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LSDefine

Simple English definitions for legal terms

proof of debt

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A quick definition of proof of debt:

Proof of debt is a way for a creditor to show that someone owes them money. They have to follow certain rules, like filling out a form or writing a statement, to prove that the debt is real. This is the first step in trying to get the money back from the person who owes it.

A more thorough explanation:

Definition: Proof of debt is a process where a creditor provides evidence of a debt owed to them in a specific way, such as through an affidavit. This is the first step in trying to recover the debt from an estate or property. It is also known as proof of claim.

Example 1: John is a creditor who is owed $10,000 by a debtor who has recently passed away. John needs to provide proof of debt to the executor of the estate in order to try and recover the money owed to him. He submits an affidavit detailing the amount owed, the reason for the debt, and any supporting documents.

Example 2: Sarah is a business owner who has provided services to a client who has not paid their bill. She decides to take legal action to recover the debt and must provide proof of debt to the court. She submits invoices, contracts, and any other relevant documents to prove that the debt is owed.

These examples illustrate how proof of debt is used to establish that a debt is owed and to begin the process of trying to recover the money owed. It is important for creditors to provide accurate and complete information in their proof of debt in order to have a better chance of successfully recovering the debt.

proof of claim | proof of loss

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General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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