Money With Deal In Illinois
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due is a legal document used in Illinois to officially transfer the right to collect a specific debt from one party (the Assignor) to another (the Assignee). This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in debt collection or financial transactions. Key features include a clear description section for detailing the particular debt being assigned, typically an open account, and a clause indicating that this is a non-recourse assignment, meaning the Assignee assumes responsibility for collection. The Assignor warrants the validity of the debt, providing protection for the Assignee. Instructions for filling out the form involve inserting relevant information such as the names of the Assignor and Assignee, the details of the debt, and the execution date. This form is beneficial in situations where debts need to be sold or transferred, enabling effective recovery strategies in financial dealings. Its simplicity and straightforward nature makes it accessible for users with varying levels of legal experience.
