The Paper Trail to Hidden Millions: How UCC Filings Expose What Debtors Don't Want You to Find
Download MP3What You'll Learn in This Episode:
- Understanding UCC Filings: Learn what the Universal Commercial Code (UCC) is - a federal guideline for recording financing on non-real estate assets, filed at the state level (typically Secretary of State or county offices)
- How to Read UCC Documents: Decode the standard format that includes creditor information, debtor details, contact information, and most importantly - the collateral description
- Types of Assets You'll Discover: Find everything from furniture and electronics to specific inventory with serial numbers, construction equipment, manufacturing tools, computer systems, and high-end restaurant equipment
- Individual vs. Corporate Filings: Understand that UCCs aren't just for businesses - individuals renting furnished homes or leasing equipment may also have UCC filings against them
- The Reverse Search Strategy: Discover when your debtor is listed as a secured party (creditor) rather than debtor, revealing additional assets you can potentially subrogate or take over
- Paper vs. Electronic Records: Why examining actual paper documents can reveal handwritten notes, phone numbers, fax numbers, and contact names not found in electronic databases
- Sequential Filing Number Technique: Search adjacent filing numbers to find multiple UCCs filed simultaneously by the same parties
- Leveraging Existing Creditor Information: How to contact secured parties to obtain financial statements, balance sheets, and credit applications your debtor already provided
- Legal Collection Strategies: Use subpoenas to compel secured parties to provide debtor financial information when voluntary disclosure fails
- Integration with Other Asset Searches: Position UCC searches as one essential tool alongside vehicle searches, real estate records, bank accounts, crypto assets, and intellectual property investigations
Key Takeaway:
UCC filings are frequently overlooked but can provide direct asset listings and valuable leads to additional hidden assets through addresses, contact information, and creditor relationships contained within the documents.
UCC filings are frequently overlooked but can provide direct asset listings and valuable leads to additional hidden assets through addresses, contact information, and creditor relationships contained within the documents.
