How to properly release UCC filing after loan payoff - debtor demanding proof

This is so important - I've seen terminations get rejected because someone used 'Inc.' instead of 'Incorporated' in the debtor name.

Wait, do you have to terminate within a certain timeframe after payoff? I thought there was some rule about that.

Exactly! We had a deal almost fall through because an old UCC wasn't properly released and it showed up on the credit report.

How long does it usually take for the termination to show up in the system once you file it?

Usually within 24-48 hours if filed electronically, but I always tell clients to wait a week before assuming it's fully processed.

That sounds helpful - is it easy to use? I'm always paranoid about these filings.

Super straightforward - just upload the PDFs and it highlights any mismatches. Takes like 30 seconds to verify everything aligns properly.

Good point - we had equipment move from Ohio to Kentucky and had to deal with both states.

Wait, I'm confused - if the loan is completely paid off, isn't it always a full termination?

Usually yes, but sometimes you have multiple collateral schedules under one UCC-1 and only want to release specific items.

30 days?? I thought it was 20 days in most states.

It depends on whether it's consumer goods or commercial collateral - different rules apply.

You're both right - consumer goods are typically 20 days, commercial can be 30. Equipment financing usually falls under commercial rules.

Tell me about it - I once had a filing rejected because I used a comma instead of a period in an address.

This is why I always double-check everything before submitting. Better to take an extra 10 minutes than deal with rejection notices.

Should you also send them the filing receipt with the timestamp?

Absolutely - that proves when you actually filed it in case there are any timing disputes later.

That's exactly the kind of mistake that would cause problems - entity suffixes are critical for debtor name matching.

How much does something like that cost? Is it worth it for just one filing?

For the peace of mind and avoiding rejection delays, it's definitely worth it. Much cheaper than dealing with an angry borrower or compliance issues.

Good catch - I've seen people terminate based on outdated information and create a mess.

How do you track all the amendments? Is there an easy way to see the full filing history?

Most SOS search systems will show you the complete chain of filings when you look up the original number.

Agreed - better to file it quickly and correctly than let it drag out and create relationship problems.

Thanks everyone - I found the original filing details and I'm going to use one of those verification tools before submitting. Really appreciate all the guidance!