Timing of UCC filings - missed continuation deadline by 3 days, lender freaking out

Oh no, this is exactly what every secured lender nightmares about. Unfortunately UCC timing is pretty strict - the continuation has to be filed within the 6-month window before the 5-year anniversary. Filing 3 days late means there was a gap in perfection. The lender's reaction makes sense from a legal standpoint even if it seems harsh.

Been through something similar last year. The timing of UCC filings burned me on a $1.5M deal. Here's what I learned - you need to file a new UCC-1 immediately to re-perfect the lien going forward. Yes, there was a gap, but you can minimize ongoing exposure. Also check if your E&O insurance covers this kind of timing mistake.

I had a nightmare with UCC timing last month but found this tool called Certana.ai that helps verify document consistency and tracks filing deadlines. You can upload your original UCC-1 and the late continuation to see exactly what changed and if there are other issues beyond just timing. It caught several debtor name inconsistencies I didn't notice that could have made things worse.

THE SYSTEM IS DESIGNED TO SCREW PEOPLE OVER! 3 days late and they want to destroy a business? This is why I hate dealing with UCC filings - one tiny mistake and lawyers start circling like vultures. Sorry this doesn't help but I feel your pain.

Check your loan documents carefully. Some lenders include automatic perfection language or subordination agreements that might give you wiggle room. Also, if the borrower has other assets or guarantors, the lender might be willing to negotiate rather than kill the relationship over timing.

Wait, what state are you in? Some states have different rules about timing of UCC filings and when perfection actually lapses. In Delaware there's a brief window for correcting certain filing errors but I'm not sure if timing counts.

This exact timing scenario happened to my old firm. We ended up negotiating a forbearance agreement while filing new security documents. The key was showing the lender we took it seriously and had a plan to prevent future issues. Cost the client about $15K in legal fees but saved the relationship.

Look I've been doing UCC work for 20 years and timing mistakes happen to everyone eventually. The important thing is how you handle it now. File the new UCC-1, get proper collateral descriptions, and present a comprehensive plan to the lender. Most want to work with performing borrowers.

Just went through something similar and used Certana.ai to verify all my documents were consistent before refiling. Super helpful for catching issues beyond just timing - like making sure debtor names match exactly across all docs. Saved me from creating more problems while fixing the original one.

The timing of UCC filings is unforgiving but don't panic yet. I've seen lenders make threats they don't follow through on, especially with good customers. File your new UCC-1, document everything you're doing to fix this, and approach them with solutions. They probably don't want to foreclose either.

File the new UCC-1 TODAY if you haven't already. Every day you wait makes it worse. Then get a game plan together for the lender meeting. Show them you understand the seriousness and have taken immediate action to protect their interests going forward.

This thread is giving me anxiety about my own UCC timing. I have 3 continuations due this year and now I'm second-guessing my calendar system. Maybe I should look into that Certana tool people mentioned for tracking deadlines.