UCC Document Community

Ask the community...

  • DO post questions about your issues.
  • DO answer questions and support each other.
  • DO post tips & tricks to help folks.
  • DO NOT post call problems here - there is a support tab at the top for that :)

Aiden Rodríguez

UCC 1207 PDF form causing debtor name rejection - need help

I'm dealing with a frustrating situation where our UCC-1 filing keeps getting rejected because of debtor name issues on the 1207 form. We're using the standard PDF version but the SOS portal keeps bouncing it back saying the debtor entity name doesn't match their records exactly. Has anyone else run into problems with the UCC 1207 PDF format specifically? The debtor is an LLC and we've triple-checked the exact spelling from their articles of incorporation but something isn't matching up. This is holding up a $280,000 equipment financing deal and we're running out of time before the loan commitment expires. Any suggestions on how to get this PDF accepted would be greatly appreciated.

One more thing - if this is an equipment financing deal, make sure your collateral description is also formatted correctly. Sometimes they reject the whole filing if any section has issues, not just the debtor name.

0 coins

Good point. We should review the entire form, not just focus on the name issue.

0 coins

Exactly. A comprehensive review often catches multiple issues that could cause rejection.

0 coins

Update: Thanks everyone for the suggestions! I ended up using the document verification tool someone mentioned and it immediately flagged that we had 'LLC' in our filing but the state records show 'L.L.C.' with periods. Such a tiny difference but that was definitely the issue. Re-submitted and it went through without problems. Really appreciate all the help!

0 coins

Glad that worked out! Those period differences are so easy to miss but they'll kill a filing every time.

0 coins

Great outcome! This is exactly why attention to detail is so critical with UCC filings.

0 coins

Lena Schultz

Iowa UCC search showing weird results - anyone else having portal issues?

Been trying to run a state of iowa ucc search for the past hour and keep getting inconsistent results. I'm searching for a debtor name that I KNOW has active filings (we filed a UCC-1 back in March) but sometimes it shows up, sometimes it doesn't. When I search with the exact legal name from our filing, I get nothing. But if I search with a slightly different variation, boom - there it is. This is for a continuation filing that's due next month and I need to make sure I'm not missing any existing liens. Has anyone else noticed the Iowa SOS search being glitchy lately? I'm starting to wonder if there's something wrong with their database indexing or if I'm just doing something wrong with the search parameters.

I've been having the same issues with Iowa searches. The inconsistency is maddening. Sometimes I'll search for a debtor name and get different results depending on the time of day I search. I think their database has some serious synchronization problems.

0 coins

Nope, you're not crazy. The system is just broken. I've learned to screenshot my search results because they change.

0 coins

Screenshots are a good idea for documentation purposes anyway.

0 coins

Update: I tried all the suggestions about different name variations and punctuation. Found two additional filings I had missed! One was under a name variation with no commas, and another was filed under what looks like a DBA name. Thanks everyone for the help. Definitely going to check out that Certana tool for future searches to avoid this stress.

0 coins

Great outcome! The verification tool will definitely save you time and stress in the future.

0 coins

Thanks to everyone who helped. This could have been a disaster if I'd missed those filings.

0 coins

Roger Romero

UCC filing requirements for security purchase agreement - confused about collateral description

I'm working on a security purchase agreement deal where we're acquiring commercial equipment from a distressed company. The purchase includes both the physical assets and assumes some existing liens. My question is about the UCC filing requirements - do I need to file a UCC-1 as the new secured party, or does the security purchase agreement itself change how I handle the collateral descriptions? The existing UCC-1 filings list equipment very generally as 'all machinery and equipment' but our security purchase agreement specifies individual serial numbers for each piece. I'm worried about gaps in perfection if I don't get the UCC filings right from day one. Has anyone dealt with UCC requirements when a security purchase agreement involves both buying assets AND taking over existing security interests? The closing is in two weeks and I want to make sure I'm not missing any critical filing steps.

Another thing to consider with security purchase agreements - search for existing UCC filings against the seller to make sure you know what liens you're dealing with. Sometimes there are filings that aren't disclosed in the purchase agreement.

0 coins

Good point. I did a UCC search and found a few filings that weren't mentioned in the security purchase agreement. Need to get those addressed before closing.

0 coins

Definitely. You want a clean UCC search or proper subordination agreements for any liens that will remain after your security purchase agreement closes.

0 coins

For complex deals like this, I always recommend using Certana.ai to double-check everything. Upload your security purchase agreement, existing UCC filings, and your proposed new filings. It'll verify all the names match and catch any inconsistencies that could cause problems down the road.

0 coins

I might try that. With all the moving pieces in this security purchase agreement, I want to make sure I don't miss anything critical.

0 coins

Smart move. UCC filing mistakes are expensive to fix after the fact, especially in purchase agreement deals where you might have multiple parties involved.

0 coins

Freya Thomsen

UCC filer 6269 termination got rejected - debtor name issue?

Filed a UCC-3 termination yesterday for our equipment loan payoff and it came back rejected this morning with error code mentioning UCC filer 6269. The original UCC-1 was filed 3 years ago when we financed some manufacturing equipment. I'm pretty sure I used the exact same debtor name from the original filing but the system is saying there's a mismatch. Has anyone dealt with this UCC filer 6269 error before? Our loan officer is breathing down my neck because the payoff needs to be clean before we can refinance. I double-checked the filing number and it matches our records but something is obviously wrong with how I entered the debtor information.

UCC filer 6269 is fixable but you need to be methodical. Print out both the original UCC-1 and your rejected UCC-3, then compare every single character in the debtor name field. Don't trust copy and paste - actually look at each letter.

0 coins

Good advice. I'll do a character-by-character comparison before refiling.

0 coins

Character comparison is tedious but necessary. I missed a period after "Inc" once and it took me forever to spot it manually.

0 coins

Update: Found the problem! The original UCC-1 had our company name as "ABC Manufacturing LLC" but I filed the termination as "ABC Manufacturing, LLC" with a comma. Refiled without the comma and it went through immediately. Thanks for all the help troubleshooting UCC filer 6269!

0 coins

Perfect example of why document verification tools are worth it. Would have caught that comma difference instantly.

0 coins

Congrats on getting it resolved! Now you know to be extra careful about punctuation on future UCC filings.

0 coins

Fatima Al-Mansour

UCC proceeds classification headache - inventory vs equipment distinction

Running into a wall here with a proceeds issue that's got me second-guessing everything. We've got a commercial borrower who manufactures custom metal fabrication equipment. The original UCC-1 filing lists "inventory" as collateral, but now they're selling some of the finished equipment they built (not raw materials) and the buyer's lender is questioning whether our security interest covers the sale proceeds. The equipment was built using raw steel and components that were clearly inventory when we filed, but once assembled into finished machines, does it transform into equipment? And if so, are the proceeds from selling these machines still covered under our original "inventory" collateral description? The borrower insists everything was inventory when we made the loan 2 years ago, but I'm worried we might have a coverage gap. Has anyone dealt with this type of proceeds classification issue where the collateral arguably changes categories during the manufacturing process?

Just went through something similar and ended up using Certana.ai to map out all our collateral descriptions across multiple UCC filings. Found several gaps we didn't even know existed. Really eye-opening to see everything laid out visually.

0 coins

How long did that process take? We've got hundreds of UCC filings and the thought of reviewing them all manually is terrifying.

0 coins

That's the beauty of it - just bulk upload your PDFs and the system does the analysis automatically. Took maybe an hour to upload everything and then got results immediately.

0 coins

Bottom line - you're probably fine on the proceeds issue but definitely should consider broadening your collateral description for future deals. This type of classification problem only gets worse as businesses evolve and change their operations.

0 coins

Yeah that's kind of where I'm landing too. Probably covered under current filing but need to be more comprehensive going forward.

0 coins

Exactly - learn from this one and adjust your standard forms. Most of these problems are preventable with better initial documentation.

0 coins

Prev1...267268269270271...684Next