UCC1 - Financing Statement - Kentucky - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
Louisville Kentucky UCC1 Financing Statement
State:
Kentucky
City:
Louisville
Control #:
KY-UCC1
Format:
PDF
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How to fill out Louisville Kentucky UCC1 Financing Statement?
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FAQ
You should file a UCC-1 Financing Statement with the secretary of state's office in the state where the debtor is incorporated or located. If the collateral is real property, then you should also file a UCC-1 with the county recorder's office in the county where the debtor's real property is located.
When is a UCC-1 filed? UCC-1 filings typically happen when a loan is first originated. If the borrower has loans from more than one lender, the first lender to file the UCC-1 is first in line for the borrower's assets. This motivates lenders to file a UCC-1 as soon as a loan is made.
In theory, anyone can file a UCC-1 against anyone else. To protect both secured creditors and debtors, Article 9 has strict requirements that must be met for a filed UCC-1 to be effective. One of those requirements is that the financing statement must be authorized by the debtor.
A rule of thumb when filing a UCC record is to file at the central filing office of the state where the debtor is located.
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.
Additionally, a UCC filing does not natively impact your credit score. But a UCC filing does appear on your credit report, and it could affect whether you will qualify for other financing forms later down the road. For example, say that you receive funding from one lender who filed a UCC lien on some of your assets.
How Does a UCC Filing Affect My Credit? A UCC filing won't impact your business credit scores directly because it doesn't indicate anything about your ability to repay your debts. However, it can affect your ability to get credit again in the future.
A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
What is the fee to file a UCC-1 financing statement? There is a $10.00 filing fee for UCC-1 financing statements consisting of no more than two pages. The filing fee for UCC-1 financing statements over two pages is $20.00.
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Office of the Circuit Court Clerk Louis D. Brandeis Hall of Justice 600 W. Jefferson St., Suite 2008. Louisville, KY 40202 a.m.Use this form to search our complete list of Oil and Gas Wells in Kansas.