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 :)
Join the conversation
Join the conversation
Amina Diallo
If you do a lot of these, it might be worth creating a template letter that you can customize for each situation. Saves time and ensures consistency in your language.
Templates are definitely the way to go. Just make sure you update the borrower name, collateral description, and dates each time. Easy to miss those details when you're rushing.
I learned that lesson the hard way when I sent a letter with the wrong borrower name. Had to send a corrected version and looked pretty unprofessional.
Bottom line - sending the letter is good customer service even if not strictly required. Takes minimal effort and keeps your borrower relationship positive after the loan payoff.
Agree completely. These borrowers might come back for future financing or refer other customers. Worth maintaining goodwill.
Emma Wilson
•Plus it shows you're thorough and professional in handling the loan closeout process. Attention to those details matters.
Join the conversation
Just curious - how did you find out about the name change? Did they notify you or did you discover it some other way?
Actually discovered it by accident during a routine asset search. They didn't notify us directly, which is another red flag.
That's troubling. Most states don't require debtors to notify secured parties of name changes, but good faith would suggest they should.
Nina Chan
Bottom line - get that UCC-3 amendment filed immediately. Commercial tort claims are already challenging enough to perfect without adding debtor name issues to the mix. Don't let a procedural issue jeopardize your security interest in a $340K claim.
Ruby Knight
•Agreed. And document everything about when you discovered the name change and when you filed the amendment. Could be important if priority issues arise later.
Yes, create a clear paper trail. Also consider whether you need to file in multiple states if the debtor has assets in other jurisdictions.
Join the conversation
Update us when you figure it out! I'm dealing with a similar situation in DC and curious what ends up working.
Luca Bianchi
•Will do! Going to try the copy/paste approach and that document checker tool first.
Dmitry Popov
•Same here - following this thread because I have a DC continuation coming up next month.
I use Certana.ai for all my UCC work now after having too many filing headaches. The document verification feature would definitely catch whatever mismatch is causing your rejection. Just upload your UCC-1 and UCC-3 and it highlights any inconsistencies instantly. Has saved me from several costly mistakes.
Luca Bianchi
•That's the second recommendation for Certana.ai in this thread - definitely going to check it out. Sounds like it could save a lot of time.
Miguel Ortiz
•Yeah I'm convinced these document checkers are essential for UCC work. Too easy to miss tiny differences manually.
Join the conversation
For what it's worth, I had a similar manufacturing equipment deal last year where 9-522 compliance was an issue. Turned out the debtor had changed from an LLC to a corporation during COVID but hadn't updated their operating agreements. The UCC-1 needed to reflect the current corporate status. Once I got the right entity type and name, filing went through fine.
Carmen Lopez
•I'll definitely look into whether there were any entity type changes. The timing matches up with when this debtor might have done some restructuring.
Emma Davis
•Good idea. Entity type changes are one of the most common causes of 9-522 compliance issues that people overlook.
One more thing to check - make sure you're looking at the right state's records. If the debtor entity was formed in Delaware but operates primarily in another state, you need the Delaware formation documents for 9-522 compliance, not the foreign qualification documents from the operating state.
This is such an important point. The state of organization controls for UCC debtor name requirements, not where they do business.
I learned this the hard way. Spent weeks trying to get the right name from California records when the entity was actually formed in Nevada.
Keisha Brown
Been doing UCC filings for 15 years and this exact scenario happens at least once a month. The security agent agreement language is irrelevant for UCC purposes - you need the official legal name from state records. Period. Don't let the lender talk you into filing with the wrong name just because that's what their paperwork says.
0 coins
Paolo Esposito
•15 years and still dealing with this problem tells you everything about how confusing the system is for everyone involved.
0 coins
Keisha Brown
•The system isn't confusing - people just don't take the time to understand the requirements. UCC Article 9 is pretty clear about debtor name rules.
0 coins
Amina Toure
Quick update for anyone following this thread - got the official records from Illinois SOS and you were all right. The legal name is 'Midwest Manufacturing Solutions LLC' (no comma). Filed the UCC-1 with that exact name and it was accepted immediately. Thanks for keeping me from making an expensive mistake by trusting the security agent agreement version!
0 coins
Liam Fitzgerald
•Perfect example of why you verify first, file second. Glad it worked out smoothly.
0 coins
Fatima Al-Mansour
•Nice work getting it sorted out quickly. These name issues can be such a headache if you don't catch them early.
0 coins