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Creditor and Debtor

Creditor and debtor law includes the rights and obligations of (1) creditors who extend credit and make loans to consumers and businesses and (2) consumers and businesses who seek credit and loans for their personal and business finances. Creditor/debtor law consists primarily of state and federal statutes.

In Florida, creditor and debtor law is governed by both state statutes and federal laws that outline the rights and obligations of creditors and debtors. Creditors are individuals or entities that extend credit or make loans, while debtors are consumers or businesses that obtain credit or loans for personal or business purposes. Florida's statutes provide specific regulations on how debts can be collected, the process of repossession, the rights of debtors to exempt certain property from creditors in bankruptcy, and the procedures for filing for bankruptcy, which is primarily governed by federal law. Additionally, the Florida Consumer Collection Practices Act (FCCPA) offers protections to consumers from abusive collection practices by creditors and debt collectors. Creditors must adhere to these laws when attempting to collect debts, and debtors have certain rights to protect them from unfair practices. It's important for both creditors and debtors to understand their legal rights and obligations under these laws to ensure compliance and to protect their interests.

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Creditor and Debtor

Individual & Family Legal Plan

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Florida State Code

Florida State Code

Creditor and Debtor

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