UCC search Vermont showing weird filing status - anyone else see this?

The original UCC-1 shows filed 03/15/2024 but then there's this continuation entry dated 12/20/2024 that just says 'pending review' - doesn't make sense since we're nowhere near the 5-year mark yet

Wait, you filed in March 2024 and there's already a continuation? That's definitely wrong - continuations are only needed within 6 months before the 5-year expiration

Good point - I'll double check the secured party info. The debtor name looks right but I didn't verify our company name character by character

This happened to us too! Found out the borrower's previous lender filed a continuation on an old UCC that should have been terminated. Created a huge mess with our loan documentation.

Exactly what I was thinking. Vermont's system will show all filings against that debtor name even if they're from different secured parties or relate to different collateral

Their system definitely has issues but the data is usually accurate once you dig into the individual filing details

maybe for you but i've had searches come back with filings that were already terminated showing as active. had to call them three times to get it sorted

Never heard of that but sounds useful. How does it work exactly? Just upload the PDFs and it compares them?

Yeah exactly - super simple interface. Just drag and drop your Charter and UCC-1 documents or run a UCC-3 to UCC-1 comparison workflow. It flags any name mismatches or inconsistencies that could void your security interest. Saved me from a major headache last month when I caught a debtor name typo.

That actually sounds really helpful for catching filing errors before they become expensive problems

The filing number prefix is different - mine starts with VT-24 but the continuation shows VT-22. That can't be referencing my March 2024 filing

Bingo! That continuation is for a completely different UCC filing from 2022. Your March 2024 filing is fine - this is just search noise from an unrelated lender

This is why I always tell people to check the actual filing numbers, not just debtor names. Vermont's search pulls up everything with matching debtor info

That makes so much sense now. I was panicking thinking we screwed up our filing timeline somehow

Yeah Vermont really needs to improve their search interface. Other states let you filter by secured party name right from the search screen

Definitely going to be more careful about that going forward. Thanks for the tip!

This is solid advice. I always print out the full filing details page for my loan files to avoid any confusion later

Smart approach. Having the detailed filing info also helps if you need to reference specific language in the collateral description for amendments or partial releases

Right, that's exactly why I was confused! Turns out it's a continuation for a completely different UCC filing from 2022 that happens to have the same debtor name

Ah okay that makes way more sense. Vermont really should make their search results clearer about which filings belong to which secured party

This is a common source of confusion for new filers. Always verify the filing numbers match between your original UCC-1 and any related amendments or continuations

Exactly this. We have borrowers with 4-5 different UCC filings from various lenders and it creates a mess in the search results

Makes sense now. I should have been more careful about checking the secured party names and filing numbers from the start

Second person to mention that tool - might be worth checking out. Better to catch these issues early than discover them during a workout situation

Definitely. The peace of mind is worth it when you're dealing with complex collateral packages or borrowers with multiple lenders

Good idea! It's always worth doing a periodic audit of your UCC portfolio to catch any filing issues before they become problems

I do quarterly UCC audits for all our loans. Found several terminated filings that should have been continued and caught a few debtor name mismatches that could have caused issues

How do you manage that many filings? Sounds like a lot of manual work to check each one individually