Are UCC searches and results a part of your process? Here are 3 tips to reading the UCC search reports you receive.
- Review Search Parameters – Review that the proper name was searched free of spelling errors, the search was performed in the correct filing office and that all requested lien types were included in the search effort.
- Note the Index Date – A UCC search should list an index date to inform you of how current the lien information is.
- Examine the Results – You will need to examine the search results carefully to determine if an existing claim would jeopardize your ability to collect on debts, taking into account the filing date, collateral and status of any items listed on your search report.
Have any tips of your own you’d like to share? We’d love to hear from you!