Debtor and Creditor

Debt falls into two categories; secured and unsecured. With secured debt, the borrower, or debtor, pledges to secure payment of the loan. With unsecured debt, there is no property or "collateral" pledged to secure the loan. If a loan is in default, the creditor has to right to collect from the borrower, and may use any of a number of methods to do so. Foreclosure, a method of collecting amounts owed on real property, follows strict statutory procedures. The repossession of secured personal property usually follows the state Uniform Commercial Code (UCC). To collect an unsecured debt, the creditor may have to hire a collections agency or file a lawsuit. Please read on to find a debt lawyer, attorney, or learn more about debtor and creditor information. Debt information and lawyer listings provided by

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-  Debt Settlement Agreement-  Returned Check Notice
-  Demand for Payment on Promissory Note-  Small Claims Service
Legal articles focusing on Debtor and Creditor Law
Request Your Free Credit Report Every Year
Your credit report is a record of all open accounts you have as well as your payment history with each of them. If you file for bankruptcy, it will appear on your credit report. Three national companies keep these records, and the law limits what they can do with the information they about you.
What It Means to Be Judgment Proof
Creditors can't obtain money or property from a debtor who is judgment proof. This means someone is insolvent, doesn't have enough assets to pay a debt or is protected by exemption laws. The debtor should consider future finances and debts when deciding whether to file for bankruptcy protection.
Servicemembers Civil Relief Act
The Servicemembers Civil Relief Act gives rights and protections to members of the military. The act helps service members focus on defending and protecting the country, and gives additional rights to military service members who take pay cuts while on active duty.
Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act promotes ethical business practices by debt collectors by prohibiting their use of unfair, deceptive and abusive practices. The law applies to all persons who collect debts for other creditors and imposes criminal and civil penalties for violations.
Creditors' Legal Rights
Knowing your rights is the first step in sucessful debt collection.

Ask a Lawyer - Debtor and Creditor Law questions answered by leading lawyers
had 2 back surgeries in the past 3 month.
Needs about 4 months for recovery. In the meantime I can't make payments on my credit cards, I don't want my credit to get ruined. please advise me what to do.
can a person that got a judgement against you freeze a joint account including your kids accounts?
I received a judgment against me for nonpayment(was injured in auto accident and lost my job) I was unable to pay. Without being notified, today my bank account that is joint with my spouse was frozen along with both my kids accounts. I don't know what to do, or if this is legal. Please Help!!
What is meant by "independent counsel" when used in a loan agreement.
a non[profit organization in florida wants to borrow money to invest in low income properties using securities as collateral. The lending organization who is also the securities broker onece an "independent counsel" on said independent counsel's letterhead to dertify said lender is in fact a non-profit orginization under Federal, New york and florida law.
How many times can a creditor call me?
I'm getting to the point now where I can't take it anymore. In the last 21 days I've received 72 calls from a big name credit card company with the latest being 745pm on a Sunday over a missed payment of $25. My card isn't over 50 percent utilized and I don't want to even talk to them because I'm so annoyed. I don't think it's right that they can can me over 100 times in a month. Can someone please tell me what rights I have?
can I file for bankruptcy if im in debt only in credit cards?
Credit cards bills have been piling up for the past six months totaling to about $ 8,000. I am not employed and dont have any income coming in.
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Debtor and Creditor Lawyer Web Sites
 -  Mississippi Law - Cumbest, Cumbest, Hunter & Mccormick, P.A.
 -  Maui County Law - Tateishi & Pascual, Attorneys A Law Corporation
 -  Maui County Attorney - Yanagida & Associates
 -  Washington Litigation - Jack H. Olender & Associates, P.C.
 -  Baltimore Law - Leviness, Tolzman & Hamilton, P.A.
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