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Yeah I'm thinking about trying that. At this point I need to figure out what went wrong quickly so I can refile and get this perfected before closing.
Document consistency is usually the culprit with these 'form of security agreement' rejections. The automated tools are pretty good at catching what humans miss.
Grace Durand
UPDATE: Called the SOS office this morning and they said the issue was that my collateral description was too broad. They wanted more specific language tying it to the actual security agreement terms. Going to revise and refile today.
Good catch. The collateral description matching the security agreement language exactly is crucial.
Glad you got it sorted out. Hope the refiling goes smoothly!
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Document everything about these rejections. If you end up with a perfection gap due to SOS processing issues, you'll want a complete record showing your good faith efforts to maintain continuous perfection. This documentation could be crucial if there are ever disputes about the security interest priority.
Also keep copies of all the different versions you tried to file. Shows you were actively working to correct any issues.
Your legal team will thank you for this documentation if issues arise later. Due diligence in filing efforts matters.
Update us on what works! I have two UCC-103 continuations coming up next month and want to avoid this same nightmare. Really hoping the SOS systems get more user-friendly soon, but I'm not holding my breath.
Kyle Wallace
•The learning curve on UCC-103 filings is steep. Every state seems to have different quirks and requirements.
Cedric Chung
•Will definitely update once we get this resolved. Thanks everyone for the suggestions - trying the document verification approach first.
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Sergio Neal
Update us when you figure out what was causing the rejection! I'm dealing with a potential Oregon UCC issue myself and want to know what to watch out for.
Will definitely post an update once I get it resolved. Hopefully it's something simple like the address formatting that others mentioned.
Yes please update! These kinds of real-world examples are super helpful for learning what to avoid.
Juan Moreno
Consider reaching out to the original lender's legal department if you continue having issues. They should be familiar with Oregon's requirements and might be able to provide a corrected termination form that will process successfully.
Amy Fleming
•Banks definitely should know how to do this properly since they file UCC documents constantly. If they gave you a defective termination form that's really their problem to fix.
Alice Pierce
•Exactly. The secured party is responsible for providing accurate termination documents. Don't let them put this back on you to figure out.
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For what it's worth the rejection notices from Alabama are usually pretty specific about what doesn't match. Look closely at the exact wording they use in the rejection vs what you filed. Sometimes it's obvious, sometimes you have to squint at punctuation marks.
That's typical for AL unfortunately. Some states give you the exact correction needed, Alabama just tells you it's wrong.
Try calling them with your rejection notice number. Sometimes they can look up what specifically didn't match.
Zara Ahmed
Update: Finally got this resolved! Turns out there was an invisible character in the business name that was copying over from our loan system. Used a document verification tool that flagged the hidden character and cleaned up the formatting. Third time was the charm - filing accepted this morning. Thanks everyone for the suggestions!
Great outcome! Which verification service did you end up using?
Zara Ahmed
•Used Certana.ai - just uploaded the PDFs and it spotted the formatting issue immediately. Wish I'd tried it after the first rejection instead of wasting time with manual comparisons.
Chloe Robinson
ugh been there with the debtor name issues. its like these companies dont understand that ONE WRONG LETTER can void your entire security interest. super frustrating when you're paying them to get it right
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AstroAlpha
•Exactly! And then they act like it's no big deal when you point out the error.
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Diego Chavez
•The worst part is when they try to blame you for providing unclear instructions when the debtor name is right there on the loan documents.
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NeonNebula
I actually had a similar situation last year with a botched continuation. Ended up having to file a corrective UCC-3 and pay extra fees. Since then I've been using multiple verification steps including that Certana tool someone mentioned earlier. Haven't had an issue since implementing better quality control.
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Anastasia Kozlov
•Wait, you can file corrective amendments? I thought once a continuation lapsed you were out of luck.
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NeonNebula
•Depends on the state and timing. Some allow corrective filings within certain timeframes. You need to check your specific state's rules.
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