UCC filing best practices after getting burned on debtor name mismatch

This is solid advice. We got burned once on a name that had been amended 6 months prior but the borrower was still using the old version on all their docs.

How current does the certificate need to be? Is 30 days old too stale?

I try to keep it within 10 days of filing. Names can change faster than you think, especially with LLCs doing business amendments.

Good point on the database search. Found two other active UCC-1s on this debtor with slightly different name formats. Going to match the most recent one.

Smart move. The SOS systems are inconsistent but at least you know what they've accepted before.

Never heard of that but sounds exactly what we need. Does it work with all state formats?

Works great - just upload PDFs and it cross-checks everything. Way faster than manually comparing charter docs to UCC forms.

Been using similar tools. The automated checking catches typos and formatting issues you miss when you're rushing.

This is the way. We laminated our checklist and keep it right next to the filing computer.

Ha! Whatever works. The key is making it foolproof so nobody skips steps when they're busy.

Can you share your collateral description best practices? That's another area where we've had issues.

Keep it broad enough to cover everything but specific enough to be enforceable. 'All equipment' is too vague, but listing every serial number is overkill.

Preach! Had a filing rejected because we used "&" instead of "and" in the business name. How is anyone supposed to know that?

The worst part is they don't tell you the specific reason half the time. Just "debtor name incorrect" with no explanation.

Exactly! Then you're playing guessing games with a million dollar loan on the line.

Tried calling ours but got voicemail. Will keep trying though.

Call right when they open - 8am usually. After 10am you'll never get through.

Yes! We file ours at 54 months now. Gives us buffer time if there are problems.

Good reminder. Also check if the debtor has changed names since the original filing - that affects continuation requirements.

Absolutely. Name changes require amendments before you can file the continuation.

This saved me in a lawsuit once. Had complete documentation showing our UCC-1 was filed correctly despite borrower claims.

Exactly. CYA documentation is just as important as filing correctly in the first place.

That's smart. Probably would have caught our issues. Going to implement this immediately.

Two-person rule works great. We caught three potential rejections last month this way.

Make sure the reviewer actually knows UCC rules though. Having someone rubber-stamp it doesn't help.

Which states do this? Would love to know for our multi-state deals.

Texas and Florida definitely will. Others vary - some are helpful, others won't discuss specific filings over the phone.

Glad you got it sorted! The Certana tool would have flagged that comma inconsistency immediately if you want to try it for next time.

Great news! A comma causing three rejections is exactly the kind of thing that drives us all crazy about these systems.

Congrats on getting it through before the deadline. That must have been stressful with a $2.8M deal hanging in the balance.