The UCC Financing Statement filing process can seem overwhelming if you are unsure of the proper procedure. It’s also important to know that filing rules can vary from state to state. Luckily, we are here to help you through it, and with our DIY system, it’ll be quick and easy. Our experts will be there to help you along the way if you have any problems or questions.
Let’s start by going over some of the common mistakes you can make.
DON’T:
- Use a Nickname or Abbreviations
- Avoid using common nicknames and abbreviations when filing a UCC against an individual or entity, it can create a hidden lien
- Incorrectly file on the company’s name
- Including assumed names
- Fail to file an in-lieu-of filing when the situation requires
Now that you know what you should try to avoid, here are some tips to help you include the things you need to do.
DO:
- Always use the Debtor’s exact Legal Name and Address
- The debtor’s name should match what is listed on their legal license along with the correct address, or on the most recently filed corporate documents
- Include the Lender’s Name and Address
- Provide a description of the collateral
By following these procedures and making sure you have all your information, you will be ready to start Filing and Searching in our DIY Database Direct® system.
For further instructions, we have created a step-by-step guide you can follow to make sure you don’t miss anything.
Download our UCC Filings Guide: