The Indiana UCC Financing Statement Amendment Addendum is used to supplement existing financing statements in Indiana. It is used to amend the terms of an existing financing agreement, such as the debtor, secured party, collateral, etc. This addendum is required when the original financing statement is not sufficient to make changes to the agreement. There are two types of Indiana UCC Financing Statement Amendment Addendum: Amendment to Financing Statement and Continuation Statement / Amendment. The Amendment to Financing Statement is used to make changes to the existing financing statement, while the Continuation Statement / Amendment is used to extend the duration of the financing statement.
Indiana UCC Financing Statement Amendment Addendum
State:
Indiana
Control #:
IN-SKU-1085
Format:
PDF
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UCC Financing Statement Amendment Addendum
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FAQ
You typically record a UCC in the office of the Secretary of State in the state where the debtor is located. This is important because it establishes the priority of the secured party’s interest in the property. If you need assistance with the Indiana UCC Financing Statement Amendment Addendum, our platform provides tools to simplify this process.
A UCC filing won't impact your business credit scores directly because it doesn't indicate anything about your ability to repay your debts. However, it can affect your ability to get credit again in the future.
Essentially, a UCC-1 can be described as a financing statement. In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property.
A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.
First, the debtor must send an authenticated demand to the secured party. The demand should be sent to the name/address of the secured party as indicated on the financing statement. The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file.
In these situations, you can file a UCC-3 termination yourself with your secretary of state. You must swear under oath that you've satisfied the debt in full and complete the UCC termination form.
An assignment adds a secured party. An amendment to add a secured party adds a secured party.
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.)