Always read the fine print

Secretary of State warns of misleading mailing

For the Record
Posted 6/14/22

Secretary of State Elaine F. Marshall is urging people who have recent financing statement filings with the Department’s Uniform Commercial Code Section to beware of a deceptive mailer from a Raleigh-based company.

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Always read the fine print

Secretary of State warns of misleading mailing

Posted

RALEIGH — Secretary of State Elaine F. Marshall is urging people who have recent financing statement filings with the Department’s Uniform Commercial Code Section to beware of a deceptive mailer from a Raleigh-based company. The mailings from NC UCC Statement Service prompt people to pay a $90 fee to request a copy of a document that they can print directly from the UCC section of the Secretary of State’s website (www.sosnc.gov) for free.

“This appears to be the latest twist on an old scheme of mailers using misleading language aimed at holding consumers up for large and unnecessary fees for government filings,” said Marshall.

The Secretary of State’s Office has received reports from people with recent UCC filings who have received mailings with the header, “State of North Carolina Uniform Commercial Code Financing Statement Request Form.” The mailer does include fine print acknowledging that the company is not affiliated with any government agency and that consumers are not required to use their services.

“Our agency’s UCC Section is an important repository of records of the collateral used when loans are approved,” noted Marshall. “We’re the honest broker of information to lenders to help them approve loans based on collateral, so it’s worrying to see anyone using that public information in an attempt to lure consumers to pay unnecessary fees.”

Small businesses and others with UCC financing statements can search for those documents and print them off for no fee on the Uniform Commercial Code section of the Secretary of State’s website at www.sosnc.gov.

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