Whether you're borrowing money or providing a loan to someone else, a Promissory Note is usually the best way to establish a record of the transaction and make sure that repayment terms, for example, are clear and fair.
However, an “IOU†is generally regarded as only an acknowledgment of a debt, not a promise to pay the debt. However, this form is a written promise to pay a debt.
When it comes to credit card debt relief, it's important to dispel a common misconception: There are no government-sponsored programs specifically designed to eliminate credit card debt. So, you should be wary of any offers claiming to represent such government initiatives, as they may be misleading or fraudulent.
No, debt relief and credit repair services are not inherent scams. They are legitimate resources to help consumers manage debt and increase credit scores.
You would respond to the court with a general denial of all of the allegations regarding you owing the debt and the actual amount of the debt. What you do is copy the heading on the top of the complaint and then under that you title your document Answer.
Debt relief refers to measures to reduce or refinance debt to make it easier for the borrower to repay it. Options for debt relief include forgiving a portion of the debt, lowering the interest rate, stretching payments over a longer period, or consolidating multiple debts into a single, lower-interest one.
The statute of limitations in Florida on debt is five years. This means that once the five-year timeline has expired, creditors can no longer file a lawsuit against the borrower to try and recover the debt. This is only true of debts that include a written agreement, though.
Debt settlement doesn't specifically appear on your credit reports, but certain activities related to debt settlement can stay on your reports for seven years. They include missed debt payments and paying less than the full balance you owe.
