Here are a few common mistakes to watch for when filing UCC1 Financing Statements:

• Avoid “dba” notation for fictitious or assumed business names as debtor
• Failure to file under the debtor’s true and correct legal name
• Incorrect type of organization listed for business debtors
• Listing of a faulty or incomplete address for the Debtor or Secured Party
• Filing a document in the wrong jurisdiction
• Missing attachment pages

Rejected filings cost a Secured Party time and money, but the above listed errors can be much more dangerous because they would rarely cause a filing officer to reject a document. These mistakes often make it into the public record, only to be discovered during the course litigation.

To guard against damaging filing mistakes, consider working with a service provider that performs a thorough quality review of your documents prior to submission. A well-trained eye can catch many of these before it’s too late!

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