New Hampshire UCC 5- National Correction Statement is a document used to correct errors made on a previously filed UCC-1 Financing Statement. This document is filed with the State Secretary of State’s Office and is used to correct mistakes or errors in an original UCC-1 Financing Statement. There are two types of New Hampshire UCC 5- National Correction Statements: the National UCC 5- Amendment and the National UCC 5- Information Statement. The National UCC 5- Amendment is used to make changes to information on an existing UCC-1 Financing Statement, such as the debtor’s name or the secured party’s address. The National UCC 5- Information Statement is used to add additional information to an existing UCC-1 Financing Statement, such as the debtor’s address or the secured party’s name. Both types of correction statements must be filed with the Secretary of State’s office in order for them to be valid.
New Hampshire UCC 5- National Correction Statement
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How to fill out New Hampshire UCC 5- National Correction Statement?
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FAQ
The New Hampshire office of Uniform Commercial Code (UCC) serves the commercial lending and banking community by acting as a repository for filed documents which perfect security interests in certain personal property used as collateral for loans.
For UCC and EFS, a termination creates a public record that a loan was repaid, a lien was removed, or some other obligation was met. The records will remain in our system until two years after they lapse.
Generally, the debtor must first make a formal (or authenticated) demand to the secured party of record to terminate the UCC-1. This process involves sending a signed written request to the secured party of record demanding for said party to file a UCC-3 termination statement.
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.
Ask the lender to terminate the lien upon payoff. A good rule of thumb is to request that your lender file a UCC-3 form with your secretary of state as soon as possible after you pay off your loan. The UCC-3 will terminate the lien on your company's assets (or assets) and remove the UCC-1 filing.
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.
Forms and Search Requests Available OnlinePaper FormsFeesFile OnlineUCC 5: National Information Statement$48.00EFS 1 EFS 3$15.00File OnlineUCC 11-U Search: State Information Request Form.Routine $10.00 24 Hour $25.00 Same Day $35.00Form 9Contact UCC for filing fee6 more rows
It's possible to avoid a UCC filing by taking out an unsecured business loan rather than a secured one. For example, many online and alternative lenders offer unsecured loans, and you can get an SBA 7(a) loan of up to $25,000 without collateral.