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HomeCommercial CodeDiv. 9Ch. 5§ 9518 Correcting Financing Statements

§ 9518 Correcting Financing Statements

Commercial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 9518 Correcting Financing Statements

Key Takeaways

  • •If you think a record about you is wrong or shouldn't be there, you can file a paper to explain why.
  • •Your paper must say which record is wrong, why you think it's wrong, and how to fix it.
  • •If someone else filed a record they shouldn't have, the person in charge can also file a paper to say it's wrong.
  • •Filing this paper doesn't remove or change the original record—it just adds your side of the story.

Example

You check your credit report and see a loan listed under your name that you never took out.

You can file a paper saying that loan isn't yours, explain why (like 'I never signed for this'), and ask for it to be fixed. The loan won't disappear right away, but your paper will show that you don't agree with it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 9518 Correcting Financing Statements

(a) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed. (b) An information statement filed under subdivision (a) shall do all of the following: (1) Identify the record to which it relates by both of the following: (A) The file number assigned to the initial financing statement to which the record relates. (B) If the information statement relates to a record filed or recorded in a filing office described in paragraph (1) of subdivision (a) of Section 9501, the date that the initial financing statement was filed or recorded, and the information specified in subdivision (b) of Section 9502. (2) Indicate that it is an information statement. (3) Provide the basis for the person’s belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person’s belief that the record was wrongfully filed. (c) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under subdivision (d) of Section 9509. (d) An information statement filed under subdivision (c) shall do all of the following: (1) Identify the record to which it relates by both of the following: (A) The file number assigned to the initial financing statement to which the record relates. (B) If the information statement relates to a record filed or recorded in a filing office described in paragraph (1) of subdivision (a) of Section 9501, the date that the initial financing statement was filed or recorded and the information specified in subdivision (b) of Section 9502. (2) Indicate that it is an information statement. (3) Provide the basis for the person’s belief that the person that filed the record was not entitled to do so under subdivision (d) of Section 9509. (e) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record. (Amended by Stats. 2013, Ch. 531, Sec. 20. (AB 502) Effective January 1, 2014. Operative July 1, 2014, by Sec. 28 of Ch. 531.)

Last verified: January 23, 2026

Key Terms

information statementinaccuratewrongfully filedsecured partyinitial financing statement

Related Statutes

  • § 9514 Financing Statement Assignment Rules
  • § 9516 Filing Office Record Acceptance
  • § 9502 Financing Statement Requirements
  • § 9505 Financing Statement Filing Terms
  • § 9513 Consumer Goods Financing Termination

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Commercial Code. Section 9518.
View Official Source