UCC filing?

[Stugotsv10]

Reading that a UCC filing CAN and in fact does help personal credit, is there any truth to this? I think if owed and if this is a thing it can be a great way to build credit 

[Anonymous]

While this post actually belongs in the Biz section, I wouldn't actually try to get a UCC filing on purpose in a mistaken attempt to "help" your business. Having one can hinder one's ability to secure lending.

[SouthJamaica]

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@Stugotsv10 wrote:

Reading that a UCC filing CAN and in fact does help personal credit, is there any truth to this? I think if owed and if this is a thing it can be a great way to build credit 

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No way.

A UCC filing is a lien.

[Remedios]

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@Anonymous wrote:

While this post actually belongs in the Biz section, I wouldn't actually try to get a UCC filing on purpose in a mistaken attempt to "help" your business. Having one can hinder one's ability to secure lending.

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I moved it here because it belongs here.

[GApeachy]

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@Stugotsv10 wrote:

Reading that a UCC filing CAN and in fact does help personal credit, is there any truth to this? 

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.......it's a mark on your biz credit to let other lenders know, in case of default (first come; first served) the first creditor to file a UCC will collect assets first.  This, as others' posted, can inhibit further funding or securing even a small loc.  So when considering a loan, usually a sizable loan, ask first.  Also, after a loan is paid off you need to always follow up with the creditor to have the UCC Filing terminated or you may have problems securing funding because it will look as if you and your business still owe on outdated UCC filing and could scare off potential lenders, they may see it as not having the ability to secure collateral on a first basis.

As far as personal credit score, it doesn't affect it.