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If you have not filed a UCC-1, then you are considered unsecured, and as such, you are placed in the ?back of the line,? behind the secured creditors. Secured creditors are taken care of first in the division of assets.

UCC COST LIST DescriptionStaffOnlineUCC Misc Filing$20.00N/AUCC-3 Regular Amendment$20.00$10.00UCC-3 Secured Party Change$20.00$10.00UCC-3 Filing Termination$20.00$5.0023 more rows

A Uniform Commercial Code filing, also known as a UCC filing, is a document that lenders use to establish their legal right to assets that a borrower uses to secure a loan. This notice allows the lender to seize the borrower's collateral in the case of default.

A UCC filing gives other lenders notice that the lender has a first-position lien on collateral if the borrower defaults on their loan. A subsequent lender can take a second-position lien against the same collateral, but will only be able to seize that collateral if the first-position lien has already been satisfied.

Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor's assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the "creditor" of the creditor's interest in the property.

A filed financing statement is effective for five years from the date of filing. It will lapse upon the expiration of the five-year period unless a continuation statement is filed prior to the lapse date.