Tennessee Secretary of State Warns of New Scam Targeting Tennesseans
The Tennessee Secretary of State’s office is warning Tennesseans about an official-looking mailer from TN UCC Statement Service that incorrectly implies that businesses or individuals need a copy of the UCC-1 financing statement filed against them.
The Uniform Commercial Code (UCC) is a comprehensive set of laws governing sales and other commercial transactions. A UCC-1 financing statement is a legal form that a creditor files to give notice that it has the right to take possession of and sell certain assets belonging to the debtor for the repayment of a specific debt.
UCC-1 financing statements are common in Tennessee, with the Secretary of State’s Division of Business and Charitable Organizations issuing around 200,000 each year.
The scam mailer, Tennessee UCC Statement Request Form, tries to get Tennesseans to pay $107 for the TN UCC Statement Service to request a copy of the UCC-1 financing statement on behalf of the debtor. The mailer implies that the recipient needs a copy of the UCC-1 financing statement. This is rarely the case, the Secretary of State clarified.
Businesses and individuals that do want a copy of a UCC-1 financing statement can request one directly from the Secretary of State’s office for $15 by phone at 615-741-2286, mail or online.
To report the receipt of a suspicious mailer about a UCC-1 financing statement, contact the Division of Business and Charitable Organizations by phone at 615-741-2286 or email at TNSOS.CERT@tn.gov and the Attorney General’s office by phone at 615-741-3491 or online.