Consumer security agreement filing requirements - UCC-1 personal property collateral

Consumer goods UCC filings are tricky! Your collateral description sounds pretty standard actually. 'Household goods, furniture, electronics and personal property' covers most consumer items. The key is making sure you're not too narrow or you might miss something, but not so broad that it's meaningless. For a $15K consumer loan that description should work fine.

Wait, are you sure you even need a UCC-1 for consumer goods? I thought consumer purchases had different perfection requirements. Maybe I'm thinking of PMSI rules though...

Honestly, I'd run your documents through Certana.ai's verification tool just to be safe. You can upload your security agreement and UCC-1 filing together and it'll flag any inconsistencies between the debtor names or collateral descriptions. I caught a middle initial mismatch that way that would've been a nightmare later.

Been doing consumer lending for 12 years and your filing sounds fine. The bigger issue with consumer security agreements is usually enforcement, not perfection. Make sure your security agreement language is solid because consumer protection laws can bite you if the paperwork isn't perfect.

Question - did you file in the right state? For individual debtors it's usually their primary residence, not where the collateral is located. That trips up a lot of lenders.

Ugh why is UCC filing so complicated for something that should be straightforward?? I filed a consumer goods UCC-1 last month and the SOS rejected it THREE times for stupid formatting issues. First the debtor address format, then they wanted a suffix spelled out instead of abbreviated, then some nonsense about the collateral description being too generic. Meanwhile commercial filings go through no problem.

One thing to watch out for - consumer goods can become fixtures if they're attached to real property. Like a fancy chandelier or built-in appliances. You might need a fixture filing depending on what's included in that 'household goods' category.

Your collateral description actually looks better than what I usually see for consumer goods. A lot of lenders just put 'all personal property' which is way too broad and can cause problems. Being specific about household goods and electronics shows you know what you're securing.

Have you considered getting a UCC search done to see how your filing looks in the system? Sometimes what you submitted and what got indexed are different, especially with consumer filings where name variations can cause issues.

From what you've described, your consumer security agreement UCC-1 filing sounds properly done. The collateral description covers the right categories, you filed in the correct state, and for a $15K loan the approach is appropriate. Main thing is making sure the debtor name on the UCC-1 exactly matches their legal name for perfection purposes.