Improve your personal and business credit through UCC filings

Credit enhancement through UCC filings:

Any document that is filed in your state is considered a public filing. That document is now public knowledge. Anyone can search these public records and find these documents / information.

Credit bureaus are connected to a public archival database that is regularly updated (based on status). They automatically receive all bankruptcy links and information after it is filed at the state or federal county level. Ever wonder how certain car dealers or property managers get things to show up on your credit report?

UCC stands for Uniform Commercial Code. UCC filings are a VERY powerful tool for improving business and personal credit. The surprising thing is that most people do not know this technique. Well. Most people don’t even know that you DO NOT need a lawyer to start a business. Lawyers can charge you up to 4 times more than if you join. There are many such examples, lawyers are paid for something that you can easily do yourself. You will be surprised how easy some of these things are. If you really think about it, most credit building methods are just that.

What you need to understand about UCC submissions is that they are not new. Public presentations, in one form or form, have always existed. The UCC filing basically shows the public that a guarantee is held between the parties for an agreement between the parties. So if I do come to a monetary agreement with you, I can file a UCC to provide details of the collateral that will guarantee that agreement. Of course, when the UCC is presented, it will be public knowledge and any good quality data collection agency or credit bureau will do so. pick up that. That’s when the “fun” begins.

For now, briefly, the UCC is a form of public presentation that will help you build your business and personal credit. As the collateral is released and the UCC finally ends, your credit will improve. This is valid for both personal and commercial credit. The effect is similar to obtaining a bank loan and paying it off.

Personally, I think this method will work for another 1-2 years at most. I think this “loophole” (for lack of a better word) will eventually be closed. Remember that currently anyone can submit a UCC and the requirements are not that difficult to meet. This is very similar to when people could improve their credit by becoming authorized users of someone else’s credit card. Even if they had bad credit, a simple phone call would get them to authorize users. I remember witnessing a person build a 5-year credit history by having his friend make him an authorized user on one of his cards. Of course, the “trick” became common practice and now that method is almost obsolete. You can still become an authorized user, BUT it doesn’t affect your credit like it used to. There is a good chance that UCC filings follow the same pattern (for credit repair), but for now I think any smart person should make full use of this method. Knowing the law and using the law is the “way” of the corporation. Both personal and business credit can be improved through UCC filings.