Fraudulent UCC Financing Statement Affidavit {UCC7}

FRAUDULENT UCC FINANCING STATEMENT AFFIDAVIT. This form used in Michigan to challenge and terminate a fraudulent Uniform Commercial Code (UCC) financing statement filed with the Michigan Secretary of State. A UCC financing statement is typically used by creditors to publicly declare a security interest in a debtor’s assets. However, in some cases, fraudulent statements are filed to improperly claim ownership over someone's property or assets. This affidavit allows an individual or organization identified as a debtor in a fraudulent filing to formally declare that the financing statement is false. The filer must provide details about the fraudulent record, including the initial financing statement file number and an explanation of why it is fraudulent. The affidavit must be signed under penalty of perjury and notarized before submission. Once filed, a valid fraudulent UCC affidavit terminates the fraudulent financing statement, effectively removing the false claim. The form cannot be used to challenge filings made by regulated financial institutions such as banks, credit unions, mortgage lenders, and insurance companies. Filing a false fraudulent UCC affidavit is a felony under Michigan law (MCL 440.9501a(9)), punishable by up to five years in prison, a $2,500 fine, or both. www.FormsWorkflow.com