How do I get rid of my secured debt?

In many cases, a bankruptcy discharge can eliminate your personal responsibility for secured debt, so the lender can't sue you for unpaid amounts. However, the lien on the property doesn't automatically go away. The lender can still take back the collateral if you stop making payments.

US Legal Forms
Forms Kit
Deeds
Multi-State
Land Deed of Trust

Secure Debt Shall Forget In Florida

Q: Is there really a government debt relief program?

When it comes to credit card debt relief, it&#039;s important to dispel a common misconception: There are no government-sponsored programs specifically designed to eliminate credit card debt. So, you should be wary of any offers claiming to represent such government initiatives, as they may be misleading or fraudulent.

Q: What is the 11 word phrase to stop debt collectors?

The phrase in question is: Please cease and desist all calls and contact with me, immediately. These 11 words, when used correctly, can provide significant protection against aggressive debt collection practices.

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

Control #:

US-00181

Format:

Instant download

Description

The 'Land Deed of Trust' form is a legal document used in Florida that secures a debt through the conveyance of property. This form enables the debtor to secure prompt payments of the indebtedness, which is detailed in a Promissory Note, and allows for the potential acceleration of payment upon default. Key features include the stipulation of insurance on the property, obligations for property maintenance, and the management of rents accruing on the property. The form must be filled by entering the names and addresses of the debtor, trustee, and secured party, along with specific details of the loan amount and repayment terms. Important editing considerations include ensuring that all parties understand their rights and obligations under the deed, as well as providing for clauses that address default and remedies for non-payment. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions or debt collection, as it clarifies the legal relationship between the debtor and secured party while providing mechanisms for enforcement. It not only facilitates lending processes but also protects the interests of creditors in Florida's legal framework.

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FAQ

When it comes to credit card debt relief, it's important to dispel a common misconception: There are no government-sponsored programs specifically designed to eliminate credit card debt. So, you should be wary of any offers claiming to represent such government initiatives, as they may be misleading or fraudulent.

In many cases, a bankruptcy discharge can eliminate your personal responsibility for secured debt, so the lender can't sue you for unpaid amounts. However, the lien on the property doesn't automatically go away. The lender can still take back the collateral if you stop making payments.

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Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.

If you file for a Chapter 7 bankruptcy, your secured debt may be discharged, but the lender is also able to repossess the property that secured the debt. In other words, if you have a mortgage on your home and file a Chapter 7 bankruptcy, the mortgage debt may be discharged but the lender can take back your home.

The statute of limitations in Florida on debt is five years. This means that once the five-year timeline has expired, creditors can no longer file a lawsuit against the borrower to try and recover the debt. This is only true of debts that include a written agreement, though.

Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt. Call a consumer within seven days after having a telephone conversation about that debt.

Most states or jurisdictions have statutes of limitations between three and six years for debts, but some may be longer. This may also vary depending, for instance, on the: Type of debt. State where you live.

The phrase in question is: “Please cease and desist all calls and contact with me, immediately.” These 11 words, when used correctly, can provide significant protection against aggressive debt collection practices.