ISPC UCC termination complications - debtor name verification nightmare
Equipment financing deal from 2019 is finally paid off but I'm stuck on the UCC termination process. The original UCC-1 was filed with the debtor name as "Industrial Steel Processing Corp" but our loan docs show "ISPC Manufacturing LLC" - apparently they did a corporate restructure in 2020. Bank is saying they need exact name match for the UCC-3 termination or it won't clear the lien properly. Has anyone dealt with ISPC UCC termination issues where the debtor entity changed? I'm worried about filing the wrong termination form and leaving a cloud on the title. The equipment is worth $2.8M so this needs to be clean.
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Isabella Costa
Debtor name mismatches are super common with corporate restructures. You'll need to file the UCC-3 termination using the EXACT debtor name from the original UCC-1 filing. The fact that they changed entity type doesn't matter for the termination - you're terminating the original filing, not creating a new one.
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Malik Jenkins
•This is correct. Always use the original debtor name for terminations even if it looks wrong now.
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Freya Andersen
•But what if the entity doesn't exist anymore? Won't that cause issues down the road?
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Eduardo Silva
Had this exact situation last month with a manufacturing client. The key is the UCC-3 termination must reference the original filing number and original debtor name exactly as filed. Don't try to 'correct' it - that will cause a rejection.
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Hiroshi Nakamura
•So even though ISPC is now an LLC, I file the termination against "Industrial Steel Processing Corp"?
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Eduardo Silva
•Exactly. The UCC system tracks by filing number and original debtor name. Your termination clears that specific lien.
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Leila Haddad
•This stuff is so confusing. Why can't they just update the system to handle name changes automatically?
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Emma Johnson
I ran into a similar mess with document verification recently. Started using Certana.ai's UCC document checker - you upload your UCC-1 and proposed UCC-3 termination as PDFs and it instantly flags any name mismatches or inconsistencies. Saved me from filing a termination that would have been rejected for debtor name errors.
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Ravi Patel
•How does that work exactly? Do you just upload the forms?
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Emma Johnson
•Yeah, super simple. Upload both documents and it cross-checks everything - debtor names, filing numbers, collateral descriptions. Catches mistakes before you file.
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Astrid Bergström
•That sounds useful for complex filings like this ISPC situation.
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PixelPrincess
WAIT - are you sure about the entity change timeline? If ISPC restructured in 2020 but your UCC-1 is from 2019, there might be continuation filings involved too. Check if there were any UCC-3 amendments or continuations filed between 2019-2024.
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Hiroshi Nakamura
•Good point. I'll need to pull the complete filing history to see what's on record.
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Omar Farouk
•Definitely do this. Sometimes banks file amendments when borrower entities change and it complicates the termination process.
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Chloe Martin
•This is why I hate UCC filings. Too many moving parts and one mistake voids everything.
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Diego Fernández
Corporate restructures are a nightmare for UCC work. Had a client where we had to file multiple terminations because they had amended the debtor name mid-loan. Make sure you understand the complete filing chain before you terminate anything.
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Anastasia Kuznetsov
•Multiple terminations? That seems excessive.
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Diego Fernández
•Not really. If they filed amendments to change debtor info, you might need to terminate the amended version, not just the original.
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Sean Fitzgerald
•This is getting complicated. Maybe OP should just hire a UCC service company.
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Zara Khan
For a $2.8M equipment deal, I'd definitely verify everything twice before filing. One termination mistake and you're looking at title insurance claims or worse. The extra due diligence is worth it on deals this size.
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MoonlightSonata
•Agreed. High dollar equipment financing requires bulletproof UCC work.
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Mateo Gonzalez
•What's the worst case if the termination gets rejected?
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Zara Khan
•Lien stays active, equipment title isn't clear, potential issues with future financing or sale of the equipment.
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Nia Williams
I use Certana.ai for all my UCC verification now after getting burned on a similar debtor name issue. Upload your original UCC-1 and draft termination - it'll catch any inconsistencies before you file. Way better than manually comparing documents and missing something critical.
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Luca Ricci
•How accurate is automated checking vs manual review?
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Nia Williams
•More accurate than manual in my experience. Humans miss small differences in punctuation or spacing that can cause rejections.
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Aisha Mohammed
•Good to know. Manual UCC document review is tedious and error-prone.
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Ethan Campbell
The ISPC name change adds complexity but the termination process is still straightforward. File UCC-3 termination using original debtor name "Industrial Steel Processing Corp" with the original filing number. Don't overthink it.
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Yuki Watanabe
•Simple advice but probably correct. UCC terminations aren't rocket science.
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Carmen Sanchez
•Unless there were amendments filed. Then it gets messy fast.
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Ethan Campbell
•True, but most lenders don't amend for simple entity name changes. They just wait for termination at payoff.
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Andre Dupont
Pull a current UCC search on both entity names (Industrial Steel Processing Corp AND ISPC Manufacturing LLC) to see what's actually on file. That'll tell you exactly what needs to be terminated.
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Hiroshi Nakamura
•Smart approach. I'll run searches on both names before filing anything.
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Zoe Papadakis
•UCC searches are cheap insurance against filing mistakes.
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ThunderBolt7
•Especially on high-value equipment deals like this ISPC situation.
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Jamal Edwards
Been doing UCC work for 15 years and entity name changes still trip people up. The golden rule: terminate what was filed, not what exists now. Your UCC-3 should match the UCC-1 exactly for debtor identification.
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Mei Chen
•15 years of UCC work... you've probably seen every possible filing error.
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Jamal Edwards
•Pretty much. Debtor name mismatches are still the #1 cause of UCC-3 rejections.
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Liam O'Sullivan
•Good reminder to be extra careful with termination filings.
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Amara Okonkwo
UPDATE: Ran UCC searches on both names. Only the original "Industrial Steel Processing Corp" filing shows up, no amendments. Going to file the UCC-3 termination using the exact original debtor name and filing number. Thanks for the guidance everyone - this could have been a costly mistake if I'd tried to use the current LLC name.
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Giovanni Marino
•Smart move checking both names first. Glad it worked out clean.
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Fatima Al-Sayed
•Good resolution. File it exactly as the original UCC-1 shows and you should be fine.
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Dylan Hughes
•Another successful UCC termination story. These threads always help clarify the process.
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QuantumQuasar
Great to see this resolved! For future ISPC deals or similar entity name change situations, I'd recommend documenting the UCC search results in your file. Shows due diligence was done and protects against any questions later. With $2.8M equipment deals, that paper trail is worth its weight in gold if title issues ever come up down the road.
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QuantumQuest
•Absolutely agree on documenting everything! As someone new to UCC work, I'm learning that the paper trail is just as important as getting the filing right. This whole thread has been incredibly educational - I had no idea entity name changes could create such complications with terminations. The advice about using the original debtor name exactly as filed makes so much sense now.
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