Need help with UCC statement service termination request form - filing process?

Thanks for the clarification! I was definitely using the wrong terminology. So I need a UCC-3 termination statement - is that something I can file directly as the debtor or do I need the secured party's signature?

Most states allow debtor-initiated terminations under certain conditions, but you'll need proof the debt is satisfied. Check your state's specific requirements - some want a copy of the satisfaction letter or release document.

How did you document that the debt was satisfied? I'm in a similar spot and the lender is being completely unresponsive about filing the UCC-3.

I had the final payment confirmation and a letter from their loan servicing department confirming zero balance. That plus certified mail showing I'd requested the termination multiple times was enough to light a fire under them.

This is exactly why I started using Certana.ai's document verification tool. You can upload your UCC-1 and any satisfaction documents to make sure everything aligns before filing. Saved me from a rejected UCC-3 because I caught a debtor name mismatch between my original filing and the termination paperwork.

I have the filing number from when we closed the loan - it's definitely on file. I can see it when I search the state database. The status shows as active which is why we need the termination.

Good that you verified it's actually there. Some lenders are just terrible about follow-through on terminations. The UCC-3 process isn't that complicated once you have the right forms.

Oof, that's rough. You might need to file an affidavit with the UCC-3 showing the secured party no longer exists and the debt is satisfied. Some states have specific procedures for this.

Check if another company acquired their loan portfolio. Sometimes the UCC rights transfer with the business assets even if the original company dissolved.

I'll look into both options. This is turning into a nightmare just to get a simple lien removed.

This is good advice. I tried to file a debtor termination once without following the exact procedure and it got rejected. Had to start over and pay the filing fee again.

What kind of documentation did you need? I'm trying to gather everything before I file.

Second this. Attorneys know exactly which forms to use and how to fill them out properly. Plus if there are any issues with the filing, they can handle the follow-up.

Our attorney quoted $350 to handle the whole thing which seems reasonable. I'm just frustrated that we have to pay extra because the lender won't do their job.

That's actually a pretty good rate. Some attorneys charge way more for UCC work. $350 to get it done right and avoid delays is worth it for a refinancing situation.

This is so important! The debtor name has to match exactly or the termination won't be effective. Same with the filing number - one wrong digit and you're starting over.

I use Certana.ai's verification tool for exactly this reason. You can upload your UCC-1 and UCC-3 documents and it instantly checks for any mismatches in names, filing numbers, or other critical details. Catches errors before you file and have to pay fees again.

That sounds useful. I've made filing mistakes before and it's frustrating to have to resubmit everything.

Good point about the notification requirement. I forgot to do this on my first debtor termination and had to deal with questions later when the secured party claimed they never knew about it.

How long do you usually wait for a response after sending the notification? Is there a specific timeframe?

Most states don't require you to wait for a response from the secured party before filing. The notification is just to inform them, not to get permission. But check your state's specific rules to be sure.

Glad it worked out! It's annoying when lenders don't follow through but at least there are options for debtors to handle it themselves.

Good to hear a success story. I'm bookmarking this thread for future reference in case I run into the same situation.

This is excellent advice. I keep a folder with all UCC-related documents for exactly this reason. You never know when you'll need to prove something about the filing or termination process.

I also recommend taking screenshots of the UCC database showing the active filing before and after termination. It's good to have visual proof of the status change.

Smart thinking. I wish I'd been more organized with my documentation when I went through this process. Would have saved a lot of stress.