Debt Settlement Agreement Letter Sample

Posted: December 6, 2020 in Uncategorized

Once the payment has been made, no further action will be taken by your party to recover the alleged claim. I will make the full payment with a cash cheque within five days of signing this contract. I understand that if the payment is not made according to the agreed time, this agreement is null and void and the total amount I owe will be due. Once I have made the agreed payment, you will delete all negative information about my credit report and, in the future, you will not place any negative information on my credit report regarding this debt. Please sign the provided copy of this debt compensation letter and send it back to me. Thank you for your kind consideration on this. If you have any questions, I can contact the phone number or email address. This debt settlement agreement (the “contract”) specifies the terms of the contractual agreement between [COMPANY] and the place of [ADDRESS] (the “debtor”) and [COMPANY] with its main place of activity [ADDRESS] (the “creditor”) which agrees to be bound by this agreement. This can lead the creditor to deposit the letter in the trash. If the creditor has agreed to settle the debt over the phone, the difficulties should not be mentioned in the letter.

Home “How to draft a debt repayment proposal Here are some tips for writing the debt letter: The outstanding debt represents the total outstanding debt of the debtor to the creditor at the time of the entry into force of this agreement, including capital, interest up to the date of this agreement and cost. Receive each debt account in writing and signed by the person concerned. These include the date on which the agreed amount must be paid in full There are several legitimate difficulties in reintegrating the amount of debt payments, including: the obligation for the parties to conclude transactions under this agreement depends on the fact that these factual assertions are accurate at the time of the facts described in Section 13. Each party releases the other party from any claim arising from the erroneous factual claim. (name of credit/collection office) and (name of debtor) both parties agree that the outstanding receivables are “. In addition, the parties agree that (name of the creditor/collection agency) should accept an amount of “O.S.” and be considered a full payment. Acceptance of the payment is considered to be a complete relief of all invoices due and (name of creditor/collection office) will not make a new step in the recovery of the alleged debt.

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