Q: Does a UCC filing from a creditor terminate after filing chapter 7 bankruptcy and receiving a discharge?
The UCC was filed on 03/30/22, I filed bankruptcy on 05/10/22, because it was filed within 90 days prior to my bankruptcy filing does it become invalid? Thank you.
The filing of a UCC-1 by a creditor more than ninety days prior to a bankruptcy filing (so not a preference) creates a perfected lien against identified collateral/property.
Liens are not dischargeable in a Chapter 7 case; nor can they be stripped down (the Dewsnup case).
A UCC-filing may expire after five years, if not renewed by the creditor with a Continuation Statement.
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