An assignment is the transfer of property, or in this case, a chose in action. A chose in action is essentially a right to sue. It is an intangible personal property right recognized and protected by the law that has no existence apart from the recognition given by the law.
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Interesting Questions
While you can file a general assignment on your own, having a lawyer can make the process a whole lot smoother. They know the ropes and can help you dot the i's and cross the t's.
Unfortunately, once you dive in and file a general assignment, it’s not as easy as turning back. However, you can always talk to an advisor to see what your options are.
A general assignment usually lasts until your debts are settled or the agreement is completed. It’s all about getting back on your feet and moving forward.
Filing a general assignment lets you manage your debts better and keep your creditors from knocking on your door every five minutes. It's a chance to reorganize your finances without going into full bankruptcy.
Anyone in financial trouble can file a general assignment. If you’re feeling the weight of old debts making it hard to breathe, this could be an option worth exploring.
Yes! Alternatives include debt consolidation, bankruptcy, or negotiating directly with creditors. It's good to explore different paths to find what suits you best.
Generally, once you file for general assignment, creditors should cease their calls and collection activities. It's like putting a 'do not disturb' sign on your door.