This review list is provided to inform you about this document in question and assist you in its preparation. Account Assignment Notice to Debtor is important to implement and is useful way to get prompter collection from late payers as well as giving firms liquidity by signing over these debts to financial companies, and then drawing down advances as negotiated with these financial firms.
1. Make multiple copies. Be sure the New Party gets notice; send one, of course, to the Debtor; and put a last copy in the Debtor’s file in your office.
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Account Assignment, Notice to Debtor
Re: Your account with __________________________
Your account with __________________ has been transferred to _______________ (“New Party”). Effective immediately, all payments in regard to this account must be made to ____________________ at the following address:
Payments made to the old address will be forwarded to the New Party.
for ____________________________ By Creditor
cc New Party