How do I get a hold of my debt?

Contact a credit counseling service. A nonprofit credit counselor can help you come up with a plan for getting out of debt. They'll review your personal financial situation and budget with you and make recommendations for how you can tackle your debts, afford your bills and create a budget.

US Legal Forms
Deeds
Land Deed of Trust

Secure Debt Shall With No Interest In Bronx

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Bronx

Control #:

US-00181

Format:

Instant download

Description

Debtor is obligated to pay the secured party attorneys fees. In consideration of the indebtedness, debtor conveys and warrants to trustee certain property described in the land deed of trust.

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FAQ

This typically helps a person trying to rebuild their credit after bankruptcy. Borrowers who do not reaffirm a debt, however, typically won't see their payments registered with credit reporting agencies.

You cannot reaffirm any debt after your bankruptcy has been discharged. Bankruptcy law requires any reaffirmation to occur before the discharge is entered. In addition, the only reason to reaffirm is to persuade the mortgage company to report your ongoing payments to the credit bureaus.

A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.

Contact a credit counseling service. A nonprofit credit counselor can help you come up with a plan for getting out of debt. They'll review your personal financial situation and budget with you and make recommendations for how you can tackle your debts, afford your bills and create a budget.

What information is required for a UCC-1 filing? For a filing against an individual person as the debtor, the required information is: Last name, first name. Mailing address, city, state, zip code and country.

Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor's assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the "creditor" of the creditor's interest in the property.

How long does a UCC filing last? A UCC-1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC-1 filing has lapsed.

The UCC also does not apply if none of the parties are a merchant. In other words, the sale of goods between individuals is governed by the common law. If a sales transaction involves a merchant, then the UCC usually applies.

Uniform Commercial Code (UCC) Financing Statement shows a security interest in personal property including in a cooperative corporation. The Office of the City Register records Uniform Commercial Code (UCC) Financing Statements for co-ops. All other UCCs must be filed with the NYS Department of State.

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Secured debts are those for which the borrower puts up some asset to serve as collateral for the loan. We can help you decide if reaffirming your debt is right for you.If so, we can help you draft a reaffirmation agreement that protects your interests. When a chapter 13 is filed, your unsecured creditors may not continue to tack-on interest. The question is, how much interest and fees will you have to pay and can you afford your monthly payments so you don't end up back in a similar circumstance? Interest from a date certain must be provided for in the stipulation or no interest may be taxed. c. When you are included in the lien sale, the City of New York sells your debt to an authorized buyer. The buyer then has the right to collect what you owe. Unless applicable law requires, Lender shall not be required to pay Borrower any interest, earnings or profits on the Imposition Deposits. Discover tailored debt relief programs in the Bronx with TurboDebt.

Secure Debt Shall With No Interest In Bronx

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FAQ

Why would someone choose to reaffirm a debt?

Can you reaffirm a debt after discharge?

How does chapter 13 work in New York?

How do I get a hold of my debt?

Can you file an UCC on an individual?

Why would someone file a UCC?

How long is a UCC filing good for?

Does the UCC apply to individuals?

Can an UCC be filed on an individual?

What is an UCC filing in New York?

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