The Uniform Commercial Code (UCC) online service for customers filing financial statements and liens through the Secretary of State. Often the collateral is the property that was bought with the loan.Some examples of secured debt are a mortgage, a car loan, or a loan to buy furniture. Enter the expected interest rate for the municipal security. If it's variable, indicate the expected rate in the first year. Michigan Legal Help has tools to fill many kinds of forms but we do not cover all areas. You may have a blank form that you need to fill out on your own. Debtor grants Secured Party a continuing security interest in and to the Collateral. What does the term "secured transactions" really mean? You have 28 days or less to respond to a debt lawsuit in Michigan.