Legal Question in Credit and Debt Law in New York

Re: LegalForms

The form used to record the creation of a security interest is a UCC-1 Financing Statement. That's not the same as a security agreement. Be careful. There are lots of things that can go wrong when you file a UCC-1. You might describe the collateral incorrectly, or too broadly. You might file in the wrong place. (Place of filing is gloriously complex.) Any of these errors can be lethal to the perfection of the security interest. You would be well-advised to pay an attorney for a bit of time to counsel you on how and where to file. An ounce of prevention is worth a pound of cure. Et c.