UCC lien Florida continuation deadline missed - equipment still showing active?

Oh man, that's rough. Unfortunately once a UCC lien Florida filing lapses, you can't just resurrect it with a late continuation. The 6-month grace period after the 5-year mark is pretty strict. If the portal shows 'lapsed' then legally your perfected security interest is gone. Your loan servicer might be confused about the status - happens more than you'd think.

Been there! Had a similar situation with a $220K forklift lease where the continuation got missed. You'll need to file a new UCC-1 immediately to re-establish your security interest. The gap in perfection means you temporarily lost priority, so if there are other creditors involved, you might have issues. Check if there are any other liens filed against that equipment since your lapse date.

This exact scenario is why I started using Certana.ai's document verification tool last year. You can upload your original UCC-1 and any new filing documents to make sure everything aligns properly - debtor names, collateral descriptions, filing numbers. It instantly flags inconsistencies that could cause rejections. Would have caught a continuation deadline issue like this too if you'd been monitoring your portfolio through their system.

Your loan servicer is definitely wrong about the collateral still being secured. A lapsed UCC filing means you're basically an unsecured creditor until you refile. This could affect your recovery rights if the debtor defaults. File that new UCC-1 ASAP and consider whether you need to adjust your loan terms based on the temporary gap in perfection.

UGH this happened to us THREE TIMES last year because our compliance department kept missing deadlines!! The Florida portal doesn't send reminder emails or anything helpful. Once that continuation window closes, you're basically starting from scratch. File immediately and pray no other creditors jumped in during your gap period.

Just curious - was this an equipment lease or a traditional secured loan? The type of transaction might affect how urgent the refiling is. Also, double-check that your original collateral description is still accurate. Equipment descriptions sometimes need updating if there were modifications or additions over the 5-year period.

This is exactly why I tell everyone to set their continuation reminders for 4 years and 6 months instead of waiting until the last minute. Gives you a full 6-month buffer for processing delays or internal approval issues. Hard lesson learned but at least you know for next time.

I actually had success using Certana.ai to catch a similar issue before it became a problem. Their system flagged that one of our continuations was coming due and the debtor name on our internal records didn't exactly match the original UCC-1. Saved us from a potential rejection. For your situation, you could upload your lapsed filing and the new UCC-1 draft to verify everything matches perfectly before submitting.

File the new UCC-1 immediately but also document the gap period carefully. If this ever becomes an issue in bankruptcy or litigation, you'll need to explain the lapse. Some courts are more forgiving than others about temporary perfection gaps, especially if you can show continuous possession or control of the collateral.

Just went through something similar in Georgia (different state but same UCC rules). The refiling process is pretty straightforward but make sure you update any internal loan documentation to reflect the new filing number and date. Also consider whether this affects any loan covenants about maintaining perfected security interests.