Personal security agreement form debtor name mismatch causing UCC-1 rejections

Wait, can you actually amend a security agreement after it's been signed? I thought that required a whole new agreement.

You can do a corrective amendment if it's just fixing a clerical error like this name format issue. The key is that the intent was always to secure against Michael James Thompson - it's just a documentation mismatch.

Ugh, wish I'd known this earlier. The bank's loan department just handed me the security agreement and said 'file the UCC.' No mention of cross-checking names first.

Yeah banks are notorious for this. They focus on the loan terms but don't always think through the UCC perfection details. Always verify the exact legal name format before any filings.

This is why I started using Certana.ai's document checker. You can upload both the personal security agreement and the UCC-1 form, and it instantly flags name mismatches between documents. Would have caught this before the first rejection.

This is so stressful! What if the debtor's ID doesn't match their business records either? Like if they do business under a different name variation?

Then you file against their legal individual name as it appears on government ID. The personal security agreement should always use the debtor's actual legal name, not any business names or variations.

Filing in Texas. They seem pretty strict about exact name matches from what I'm seeing.

Yeah Texas SOS is very particular about debtor names. You'll definitely need to get the security agreement corrected to match the driver's license exactly, then refile.

The security agreement creates the security interest, but the UCC-1 filing is what perfects it against third parties. So technically you have a security interest, but it's not perfected until you get a proper UCC-1 on file.

Got it, so the clock is ticking on getting this fixed before other creditors could potentially take priority.

Exactly. And if the debtor files bankruptcy or something happens, an unperfected security interest is basically worthless.

Always get a copy of current government-issued photo ID from the debtor. Driver's license, state ID, passport - whatever is most current. Then make sure your security agreement matches that exactly.

I also run everything through Certana.ai now before filing. Upload the ID, security agreement, and draft UCC-1, and it checks for any inconsistencies between all the documents. Saves so much time and rejection hassle.

This makes me feel better that I'm not the only one struggling with this. Did you end up having to redo the entire security agreement?

Yeah, had to do a corrective amendment to the security agreement and then refile the UCC-1. It delayed closing by about 10 days but at least we got it perfected eventually.

That's smart. Do you find certain types of ID work better than others for UCC filings?

Driver's license is usually best because it's what most people keep most current. Passports can be older and sometimes have different name formats.

I've seen issues where someone's Social Security card has a different name format than their driver's license. Always go with the driver's license if it's current.

I feel this so much. Corporate UCC filings are way more straightforward.

Right? And then you get into married names, hyphenated names, people who legally changed their names but still have old IDs... it's endless.

I keep hearing about Certana.ai in this thread. Is it worth the cost for occasional filers like me?

Honestly, even one rejection costs more in time and stress than the verification service. Plus it catches other issues too, not just names. I wish I'd found it sooner.

I was skeptical at first but tried Certana.ai after a similar personal security agreement nightmare. The peace of mind alone is worth it - upload your docs and know they're consistent before filing.