The Allegheny Pennsylvania UCC1 Financing Statement Addendum is a crucial document used in commercial transactions involving the creation of a security interest in personal property. Filed as an attachment to the UCC1 Financing Statement, this addendum provides additional information and amendments to ensure the accuracy and completeness of the original document. The purpose of the Allegheny Pennsylvania UCC1 Financing Statement Addendum is to provide details that may not have been included in the primary financing statement or require an update due to changes in the collateral or debtor information. This addendum serves as a valuable tool for lenders, creditors, and other interested parties to access up-to-date information and protect their rights in secured transactions. Keywords: Allegheny Pennsylvania, UCC1 Financing Statement, Addendum, commercial transactions, security interest, personal property, filed, attachment, additional information, amendments, accuracy, completeness, original document, purpose, details, primary financing statement, update, collateral, debtor information, lenders, creditors, interested parties, up-to-date information, protect rights, secured transactions. Different Types of Allegheny Pennsylvania UCC1 Financing Statement Addendum: 1. UCC1 Financing Statement Addendum for Amended Collateral: Used when there are changes in the property that is serving as collateral for the transaction. This addendum ensures that any modifications or updates to the collateral are properly documented. 2. UCC1 Financing Statement Addendum for Amended Debtor Information: When there are changes in the debtor's information such as a name change, change in address, or other relevant details, this addendum is filed to reflect the updated information accurately. 3. UCC1 Financing Statement Addendum for Amended Secured Party Information: If there are changes in the secured party's information, including name, address, or other relevant details, this addendum is used to update and maintain accurate information related to the secured party. 4. UCC1 Financing Statement Addendum for Termination: Used when a security interest has been satisfied or released, this addendum records the termination of the UCC1 Financing Statement, providing notice to interested parties that the security interest is no longer in effect. Keywords: Allegheny Pennsylvania, UCC1 Financing Statement Addendum, amended collateral, changes, property, collateral, modifications, updated, documented, amended debtor information, debtor, name change, address change, relevant details, accurate information, amended secured party information, secured party, name change, address change, updated, accurate, UCC1 Financing Statement Addendum for termination, security interest, satisfied, released, termination, no longer in effect, notice, interested parties.
Allegheny Pennsylvania UCC1 Financing Statement Addendum
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How to fill out Allegheny Pennsylvania UCC1 Financing Statement Addendum?
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FAQ
How do I get rid of a UCC filing? You can remove a UCC filing when you've repaid your business loan in full. Once you repay the debt, the lender should remove the lien from your business assets. If not, you may request that the lender files a UCC-3 to terminate the lien.
To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
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.)
In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).
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 UCC1 filing has lapsed.
Visit your secretary of state's office. To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
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. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.
Over 90% of Pennsylvania's 2,562 municipalities have elected to administer and enforce the UCC locally, using their own employees or via certified third party agencies (private code enforcement agencies) that they have retained.
You may contact the Uniform Commercial Code section by calling (717) 787-1057 option 3, or by mail at: Uniform Commercial Code, PO Box 8721, Harrisburg, PA 17105.