(name of credit/collection office) and (name of debtor) both parties agree that the outstanding claims are ” . . . In addition, the parties agree that (name of the creditor/collection agency) accepts an amount of “O” and considers it 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. Payment is made as soon as the agreement is reached and either in the cash register or in the order of payment. This debt settlement contract consists of a single person (s) and a single creditor (s) and an individual person (s) (s). Here are some tips for writing the debt repayment letter: FULL INTEGRATION. This debt settlement contract replaces all previous agreements, agreements or negotiations, written or orally. If, for some reason, one or more of the provisions of this agreement: which is not considered null and void, unlawful or unenforceable in any way, whether nullity, illegality or inapplicability does not affect any other provision of this agreement, but that agreement is interpreted as if these invalidable, illegal or unenforceable provisions were never included, unless the removal of these provisions results in such a substantial amendment to make the conclusion of the transactions provided for by this agreement too unspeparable.
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. The descriptive titles of the sections and subsections of this Agreement are simple and have no influence on the structure or interpretation of this Contract. Unpaid receivables represent the total outstanding debt of the debtor to the creditor at the time this agreement comes into force, including capital, interest up to the date of that agreement and costs. 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. There are several legitimate difficulties in falling behind in the payment of the debt, including: PandaTip: In other words, this agreement is now the debt control agreement and, in any case, the terms of this agreement are different from those signed previously, the terms of this agreement are those that are used. After the successful payment of the amount compromised (name of the creditor/collection office), any negative information that he has possibly included in the debtor`s credit report will be deleted. In addition (name of credit/collection agency), it agrees never to place such information on the debtor`s credit report in the future. Additional payment. After payment by the debtor, the creditor does everything in its power to withdraw unpaid debts from the credit institutions. In addition, the creditor states that it will not provide any additional information that could adversely affect the debtor`s credit report. This contract is valid until (date) and is considered null and void if the debtor has not made the payment within the due period and the status of the account is immediately considered due.
The debt settlement contract is a contract between a creditor and a debtor to renegotiate or compromise a debt. This is usually the case when a person intends to make a final payment for a debt owed. The debtor proposes a payment less than the outstanding (usually between 50% and 70%) if payment can be made immediately. If no compensation is offered, the creditor must hire a collection office or even go to court, which he wants to avoid doing.