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What’s a UCC and Why is it Filed?

The Uniform Commercial Code is a set of suggested laws, which are divided into nine articles all relating to commercial law.  Article 9, now Revised Article 9 (RA9), refers to the section of the code in which a security interest (aka UCC filing) may be created to protect a creditor’s rights if a debtor defaults on their obligation. The Code is a notification system by creditors showing an interest in a debtor’s property (collateral).  The financing statement or UCC is filed informing the public of this interest.  Understanding the Uniform Commercial Code takes patience and experience.  Incserv has both.

Searching for UCCs

Once a UCC has been filed, it’s extremely important to follow up with a search to ensure the filing was properly indexed, thus aiding in “perfecting” the security interest. Performing due diligence in support of commercial transactions such as mergers, acquisitions or a new loan are just a few of the reasons a UCC search may be required. This is also where it can get tricky as UCC search logic is not nationally standardized like the filing forms.

Tax Lien, Pending Suit, Judgment & Bankruptcy Searches

In addition to searching for UCCs, you may find you need to dig a little deeper and search for state and/or federal tax liens, pending suits, judgments or bankruptcy filings. To find what you’re looking for and to ensure your search is thorough requires the experience of knowing what’s filed where.

Let Us Do the Work

Navigating the massive network of UCC & lien filing offices scattered across the United States can be complicated.  We have access to each and every one of these offices thanks in part to a trusted network of experienced correspondents.  We know the ins and outs and can handle all of your UCC & lien searching and filing needs. Contact us today to discuss custom tailored reports and billing options.  Searching and filing has never been easier.

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