Payment For Due Bills In Michigan
Category:
State:
Multi-State
Control #:
US-00422
Format:
Word;
Rich Text
Instant download
Description
The Assignment of Money Due form is utilized in Michigan for the transfer of rights to collect payments on a specific debt from one party, the Assignor, to another, the Assignee. It serves to formalize the assignment of debts, such as unpaid invoices or accounts receivable, ensuring that the Assignee can pursue collection without liability to the Assignor. Users will need to identify the debt clearly within the form, specifying the amount owed and the due date, providing necessary documentation as evidence. It is essential to acknowledge that this assignment is non-recourse, meaning that the Assignee is responsible for collecting the debt, with the Assignor affirming its validity. This form is valuable for attorneys, partners, owners, associates, paralegals, and legal assistants who may need to enforce collection rights, facilitate financial transactions, or restructure debts for clients. Proper completion involves ensuring accurate details regarding the parties and the debt, as well as signatures from both the Assignor and Assignee. Given the straightforward structure of the form, users with varying levels of legal knowledge can effectively utilize it, making it an essential tool in debt recovery processes.
