0
TO: ________________________
____________________________
____________________________
____________________________
Attention: __________________
FROM: ______________________
____________________________
____________________________
____________________________
Attention: __________________
Dated: ___________________________
Pursuant to Section 9-208 of the Uniform Security Code, ____________________, as debtor, requests that the Secured Party, __________________________, provide:
A statement of account, indicating the aggregate amount of unpaid indebtedness as of _______________________. Approval of the following statement of collateral as constituting a correct statement of the collateral claimed by Secured Party as of ______________________.
See Exhibit "1" to this form.
The statement above is (check one):
__ Accepted as correct
__ Incorrect, our corrections or response are attached hereto
Dated: ____________________________________
________________________, by:
___________________________________________________
An Authorized Officer
Title: ___________________________________________
_________________________, by:
__________________________________________________
An Authorized Officer
Title: _____________________________________
Debtor Request for Certified Statement from Secured PartyReview List
This review list is provided to inform you about this document in question and assist you in its preparation. This is request from a debtor to secured party to certify the exact amount then due from debtor. This is useful for a variety of reasons, among them for the benefits of your financial statements and your auditors, should you have them.
1. Make multiple copies. Put one in your financial file, another in the secured partys file, and the other in a follow-up file.
What else can I help you with?
What is Statement of intention in chapter 7?
A document filed to disclose which secured debts the debtor intends to reaffirm. The debtor typically reaffirms debts secured by collateral he wants to keep. When a debtor reaffirms a debt, it is excepted from the discharge. The debtor can be sued on the debt if he fails to pay it, even after the discharge is entered.
If in a secured transaction the original debtor transfers debt to new debtor does the secured party retain PMSI?
Yes.
Who do you file a ucc 1?
A UCC-1 financing statement is typically filed by a secured party, such as a lender or creditor, to establish a security interest in the personal property of a debtor. This document is filed with the appropriate state office, usually the Secretary of State, where the debtor is located or where the collateral is situated. The filing serves to publicly record the secured party's interest and protect their rights in the event of the debtor's default.
Does the lender by law have to notify a co-signer that the buyer is behind on payments in New York state?
Does the co-sugnor meet these requirements??? http://assembly.state.ny.us/leg/?cl=122&a=72 Section 9--605. Unknown Debtor or Secondary Obligor. A secured party does not owe a duty based on its status as secured party: (a) to a person that is a debtor or obligor, unless the secured party knows: (1) that the person is a debtor or obligor; (2) the identity of the person; and (3) how to communicate with the person; or (b) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows: (1) that the person is a debtor; and (2) the identity of the person.
Becoming a secured party?
Becoming a secured party involves establishing a legal relationship where a lender or creditor has a security interest in a debtor's collateral. This typically requires the debtor to grant the secured party a security interest through a written agreement, often evidenced by a promissory note or security agreement. To perfect this interest and protect it against third parties, the secured party may need to file a financing statement with the appropriate state authority, usually under the Uniform Commercial Code (UCC). This process ensures that the secured party has a legal claim to the collateral in case of default.
Pledge of Royalties?
Pledge of Royalties(Download)_____________________, referred to as DEBTOR, and _____________________, referred to as SECURED PARTY, agree:DEBTOR is indebted to SECURED PARTY in the sum of $______ (___________________________ & _____/100 dollars) pursuant to a promissory note dated _____________________; and in consideration of said note, and as security for the payment of said indebtedness, the DEBTOR hereby assigns, transfers to and pledges, any and all royalties and other compensation due from ______________________ to the DEBTOR.The DEBTOR warrants and represents with respect to such royalties:1. That the DEBTOR is the absolute owner of the right to receive such royalties.2. That the royalties are not subject to any prior, assignment, claim, lien or security interest.3. The DEBTOR will not make any further assignment of the collateral or create any further security herein, nor to permit his right therein to be reached by attachment, levy, garnishment or other judicial process.4. That the payer of the royalties is not in default under its obligations to pay the same.5. That the DEBTOR is in compliance with all of his obligations under the contract with the payer.In the event that the payer has the right to charge the account of the DEBTOR for failure to perform under the agreement, the DEBTOR shall promptly perform all of such contractual obligations.Upon the request of the SECURED PARTY, the DEBTOR shall, at the expense of the SECURED PARTY, audit the books and records of the payer to ascertain the proper payment of the royalties. In the event that the audit results in the recovery of funds, the recovery shall first be applied to the expenses, and the surplus, if any, to the debt.Upon the request of the SECURED PARTY, the DEBTOR shall direct the payer to pay all royalties directly to the SECURED PARTY.DEBTOR herewith constitutes the SECURED PARTY as his lawful attorney to demand payment of the royalties, as well as bring any actions to secure payment of the royalties, or any other rights of the DEBTOR under the contract. DEBTOR shall fully and completely cooperate with the SECURED PARTY in such actions.Should DEBTOR breach any of the warranties or obligations of this agreement the same shall be considered to be a breach of the underlying debt and shall entitled SECURED PARTY to accelerate payment of the debt.The collateral pledged herein shall secure any and all obligations of the DEBTOR to the SECURED PARTY.Dated: ______________________________________________________________________________________, DEBTOR________________________________________________________________, SECURED PARTYPledge of RoyaltiesReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. Royalty receivers rarely realize how valuable a pledge can be to secure funding. Many such deals have been done and you to can do one, on either side of the transaction. Since payments come from a third party, it is relatively straightforward to perfect the interests in the favor of the Secured Party.1. Make multiple copies. Give one to each signatory. Keep one in the transaction file.2. You can also modify the above agreement to provide for the royalty payer to pay the royalties directly to the Secured Party until all obligations are extinguished. In that case, the Royalty Payer should be included in the Agreement and as a signatory.
Can the employer request the collector not to call debtor at work?
YES
When a debtor enters bankruptcy a secured creator retains priority to the secured assets unless it files a proof of claim for the full amount owed?
Actually, a secured creditor only retains priority if they file a claim.
What does hindering a secured creditor mean?
Hindering a secured creditor means hiding or concealing property that is theirs. It can also mean not releasing information about a debtor that you would know.
Can a lien for an unsecured loan be filed against a law suit?
A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.A creditor can sue in court to obtain a lien against a debtor for an unsecured loan. If successful in the lawsuit, the creditor can request a judgment lien that can be used to take the debtor's property to pay the amount due.
Why is it easier to get a secured loan?
A secured loan is one in which the debtor pledges some tangible item of value, such as a motor vehicle or real estate, as "security" for the loan - i.e., the creditor may take possession of that item if the debtor defaults on the payments. This makes the loan safer for the creditor and, therefore, easier to get.
Can a lien be placed on an investment property in fl owned by a person who has not paid off a promissary note?
Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.Yes. The creditor must sue the debtor in court and if they are successful they can request a judgment lien. The lien can be recorded in the land records.
