Collections refer to debt, and there are two types of debt; secured and unsecured. With secured debt, the borrower pledges to secure payment of the loan. So, for example, if he does not pay for materials or services used to improve his property, the creditor can place a lien on the property as a result of the failure to pay the secured debt. 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, for which there is no property pledged to secure the loan, the creditor may have to hire a collections agency or file a lawsuit. Unsecured debt collections may require more involvement and tactics to obtain the unsecured debt payment. Find more information here in the collections practice center.

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Collections Articles

-   Servicemembers Civil Relief Act -   Fair Credit Billing Act

-   Collecting Business Debts -   Fair Credit Reporting Act

-   Property Foreclosure -   If Your Business Loan is in Default

-   Fair Debt Collection Practices Act

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Collections Forms and Videos

Forms

-   Past Due Letter - 30-Day by State -   Stop Payment on Check by State

-   Past Due Letter - 60-Day by State -   Demand for Money Owed by State

-   Past Due Letter - 90-Day by State

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Ask a Lawyer - Debtor Creditor Law questions answered by leading lawyers Can a Lien Be Placed Upon My Property Without My Knowledge? During a recent real estate transaction, it was brought to my attention that a lien was put on my property by a former creditor. If I was never served a summons how then could a judgement have been rendered and a lien be put on my property? How do I proceed with trying to recover the monies held in escrow during my real estate transaction? Is The Following Business Opportunity With Regard to "Judgement Recovery" Viable? I have recently received information about a business opportunity regarding "judgment recovery." The business is descibed as follows: * Find a person or business that has a usatisfied small-claims judgment. * Have the plantiff sign a "Ackowledgment of Assignment of Judgment" transfering the ownership of the judgment to the recovery specialist and file the document with the JP court. *Find the defendants assets. *Seize assets by "Writ of Execution" or garnishments. *Receive recovery check from county. *File "Acknowedgment of Satisfaction of Judgment" with JP court. *Disperse the agreed upon percentage with plantiff. My question is once the judgment is assigned to the recovery specialist, may he or she now proceed to satisfy the judgment as if he or she was the original plaintiff? In addition, would the recovery specialist be defined as a creditor under the Fair Debt Collection Practices Act? How Do You Pierce the Corporate Veil? Could you give me more information on piercing the corporate veil. Personal Jurisdiction? It Is Not As Difficult As It Sounds. I have an ex-employee that I sold a portion of my business to. We have a contract for the amount of purchase. Now he has left the state. Is it possible to get a judgement against him when he is not in the state to receive a summons? Can I Discharge My Student Loans? I have defaulted on $20,000 worth of student loans, and random doctor bills. I am currently being garnished for the student loans. My credit is horrible. I made mistakes when I was young. What can I do to repair what I''ve done? I was told that I couldn''t file bankruptcy for the student loans.