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There is a question some times if they hurt or help.. The general thinking is they help build credit but I'm not sure either way.. Basically it shows if you have a larger secured type debt your paying on, really a non issue of that debt is in your credit reports anyway.

 

Some people have been denied credit with a UCC filing showing since the creditor obviously is confused to what it really is.

Edited by BRBiz
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There is a question some times if they hurt or help.. The general thinking is they help build credit but I'm not sure either way.. Basically it shows if you have a larger secured type debt your paying on, really a non issue of that debt is in your credit reports anyway.

 

Some people have been denied credit with a UCC filing showing since the creditor obviously is confused to what it really is.

Those who mentored me in biz credit have always said it helps immensely once the debt shows paid on-time and in full. Looks like a case study is in order on my side. Thanks.

 

Thanks for that link. Good read.

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  • 3 years later...
  • 1 year later...

all accounts are a matter of record, public record. Also, much if not most of the consumer report information is pulled from public records - or the information is obtained from entities whose original purpose was to track legal information (but then they became traffickers of information once they saw how lucrative the business model could be.) Of course they help. But of course they can also hinder, just like any other statement of account.

 

A UCC-1 is called A FINANCING STATEMENT it is exactly that a statement about financing. It is a statement or record of account regarding a creditor/debtor relationship. Isn't that what our consumer profiles and business credit profiles are? A statement or record of financed accounts showing whether they are paid on time or late. Please utilize this understanding to your advantage. Good luck and may blessings come with your "case study"

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