Ucc1 Form 2011-2024

Ucc1 Form: What You Should Know

Statement Addendum UCC1 Financing Statements This PDF contains the form Financing Statement (UCC1 (Fin)). You must have an internet access or the ability to print this form on paper to complete filing this paperwork. The UCC1 Financing Statement (F1) is a statement of the amount of funds received on loans issued to Nebraska residents based on the credit of the lender. The “Debt” section of this form shows how the funds were used to pay or retire debts due the Nebraska Secretary of State. The ECC/AP (AP) Financing Statement (F2) is a statement of the total amount of funds available for cash flow needed to repay the loan to the lender. The “Debt” section of the AP Financing Statement (F2) shows how the funds were used to pay or retire the student's debts as defined in UCC § 1-101 and the state school system debt. If you do not know what type of loan you have, please refer to the Loan Types or Loan History table. You must provide this credit information for every loan or other financial obligation you have that shows you are a Nebraska resident. NOTE: For federal UED loans, the financial obligation in Section 1a; the total of all debt owed to all creditors for which payment has not been received prior to the time the loan enters repayment is not listed on the loan form. The financial obligation in Section 1b; the sum of all debts owed to all creditors for which payment has been received after the time the loan enters repayment is also not listed on the loan form. See: Loan Types, Bankruptcy, or Bankruptcy/Foreclosure. The “Amount of Funds Available/Cash Flow Needed” section of the UCC1 Financing Statement (F1) is required in order to determine whether the loan funds were used for the purposes of repayment and discharge of the student's financial obligation. The “Amount of Funds Available/Cash Flow Needed” is a direct indication of the net amount of the funds received on a loan by the Federal Department of Education Office for Student Financial Aid (OFS FA) or other entity for the purpose of discharging a student's financial obligation (i.e., loan payments or other payments) or for the purpose of repaying private sources and/or public obligations.

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