Subject: Important Notice Regarding the Assignment of Debt in Michigan Dear [Debtor's Name], RE: Notice of Assignment of Debt I am writing to inform you that an assignment of debt has taken place regarding your outstanding financial obligations. This notice is to ensure transparency and to provide you with information regarding the transfer of your debt to a new creditor. Kindly note the following key details pertaining to the assignment of your debt: 1. Assignment of Debt: As of [date], your debt owed to [original creditor's name] in the amount of [debt amount] has been legally assigned to [new creditor's name]. This assignment was made in accordance with applicable laws and regulations governing debt transfers in the state of Michigan. 2. New Creditor Details: The newly assigned creditor, [new creditor's name], has assumed all rights, title, and interest in relation to your outstanding debt. They are now the rightful owner and beneficiary of the amount due. 3. Notice of Debt Transfer: By this notice, you are being informed of this assignment of debt. It is important to acknowledge that the terms of your original agreement with the original creditor still remain in effect. Nevertheless, moving forward, any payments or communications regarding this debt should be directed to the new creditor at the following address: [New Creditor's Name] [New Creditor's Address] [New Creditor's Contact Information] 4. Verification of Debt: As a debtor, you have the right to verification of the assigned debt. Upon request, the new creditor will provide you with detailed documentation regarding the debt, including the original agreement or any other supporting documentation to substantiate the transfer. 5. Further Communication: By cooperating and maintaining open communication with the new creditor, you can ensure a smooth transition in managing your outstanding financial obligations. It is advised that you promptly update your records and contact the new creditor for any inquiries, clarification, or payment arrangements. Please be aware that failing to comply with the terms of the assigned debt may result in possible legal actions to recover the outstanding amount, including but not limited to, collection efforts, credit reporting, or litigation, as allowed under Michigan laws. Should you have any queries or require any further details regarding this assignment of debt, please do not hesitate to reach out to the new creditor directly. They are well-equipped to assist you through this process and to answer any questions you may have. We appreciate your attention to this matter and hope for your immediate response in acknowledging this notice. Thank you for your cooperation. Sincerely, [Your Name] [Your Title/Organization] [Your Contact Information] --- Different types of Michigan Sample Letters for Notice to Debtor of Assignment of Debt: 1. Initial Notice to Debtor of Assignment of Debt: This letter is sent to debtors upon the initial assignment of their debt to a new creditor. It provides an overview of the transition and directs debtors to contact the new creditor for future communications and payments. 2. Verification Request for Assigned Debt: Debtors may choose to request detailed documentation to verify the assigned debt. This letter serves as a formal request for the new creditor to provide supporting documentation, including the original agreement or other records, to substantiate the debt transfer. 3. Notice of Default on Assigned Debt: If a debtor fails to fulfill their financial obligations under the assigned debt, the new creditor might send a notice of default. This communication informs the debtor of their breach and warns of potential legal actions or collection efforts if the default is not rectified promptly. Please note that the provided content is a general example and may need to be customized to fit specific circumstances or legal requirements. It is recommended to seek legal advice or consult with an attorney while drafting or using any sample letters related to debt assignment in Michigan.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.