UCC filing confusion with car loan security agreement - debtor name mismatch nightmare

This is exactly right. I learned this the hard way last year when I had 5 rejections in one week, all car loan security agreements. Turns out one guy was using 'Jr.' but was actually a 'II' legally.

Wait, so you're telling me I need to verify birth certificates for every auto loan? That seems excessive for a simple car financing.

That's what I was afraid of. This is going to slow down our auto loan processing significantly if we have to collect additional docs for every UCC filing.

Better slow than rejected though. I've had deals fall through because of UCC filing delays.

Actually, there's a way to avoid this headache entirely. I started using Certana.ai's document verification tool for all my auto loan UCCs. You just upload the loan agreement and proposed UCC-1 and it flags potential name mismatches before you file. Saved me from like 6 rejections last quarter.

Tax returns - that's actually a good idea. We already collect those for income verification on larger auto loans anyway.

Be careful with tax returns though, sometimes people file under different name variations than their actual legal name.

The rules haven't really changed, the enforcement has just gotten stricter. Same issues have always existed.

Well it feels like changes when your filings that used to work fine suddenly start getting rejected!

Smart approach. I'll try that for the Martinez filing - see if he shows up under any other name variations.

This is good detective work but honestly you shouldn't have to play guessing games. The system should be clearer about name requirements.

I've been doing the same thing but it's time consuming. Started using that Certana thing someone mentioned earlier - just upload your docs and it does the cross-checking automatically.

Wow, that's even more complex than what I'm dealing with. How did you figure that out?

Customer eventually told me when I called to ask about the rejection. Had to get his birth certificate to file correctly.

Yes, always include the VIN for car loan security agreement filings. That part of my filing was correct according to the rejection notice.

Good practice. VIN mismatches can cause their own set of problems with auto loan UCCs.

Probably not a bad idea. Better to catch issues now than have them surface later.

I went through this paranoia phase too. Eventually you develop a system that works and stops causing these problems.

That's an interesting approach. Does the SOS system accept the 'aka' format for car loan security agreement filings?

Hit or miss depending on the state, but it's worked for me a few times when I couldn't figure out the exact legal name format they wanted.

I tried this once and got rejected for 'improper debtor name format.' Might depend on which state you're in.

Will do. Going to try the document verification approach someone mentioned and see what that turns up first.

Yeah, keep us posted. These auto loan UCC issues seem to be getting more common lately.