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
What can I do to stop past due billing statements?
I am receiving past due notices and collection agency threats for bills that are already paid. I have spoken with a company representative and I have faxed my bank statement showing the amounts were withdrawn and paid to the company. I am concerned if this continues I will have negative entries on my credit report. What should I do? Thanks
Deficiency Balances After Repossession
I had a car repossessed in late 2008. In Dec of 2011 I signed a stipulation to pay the deficiency. I have been making payments since then. Lately the bank I make payments to is saying they are not receiving the payments although nothing has changed in the way I've been making payments for the past 3 years. They are saying that if I do not make my payments (although I am and have proof) they will default the account. Mind you when the car was repossessed I was never given the chance to pick up my property from the car or a chance to be at the auction. I was left with a deficiency of over $11k + court and legal fees which bumped it up to around $17k. I was in the military when all court documents were served and living in a different state. I have payed over $6k + the $13k of what the car sold and payments made while financing this car. Are they breaching the contract by not excepting the payments? Is this an example of unjust enrichment by the bank? Any help would be appreciated.
I have a judgement against me for credit card default 5 years ago. They froze my saving account and
Who pays mortgage, or is it a write off for the bank.
Original deed and mortgage in husbands name. Husband quit claim deed to spouse 4 years ago. Husband died. Bank says spouse not responsible for debt. Spouse has deed in her name and has homesteaded property. If spouse stops payment to bank. What can bank do? If they claim fraud, 4 years has passed since quit claim filed. What happens? Husbands estate has no value.
Debitor Called my work Prentending to be a Florida Prosecutor
When I received a call from my Job saying that I need to contact a prosecutor, I contacted them immediately. The person I talked to says that I am being sued for an unpaid debt back in 2012, I asked him why I have not received a notice in the mail. He went off on this whole tangent about me trying to defraud someone but I was trying to explain that I had not lived at that address for well over 2 yrs, he preceded to hang up. I called back asking for someone else he patched me through to someone who proceeded to just tell me I should get a lawyer without even asking who I was, I asked for information concerning the debit he told me he did not have time to tell me over the phone and that he will send an email, waited 2 days then called back and found out it was a collection agency when I gave them my case file they said it was no longer in the system and they sent it out as a refusal to pay. Never during the conversation did they say I needed to pay anything? Can I prosecute them?
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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
 -  Salem Lawyer - Harris, Wyatt & Amala, LLC
 -  Tampa Attorneys - Westchase Law P.A.
 -  New York Attorney - Barasch Mcgarry Salzman & Penson PC
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