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Financing Statements

Financing Statements

Learn about financing statements, the most common way a creditor may perfect its attached security interest.

Transcript

In this lesson, we’ll learn more about filing a financing statement, the most common way for a creditor to perfect its attached security interest.

I. Perfection by Filing a Financing Statement 

The financing statement is a simple document. 

For a financing statement to perfect a security interest, it must be properly completed and filed in the appropriate state office. It’s the secured creditor’s responsibility to meet these two requirements. 

To be properly completed, a financing...