Private Party UCC Filing
Do you have to be a lender in order to file a UCC? Can it be done by a private party? For example, you give Uncle Joe $10,000 for a car, and to perfect the loan Jane Doe will want to put a lien on the collateral. Can Jane Doe file a UCC on the vehicle? Do you need a lien holder code?
Hello and thank you for your question!
Anyone can file a UCC claim for any reason, which is why it’s so important to keep up to date with your credit profile to know what’s been filed against your business at all times. This allows you to report any potential wrong filings in a timely manner. All someone needs to do to file a UCC claim is to fill out a UCC-1, which contains basic name and address information. You an find the form here.