The Easiest Way to Get Your UCC Lien Release
A UCC lien, also known as a UCC-1 or a UCC filing, is a financial claim lenders can file against your business assets with your secretary of state. As a business owner, it's important to learn all the ins of a to know how it can affect your operations. This can apply when you take a secured loan and lenders file a lien to protect the asset you committed to secure financing. The assets can range from a vehicle, property, piece of equipment, or even a blanket lien in some cases.
Keep in mind that UCC liens are public records. As a result, UCC filing can be an inconvenience when applying for business financing. That's why it's important to learn how to remove UCC Lien.
DoNotPay offers a reliable solution whenever you want to remove it. If you want to find out if there is a lien on your house or you want to remove a lien on your property, DoNotPay has just the right solution for you. DoNotPay can even find out if there is a lien against you. Keep reading as we get into more details about the UCC lien and how DoNotPay can help.
How Does a UCC Lien Work?
When you receive a loan secured by collateral, the lender can file a UCC against the assets you pledge. The UCC lien works by preventing you from selling this collateral or obtaining extra finance using the same assets as security. You should be able to file a to terminate the lien after you pay off your loan.
How to Remove a UCC Lien Yourself
Typically, a lender should remove a UCC lien once you pay off their debt. Unfortunately, you might find that the UCC is still in place even after fully satisfying a debt. If you check your company's credit reports and find out you still have an outstanding UCC-1, you can take the following steps to remove the UCC lien.
- Tell the lender to terminate the lien: Once you pay off the entire loan, submit a request to the lender, asking them to file a UCC-3 form to your secretary of state. This should lead to the termination of the UCC lien on your business's assets.
- Visit your secretary of state office: You can also request to have the UCC removed by your secretary of state. Go to the office of the secretary of state and swear under an oath that you have satisfied the loan and you are requesting a UCC filing removal.
You can contact UCC in each state here:
|Directory of Secretary of State Office||Find Your State|
|UCC-3 Form||Financing Statement Amendment Form|
|Check or Remove UCC Liens||UCC FIlings | NASS|
Even after asking a lender to terminate a lien after paying off the entire loan, this will not automatically lead to the removal of the UCC lien from your company credit reports. Yet, a UCC lien has significant effects on your business.
For instance, a UCC lien prevents you from making additional borrowing, especially for small businesses with limited assets. Lenders will not offer more funding when there is a blanket lien. A UCC-1 hugely impacts your credit report since it shows all the UCC liens under your business for the past five years.
Let DoNotPay Help You Remove a Lien
Luckily, has become a seamless process, thanks to DoNotPay. If you are unsure about the lien situation, you can rely on DoNotPay to get all the relevant details.
DoNotPay will also send a letter to the specific creditor requesting a renegotiation of the loan terms based on your needs. Moreover, DoNotPay can fill out a Release of Lien form for your creditor to sign. This will help get the lien off your record once you renegotiate your loan.
Want to know how DoNotPay can help you remove a lien? All you need to do is to provide us with all the details about your lien situation, and we will do all the hard work on your behalf.
Here is a simple three-step procedure of how DoNotPay works:
- Search for remove my lien on DoNotPay.
- Start our Remove My Lien product.
- Answer some questions about your specific lien and let us help you craft a letter to your creditor to resolve the issue.
That's it! DoNotPay will reach out to the creditor who placed a lien against your assets. You should expect to get feedback from the creditor within two weeks.
DoNotPay Works on All Entities, Companies, and Groups
No matter the company or individual that has placed a lien on your property, you can rely on DoNotPay to remove it on your behalf. We will find out all the details about your lien and the best way to resolve your issue. For instance, DoNotPay can:
- Get more details about a lien release on your car or how to sell a car with a lien
- Provide all the details about a tax lien on your credit report
- Remove a state tax lien from public records
- Help you find out a lien release form
Other Services That DoNotPay Offers
DoNotPay is a hub of solutions for a myriad of things. Besides helping you remove a UCC lien, here are other issues you can solve using DoNotPay.
- Help with bills
- Release of liability
- Reducing property taxes
- Sue anyone in small claims court
- Close bank accounts
- Increase credit card limit
Feel free to look through the DoNotPay site to find out more details about the solutions we can offer.