Debt Warrant Debtor Forgiveness
Description
How to fill out Assignment Of Debt?
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FAQ
Debt settlement involves offering a lump-sum payment to a creditor in exchange for a portion of your debt being forgiven. You can attempt to settle debts on your own or hire a debt settlement company to assist you. Typical debt settlement offers range from 10% to 50% of the amount you owe.
Unlike other types of consumer bankruptcy, Chapter 11 bankruptcy does not strictly define what will happen to debts. Certain types of debts (such as student loans, unpaid child support, and unpaid taxes) are not dischargeable, so if these are part of the bankruptcy, the plan must include a way to pay those back.
A warrant in debt is the paper you get when a bill collector is suing you in the Virginia General District Court. ?Warrant? might sound like it's a criminal law problem. It's not: you can't go to jail; but if you ignore it, your pay and bank account can get garnished.
Unfortunately, my circumstances are unlikely to improve in the foreseeable future and I have no assets to sell to help clear my debt. I am therefore asking you to consider writing off my debt as I can see no way of ever repaying it. If you are unable to agree to this, please explain your reasons.
A warrant in debt serves as an expedited motion for judgment in Virginia. It acts as (1) a summons appear before the appropriate GDC on the date listed to dispute the claim and/or (2) notice that if you do not appear, formal judgment may be entered against you in the amount claimed.
