UCC Document Community

As a newcomer to this community and UCC filings in general, I'm amazed by how thorough and helpful this discussion has been! I'm currently dealing with my first UCC termination request (different bank than Cross River, but similar delays), and the strategies shared here are incredibly valuable. What really stands out to me is how this seems to be a systemic issue across multiple lenders - they're efficient when securing their interests but mysteriously slow when it's time to release them. I'm planning to implement several approaches from this thread: the certified letter with UCC Section 9-513 reference, document verification through Certana, and executive escalation if needed. For other newcomers like me, it's clear that persistence and multiple pressure points are key. @Olivia Martinez, I really hope you get resolution soon - please keep us updated on which approach finally works! This thread should honestly be pinned as a reference guide for anyone dealing with UCC termination delays. Thank you all for sharing such specific, actionable advice!

As someone completely new to UCC filings, this thread has been an absolute goldmine of information! I'm currently helping my small business navigate our first equipment loan, and reading about these termination delays with Cross River and other banks is both educational and concerning. The systematic approach everyone has outlined here - combining certified letters citing UCC Section 9-513, document verification tools like Certana, executive escalation, and even reputation pressure - seems like the only way to get results with these lenders. What bothers me most is how banks can be lightning-fast when filing initial UCCs to protect their interests, but suddenly develop "processing delays" when it's time to file terminations that benefit borrowers. @Olivia Martinez, I really hope you get this resolved soon - 2+ months is completely unreasonable. For other newcomers like me, this thread is a perfect example of why building relationships in communities like this is so valuable. The real-world experience and specific actionable advice here is worth more than any generic "how to" guide. Thank you all for sharing your knowledge so generously!

Update us on how this turns out! Always interested to hear about fixture filing experiences. And definitely confirm that landlord consent situation - some leases specifically prohibit fixture filings or require advance notice. Don't want the landlord objecting after you've already filed.

Just went through a similar fixture filing situation last month. One thing that really helped was creating a checklist before starting: 1) Confirm state-specific filing location requirements, 2) Obtain complete legal description from deed records, 3) Review lease for any fixture filing restrictions or notice requirements, 4) Verify debtor name matches exactly with property records, 5) Check UCC-1 form for fixture filing checkbox and proper real estate description format. The $850K value definitely makes this high-stakes - consider having both your UCC counsel and a local real estate attorney review before filing. Also, if your state allows dual filing (SOS + real estate records), the extra cost might be worth the peace of mind for this amount.

For future reference, always run your loan documents through a verification process before funding. Whether that's internal legal review or a service like Certana.ai, you need to catch these gaps early. The distinction between promissory notes and security agreements trips up even experienced lenders sometimes.

This is a really common issue that catches a lot of lenders off guard. Based on what you've described, it sounds like you may have an attachment problem (the security agreement part) but definitely have a perfection problem (no UCC-1 filing). The other creditor likely has priority if they properly perfected first, regardless of when your note was signed. I'd strongly recommend getting an emergency consultation with a UCC attorney ASAP - don't wait until Monday. Some states allow for late filings that can still protect you against future creditors, and there might be other legal strategies available depending on the specific language in your documents and the other creditor's filing. Time is critical here, especially with equipment that could be repossessed.

Diego, this thread has covered most of the critical points, but I'd add one more perspective from someone who's been through Article 9 sales on both sides of the table. The "commercially reasonable" standard is really about demonstrating good faith effort to maximize recovery - courts look at your process more than the actual sale price achieved. For manufacturing equipment like yours, I'd strongly recommend getting multiple marketing channels going simultaneously: contact equipment dealers who specialize in your industry, reach out to manufacturers who might need parts or refurbished machinery, and consider online industrial equipment platforms. Document every contact attempt, response, and bid received. The key is showing you cast a wide net to find the right buyers, not just the first buyers. Also, timing matters - avoid holiday periods or industry-specific slow seasons if possible, as this can affect what's considered reasonable marketing duration. One last tip: if the equipment has any proprietary software or requires special training to operate, mention this in your marketing materials as it might attract premium bids from buyers who already use similar systems.

Diego, I've been following this thread and there's one aspect that hasn't been fully addressed - the interaction between your Article 9 disposition and any potential bankruptcy filing by the debtor. Given that they've been unresponsive for 45 days, there's always a risk they could file Chapter 11 or Chapter 7 right before your sale to stop the process. Make sure you're monitoring PACER or have some way to get notified if they file bankruptcy, because that would immediately trigger the automatic stay and halt your disposition. You'd then need to either get relief from stay or coordinate with the bankruptcy trustee. Also, consider whether the 45-day silence might indicate they've already ceased operations - if so, you might want to physically inspect the collateral to ensure it's still there and hasn't been moved or sold to other parties. I've seen cases where unresponsive debtors were actually liquidating assets informally while the secured party was going through proper Article 9 procedures. Document the current location and condition of your collateral before you get too far into the disposition process.

This thread has been absolutely fascinating to read through! As someone completely new to equipment financing, I had no idea that selling assets with UCC liens was not only possible but actually routine in commercial transactions. The mortgage analogy really made it click for me - of course you can sell equipment with liens just like you can sell a house with a mortgage, the lien just gets satisfied at closing from the sale proceeds. What's honestly shocking is seeing how many attorneys apparently lack basic UCC Article 9 knowledge - it really drives home the importance of specifically vetting legal counsel's secured transaction experience before engaging them for equipment deals. The step-by-step breakdown everyone provided about payoff letters, closing coordination, fund distribution, and UCC-3 termination procedures is exactly the kind of practical knowledge you can't find in textbooks but desperately need in real-world transactions. I'm definitely saving this entire thread as my reference guide for future equipment deals. Thanks to everyone for sharing such detailed real-world experiences and congratulations to those who successfully navigated their transactions!

This thread has been an absolute masterclass in UCC transactions! As someone completely new to equipment financing, I had always assumed that active UCC liens would completely prevent any sale until paid off in full - the mortgage analogy everyone used really made it click that this is just standard secured transaction practice. What's genuinely alarming is discovering how many attorneys seem to lack basic UCC Article 9 knowledge - it really emphasizes the critical importance of specifically vetting legal counsel's secured transaction experience before engaging them for equipment deals. The detailed breakdown everyone provided about payoff letters with per diem calculations, closing coordination procedures, fund distribution instructions, and UCC-3 termination timing requirements is exactly the kind of practical, real-world knowledge that's impossible to find in textbooks but absolutely essential for successful transactions. I'm definitely saving this entire discussion as my go-to reference guide for future equipment deals. Thanks to everyone for sharing such comprehensive real-world experiences and congratulations to those who successfully navigated their closings despite initial obstacles!