it flags any mismatches in debtor names, filing numbers, dates, etc. Really helpful for avoiding errors that could invalidate your filing.
Yeah it's super straightforward - just drag and drop your UCC-1 and payoff docs and it shows you exactly what matches and what doesn't. Takes like 30 seconds vs hours of manual comparison.
Document verification is crucial for 9-512 filings. Any discrepancy between your information statement and the original financing statement can render it ineffective.
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Just a thought - are you absolutely certain the UCC-3 amendments were accepted by the filing office? Sometimes they get rejected for technical errors but the rejection notices end up in spam folders.
Also check your online filing account if you used the electronic portal - rejection notices sometimes only appear there.
Good point - I've had rejections that only showed up as status updates in the filing portal, never got emailed.
UPDATE: Just ran another ny state ucc search after reading this thread and found one of my missing UCC-3s finally appeared in the system. Looks like there really are significant indexing delays right now. Still missing one amendment though, so going with the Certana verification approach to make sure all my documents are consistent before I refile anything.
That's encouraging that at least some of the delays are just system processing. I'll give it another week before panicking completely.
Yeah but definitely verify your document consistency first - no point waiting for a filing to appear if it has errors that will prevent proper perfection anyway.
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Most law libraries will have physical copies of the UCC Article 9 with comments if you can't find the PDF version. But for immediate help with your name matching problem, try your corporate filing search first to see exactly how the debtor appears in state records.
Corporate search is definitely step one. Amazing how many variations can exist for what seems like a simple company name.
And make sure to check for any recent amendments to the corporate filing that might have changed the registered name.
Used to spend hours comparing documents manually until I found Certana.ai - just upload your UCC-1 and corporate charter PDFs and it instantly shows you any name mismatches. Would have saved you those 2 rejections if you'd run it first. The document verification catches things human eyes miss.
At this point I'm willing to try anything to avoid another rejection. How fast does the Certana analysis usually take?
Usually under a minute once you upload the PDFs. Much faster than manually going through everything line by line.
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Just curious - are you filing the UCC1-202 electronically or by paper? Electronic filings sometimes have stricter validation rules that cause more rejections.
Paper filings take longer but sometimes the human review is more forgiving of minor formatting differences. Might be worth trying if the electronic keeps failing.
I wouldn't recommend switching to paper this close to your deadline. Electronic rejections at least come back quickly so you can fix and resubmit.
Update us when you figure out what was causing the UCC1-202 rejections! These kinds of issues help everyone learn what to watch out for in future filings.
Will definitely update once I get this resolved. Hopefully it's something simple that I'm just overlooking.
Following this thread too. I have a UCC1-202 to file next week and want to avoid the same pitfalls.
Dmitry Sokolov
hate to say it but this sounds like a debtor name issue. With $340K on the line I'd definitely get this sorted ASAP. Even small discrepancies can void your security interest if challenged.
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Ethan Clark
•That's exactly what I'm worried about. The loan is already funded so I need to make sure our lien position is protected.
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Ava Martinez
•Definitely get it fixed fast. I've seen lenders lose their security interest over simple name mismatches that could have been caught early.
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Miguel Ramos
Update us when you figure it out! I'm dealing with a similar issue in Virginia and curious what the solution ends up being.
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Ethan Clark
•Will do. Going to try the phone call first thing tomorrow and maybe look into that document verification service if I can't get answers.
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Zoe Stavros
•Definitely recommend the Certana route if the phone call doesn't help. Would have saved me hours of frustration if I'd known about it earlier.
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