The start of a new year is always a good time to take a look at your processes & see where you can make changes to increase efficiency & eliminate errors.
When it comes to UCCs, error-free results are crucial!
A simple typo on the final filing can have drastic outcomes for a necessary lien position. Courts have even ruled that an extra space is enough to make a UCC seriously misleading which threatens the perfection of the filing.
(United States SEC v. ISC, Inc., 2017 U.S. Dist. LEXIS 139258 (W.D. Wis. Aug. 30, 2017).)
Missing a continuation window to extend the life of your UCC is something you can’t afford. If the filing is not continued in the proper time frame, the UCC will lapse and a new UCC would need to be filed. Database Direct can help you track these important dates so nothing gets missed.
Searching for your completed UCC filing is important to complete the loan process, making sure your UCC is properly on record in the state index. Always run a search-to-reflect once the closing is done.
Using Database Direct to manage your UCCs will help eliminate the potential for errors.
You can run searches in Database Direct, manage your continuation report, and submit UCCs which will be reviewed by our knowledgeable staff to ensure your filing is perfected.
Database Direct also has enhanced search logic which will uncover filings you didn’t even realize you wouldn’t be able to find in standard UCC search logic.
The risk is too great, it’s always worth working with a UCC compliance professional. Let us help you Centralize your UCC processes this year!