UCC-1 forms are filed to announce that a lender has a right to collateral on a loan. Read more about what these filings are and when lenders file them.

While it won't damage your credit scores, a UCC filing can impact your ability to obtain credit in the future.

A UCC-1 financing statement is a type of UCC filing that a lender files with the borrower’s secretary of state to formalize—or perfect—its right to underlying loan collateral.