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Amina Diallo
Don't forget to check the filing dates against your loan timeline. Sometimes what looks like a current perfected lien is actually a lapsed continuation that never got renewed. UCC-1 filings expire after 5 years unless properly continued.
Amina Diallo
•Exactly. Look for UCC-3 continuation statements filed before the 5-year mark. If the original lender didn't file continuations, those liens might have lapsed even though they still show up in searches.
This is why I always set calendar reminders for continuation deadlines. Too easy to let a perfected lien lapse by missing the deadline.
Final thought - if this is for a loan restructuring, make sure you understand the priority of all these filings. Even if they're all valid, the first-to-file rule means older UCC-1s have priority over newer ones. That could affect your restructuring negotiations.
That's a crucial point I hadn't fully considered. We need to map out not just what liens exist but their relative priority positions.
Right. And if you're adding new collateral or modifying existing security interests, you'll want to make sure your new filings don't inadvertently subordinate your position to existing liens.
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Mia Alvarez
Pennsylvania's UCC search system is actually pretty good if you want to see examples of how other people describe similar collateral. Might give you ideas for your equipment description.
That's a great suggestion! I didn't know you could search existing filings.
Mia Alvarez
•Yep just go to the PA Dept of State website and look for UCC search. It's public record so you can see all filings.
Just make sure you understand what happens after filing too. UCC-1 filings are only good for 5 years, then you need to file a continuation statement if the loan is still outstanding. But that's a problem for future you!
Yeah and you can only file the continuation in the last 6 months before expiration. Missing that deadline means the security interest lapses.
Another thing Certana helps with actually - it can track your filing dates and send reminders for continuation deadlines. Pretty handy for staying on top of that stuff.
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Multi-state UCC filings are definitely challenging but they're manageable once you understand each state's quirks. The key is building a database of what works and what doesn't for each jurisdiction. Takes time but saves headaches down the road.
True, it's easier when you're doing high volume. For occasional filers, using verification tools or working with experienced counsel might be worth the investment.
I'm in the occasional filer category too and started using Certana.ai for exactly this reason. Don't have to build up years of experience - just upload the documents and get instant feedback on potential issues.
Just went through something similar last quarter. Ended up having to amend several filings because of state-specific requirements that weren't obvious upfront. The amendment process added weeks to the timeline which was really stressful with loan closing deadlines approaching.
Nora Brooks
•That's exactly what I'm worried about. Can't afford delays with these continuation deadlines coming up. Did you find any patterns in what needed to be amended?
Mostly collateral description issues and a few debtor name formatting problems. Nothing major but enough to trigger rejections. Wish I had caught them before filing.
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Ava Thompson
Update us on how the refile goes! Always curious to see if the exact charter match works in these situations.
Will do. Planning to refile tomorrow morning with the exact charter spelling including comma.
CyberSiren
•Good luck! Timeline pressure makes these rejections so much more stressful.
Just to add another data point - I had a PA UCC-3 amendment rejected last month for the same type of punctuation issue. Their system definitely got stricter about exact matches. But once you get the name right, everything else usually processes smoothly.
Zainab Yusuf
•PA is actually pretty fast once they accept the filing. Usually same day processing.
Exactly, it's just that initial hurdle of getting the debtor name formatting perfect.
Donna Cline
Quick tip - if you're filing electronically, don't wait until the last minute to create your account with the Secretary of State's system. Some states require verification steps that can take a day or two.
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Harper Collins
•Smart move. I've seen people get stuck waiting for account approvals when they needed to file urgently. Better to be prepared.
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Kelsey Hawkins
•Same here. Set up the account early and maybe do a practice search or two to get familiar with the interface before you need to file for real.
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Dylan Fisher
Actually, going back to that document verification tool someone mentioned earlier - I just tried Certana.ai myself and it's pretty slick. Uploaded my articles of incorporation and a draft UCC-1 and it immediately flagged that our legal name had 'LLC' in the articles but 'L.L.C.' in the UCC form. Would have definitely caused a rejection.
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Dylan Fisher
•Right? Those little punctuation differences seem minor but they'll kill your filing every time. Worth the peace of mind to catch them upfront.
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Edwards Hugo
•This thread has convinced me to use some kind of verification tool too. I've been lucky so far but why risk it when there are tools available to help?
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