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UCC. A UCC3 is a change statement to a UCC1. Its an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. Its a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.
The court noted that the California Commercial Code provides that a person may file a UCC-1 only if the debtor authorizes the filing by (1) authenticating a security agreement; (2) becoming bound as debtor by a security agreement; or (3) acquiring collateral in which a security interest is attached.
Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)
The main way to remove a UCC filing is to pay off your business loan. The statement may remain in your states searchable database for up to one year after payoff but should reflect that you repaid the loan.
At least 1 debtor and one secured party is required. No signatures are required if included they will be redacted. No SSN or TIN numbers required if included they will be redacted. Debtor and Secured Party may not appear to be the same.
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To do so you will generally need to make a trip in person down to your secretary of states office. Once there, you will be able to swear under oath that youve satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
Visit your secretary of states office. To do so you will generally need to make a trip in person down to your secretary of states office. Once there, you will be able to swear under oath that youve satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
Additionally, a UCC filing does not natively impact your credit score. But a UCC filing does appear on your credit report, and it could affect whether you will qualify for other financing forms later down the road. For example, say that you receive funding from one lender who filed a UCC lien on some of your assets.
A UCC-1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC-1 filing has lapsed.
Pay off your loan: This is the surest way to have the UCC-1 filing removed. Depending on the state, the financing statement can remain in your states searchable index for one year after the loan is repaid. In that case, the statement would reflect that the loan is repaid.

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