also known as a UCC-1 filing. This is just a legal form that allows the lender to announce a lien on a secured loan. That means the lender is free to seize, foreclose upon or even sell the underlying ...

UCC-1 forms are used mainly to simplify collection processes. They must be filed with agencies in the state where the borrower’s business is incorporated. There are two types of UCC-1 statements ...

A Uniform Commercial Code filing—or UCC filing—is a form of notice that lenders use ... to recoup the outstanding balance. A UCC-1 financing statement is a type of UCC filing that a lender ...