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Sample Of Debt Collection Agreement

(name of creditor/collection office) and (name of debtor) herethly agree to compromise the amount of the debt under the following conditions: both parties are required to comply with the rules and rules of the agreement and it will benefit the parties, their successors and the transferees. This agreement aims to negotiate and find a debt under the following conditions: ACKNOWLEDGMENT OF DEBT. The debtor agrees and acknowledges that he is fully indebted to the creditor. 7. Tax scale: It is agreed and understood that the following contingency tax applies to all accounts placed for collection. Debts that have been outstanding for more than a year are subject to higher fees. FULL INTEGRATION. This debt settlement contract replaces all previous agreements, agreements or negotiations, written or orally. CONSIDERING that the debtor is liable to the creditor for an amount equal to [AMOUNT DEBT DOLLAR] dollar (the “debt”) (the “debt”); and PandaTip: In other words, this agreement is now the debt control agreement and, in any case, the terms of that agreement are different from those signed previously, the terms of that agreement are the ones that are used.

Several pieces of information will be needed to balance the text of this agreement. In the beginning, we will consolidate the parties who intend to enter into this contract. First, we will identify the creditor. That is, the party that holds the debt. Write down the creditor`s legal name on the first space of the first paragraph. Then, with the second empty line, document the address of the creditor`s street. Finally, the third and fourth empty posts will need the city and the state linked to the creditor`s designated road address. Then we will identify the debtor. This is the party that is required to repay the debts outstanding to the creditor. We must document the same information about the creditor in the rest of this paragraph. Then, if you are looking for the fifth empty space in this paragraph, document the debtor`s full name. Continue the debtor`s report with his address, city and state of residence on the sixth, seventh and eight empty spaces.

In other areas, information is also needed, starting with the date of “I. Validity Date.” This is the date on which the terms of this agreement act or take effect. Save the name of the month, the double-digit day and the double-digit year on the first calendar day during which the agreement becomes active. Then, in “II. Current debt” we will have to document the full current debt that the debtor is obliged to pay the creditor. Use the empty line placed in this statement after the dollar symbol to save this amount of money. The third point, “III settlement Debt,” asks for the adjusted amount of debt that has been set for the purposes of this document, which is made available to the empty line. This is the amount that the debtor has agreed to pay in exchange for the cancellation of the creditor`s debt in the manner defined here.

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