Information Request (Form UCC11) (Texas)

Why would someone file a UCC?

A UCC filing is a legal notice a lender files with the secretary of state when they have a security interest against one of your assets. It gives notice that the lender has an interest, or lien, against the asset being used by you to secure the financing.

Can a UCC be filed on an individual?

Lenders can file UCC liens against businesses or individuals. They work on a first-come-first-serve basis, so if there is a default, the first lender to file a UCC lien will have the first rights to that asset.

Who files a UCC1?

UCC-1 Financing Statements, commonly referred to as simply UCC-1 filings, are used by lenders to announce their rights to collateral or liens on secured loans. They’re usually filed by lenders with the debtor’s state’s secretary of state office when a loan is first originated.

How do I fill out a UCC 1?

How to complete a UCC1 (Step by Step)

1. Filer Information. Name and phone number of contact at filer. Email contact at filer.
2. Debtor Information. Organization or individual’s name. Mailing address.
3. Secured Party Information. Organization or individual’s name. Mailing address.
4. Collateral Information. Description of collateral.

How do I get rid of UCC-1?

Primarily there are two main ways to remove them. One way is by having the lender file a UCC-3 Financing Statement Amendment. Another way to remove a UCC filing is by swearing an oath of full payment at the secretary of state office.

What do you need to know about a UCC-1 filing?

UCC-1 filings are used by lenders to announce their rights to collateral or liens on secured loans and are usually filed by lenders with your state’s secretary of state office when a loan is first originated.

Can a lender file a UCC-1 lien against you?

A UCC filing, also known as a UCC lien or a UCC-1, is a financing statement which lenders can file against your business with your secretary of state. When you take out a secured loan, the lender may file a lien to protect the asset (s) you committed to secure financing.

Why did my ucc1 file number get rejected?

Failure to provide an accurate initial UCC1 file number. Failure to include an appropriate filing fee. If a filing is rejected, a letter will accompany the rejected form to act as a guide in making the necessary corrections. I filed a UCC3 termination. Why is my lien still “CURRENT”? A UCC3 filed as a termination is strictly an amendment.

Where can I file a UCC for collateral?

If the collateral is real property (such as a mortgage or equipment), you should also file a UCC-1 with the county recorder’s office in the county where the debtor’s real property is located. Secretaries of state have websites set up where you can file a UCC-1.