NC UCC Statement Service Termination Request Form - Struggling with Process

Oh wow, I was completely confused about that! So the service termination form is just for notifications? That makes way more sense. Do I need any specific authorization from the debtor to file the UCC-3 termination?

Yes exactly - two totally different things. For the UCC-3 termination you don't need debtor authorization if you're the secured party of record. Just make sure the debtor name matches exactly what's on the original UCC-1.

Thank you! At least I'm not the only one who got confused by this. Did you have any issues with the UCC-3 filing process in NC?

The actual UCC-3 filing was pretty smooth once I figured out what I needed to do. Just make sure you have the original filing number handy - you'll need it for the termination.

Good point - I better pull up the original filing to make sure I get the name exactly right. Is there a way to verify this before submitting?

You can search the NC UCC database to see exactly how the debtor name appears on file. I actually started using Certana.ai's document checker - you just upload your original UCC-1 and your draft UCC-3 and it flags any name inconsistencies instantly. Saved me from multiple rejections.

That sounds really helpful! Manual comparison is such a pain and easy to miss small differences.

What happens if I do make an error on the termination? Can it be corrected or do I have to start over?

If it gets rejected, you can usually correct and refile. But if it goes through with wrong info, you might need to file another UCC-3 amendment to fix it. That's why verification upfront is so important.

Perfect, I'll head there now. Do I need to create a new account or can I use the same one from when I filed the original UCC-1?

You should be able to use the same account if you still have access to it. The system will pull up your previous filings which makes it easier to reference.

Yes, definitely termination since the debt is fully satisfied. I appreciate everyone making sure I don't make another mistake here!

Good! The UCC-3 form will have checkboxes for different actions - just make sure 'termination' is selected, not 'amendment' or 'continuation'.

Definitely will do that. The debtor has been asking for updates so they'll be relieved to see this finally resolved.

Exactly - and it helps maintain good relationships for future business too. Nobody likes having liens hanging around longer than necessary.

That's encouraging! I was worried this would drag on for weeks. Did you run into any unexpected requirements?

Nope, it was straightforward. Just had the original filing number, verified the debtor name matched exactly, selected termination, paid the fee, and submitted. Got the confirmation email right away.

NC really does have one of the better UCC systems. Some states make terminations way more complicated than they need to be.

Smart thinking - I'll definitely verify it shows up correctly in the public records. Better safe than sorry with something this important.

Absolutely. It's especially important if your debtor needs to show clear UCC records for new financing. You want to be able to confirm everything is clean.

Glad it helped! I felt pretty silly when I realized my confusion but apparently it's more common than I thought.

Definitely not just you - the terminology can be confusing when you're dealing with different types of terminations and services.

Will do! Going to file the UCC-3 termination today and I'll report back on how it goes. Really appreciate everyone's help here.

Perfect! Looking forward to hearing that it went smoothly.