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- DO post tips & tricks to help folks.
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Evelyn Kim
Whatever you do, don't delay on the corrective filing. Strict foreclosure has tight deadlines and if the debtor challenges your UCC filing validity, it could mess up your entire timeline. Also make sure your foreclosure notices go to both the old and new entity names to cover all bases.
Diego Fisher
•Should the notices go to the same address or do you need to track down addresses for both entity names?
Evelyn Kim
•Same address should be fine if it's really just a name change. But verify they're still operating from the same location.
Update us on how this turns out! I'm dealing with a similar situation on some restaurant equipment and want to know if the corrective amendment approach works for strict foreclosure cases.
Will do. Filing the UCC-3 amendment tomorrow morning and then we'll see if we need to restart the foreclosure notice process.
Good luck. Restaurant equipment cases can be tough because the businesses change so frequently.
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Don't forget about purchase money security interest rules if you're providing financing for the consigned goods. PMSI has super-priority over other inventory liens, but only if you perfect and notify properly.
Romeo Quest
•We're not financing the goods, just consigning them. Does PMSI still apply?
Not directly, but if you're allowing payment terms after delivery, that could create financing elements. Worth discussing with your attorney.
Had issues with state-specific variations in Article 9 implementation. Most states follow the uniform version, but some have modifications that affect consignment filings. Make sure you're checking the actual statutes in each filing state, not just relying on general Article 9 knowledge.
Unfortunately yes. The differences are usually minor but can be crucial for perfection.
Sienna Gomez
•Most Secretary of State websites have UCC guides that highlight state-specific requirements. Start there for your research.
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warehouse inventory financing is tricky because the collateral is constantly changing hands. Make sure your UCC-1 covers future inventory acquisitions too, not just what's currently in the warehouse when you file.
Good catch. Should the collateral description include "after-acquired inventory" language specifically?
Yes, definitely include after-acquired property language since warehouse inventory turns over frequently. Standard collateral description templates usually cover this.
Maya Lewis
You'll get through this. Warehouse lien rejections for name issues are super common but easily fixable once you use the exact state database formatting. The key is acting fast since your inventory security depends on proper UCC perfection.
Lucy Taylor
•Better strict requirements than ambiguous security interests. Your lender will appreciate the properly perfected warehouse lien once it's filed correctly.
Exactly. And with automated verification tools like Certana.ai now available, there's really no excuse for name format errors on UCC filings anymore.
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Make sure you get a UCC-3 termination filed when you pay off the loan. Leftover filings can create confusion for future lenders even though they don't hurt your score.
It should be automatic but follow up. Some lenders are slow to file terminations.
Joy Olmedo
•Put it in writing when you make your final payment. Creates a paper trail if they forget.
Focus on making your loan payments on time rather than worrying about the UCC filing. Payment history affects credit scores way more than public filings do.
You're right, I should channel this energy into making sure we never miss a payment.
Exactly. The UCC-1 is just paperwork, your payment performance is what really matters.
Jamal Thompson
Bottom line - use the exact name from your Washington articles of incorporation. No variations, no shortcuts. The automated system will reject anything that doesn't match perfectly.
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Jamal Thompson
•Perfect. That should get you through without any issues. Good luck with your closing!
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Mei Chen
•Agreed - when in doubt, go with the official state record. Can't argue with that.
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CosmicCadet
Update us on how it goes! Always curious to hear about successful Washington UCC-1 filings since they can be tricky.
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CosmicCadet
•Smart timing. Thursday submission gives you a buffer day if needed.
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Liam O'Connor
•Good luck! Hope everything processes smoothly for your closing.
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