9-507 states that if you fail to amend a debtor's name within four months of the change, the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the change.

What happens if you file the amendment 6 months after the name change? Do you become perfected again, with respect to after acquired collateral? Are you only unperfected with respect to collateral acquired during those 2 months that followed the 4 month grace period. Or, on the other hand, once this 4 month period expires, is the window permanently closed for filing an amendment. Do you have to file a new UCC to pick up any after-acquired collateral?

I assume you have already determined that the debtor's name change would be determined to be "seriously misleading" under Section 9-506, otherwise an amendment is not necessary. If a search of the records of the filing office under the new name would still turn up your original filing, the new name would not be "seriously misleading" and your filing would have priority over any subsequent filng under the new name.

I am not aware of any case decided under this section of Revised Article 9 so I can only give my opinion of the outcome if your amendment was filed after the four month grace period.

If you file an amendment after four months, the filing office will probably take it, but just because it is filed does not mean it will be effective. Remember, one intent of Revised Article 9 was to take the decision making process out of the hands of the filing officers.

I don't think an amendment filed later than four months will be effective against another secured party who has filed a financing statement under the new name. If no other financing statement has been filled, you could file a new financing statement under the new name that would pick-up the collateral acquired after the four month period. If a new filing had been made you most likely are in second position.

You still may have a claim against your borrower if the name change was made with the intent to defraud you or in violation of a covenant of your loan agreement.