UCC lien services recommendations after filing disaster with debtor name mismatch

This is why I always triple-check the exact legal name from the Secretary of State records before filing. But yeah, when you're dealing with legacy filings, these issues creep up all the time.

That's exactly what I'm worried about. We have filings from 2020-2022 where the process wasn't as rigorous as it should have been. Some of these are major equipment loans where the collateral is worth more than the outstanding balance.

Do you have any specific recommendations? I'm getting quotes from several firms but the pricing is all over the map, and I need to know they're actually competent with the technical aspects.

I've had good experiences with regional law firms that specialize in secured transactions. They usually have paralegals who do nothing but UCC work. Costs more than doing it yourself but way less than losing your security interest.

I haven't heard of that service. How thorough is the verification? With $2.3M at stake, I need to be absolutely sure we're catching every potential issue.

It's pretty comprehensive for document consistency checks. Obviously you'd still want legal review for complex situations, but it's great for identifying which filings need attention. The Charter to UCC-1 comparison feature caught several name variations I would have missed.

That sounds like it could be a good first step before bringing in the lawyers. Get a clear picture of what you're dealing with first.

Exactly. We've got 14 filings that need continuation in the next 8 months, and I want to make sure we're continuing them with the correct debtor names. Some may need amendments before continuation.

Smart thinking. Better to fix the names now than deal with priority issues later. Make sure whoever you hire understands the timing requirements - you can't just batch these together randomly.

That's exactly what I'm looking for. Can you share which company you used? I'm getting overwhelmed trying to coordinate this across multiple states.

I'll send you a private message with the details. They weren't cheap but they handled everything professionally and kept us on track with all the deadlines.

Project management is huge with these cleanup jobs. There are so many moving parts and deadlines to track.

Yeah, I'm definitely not trying to DIY this. Our legal department handles basic UCC-1 filings but this level of cleanup is beyond our capabilities.

Good call. With that much money at stake, professional help is the only way to go.

That's actually reassuring to hear. $40K sounds expensive but not unreasonable compared to the potential losses. How long did the whole process take?

about 3 months from start to finish. The research phase took the longest - actually figuring out what needed to be fixed.

Three months seems reasonable for that scope of work. The key is getting started quickly.

That's a smart approach. Use technology for the grunt work and professionals for the complex stuff. I'm going to try the Certana tool first to get a better handle on the scope.

Exactly. And the PDF upload feature makes it easy to batch process multiple filings at once. Really streamlines the whole workflow.

Good point. We do have some equipment that might qualify as fixtures, and we're definitely dealing with multiple states. I'll make sure to ask about that experience.

Yeah, fixture filings have their own rules and real estate record requirements. You want someone who really knows that area.

That's definitely the plan. We're already looking at implementing better checks and balances to prevent this from happening again.

Smart. Prevention is always cheaper than correction.

Will do. I'm hoping to have a game plan in place by next week. I'll update the thread once I've made some progress.

Thanks, looking forward to the update. This kind of information is really valuable for all of us.