This agreement allows both parties to negotiate a smaller amount of money and reach a consensus that the debtor will pay for the interest on the debt. In this way, the debtor can afford to repay the debt and reduce its impact on their credit health, while the creditor can accept a lesser amount to recover some of its losses. This agreement can be used to submit in writing the terms of the agreement negotiated by the parties or be used for one of the parties to propose to the other party the terms of the debt outstanding solution. – [to be completed if necessary] (the “repayment schedule”). Thus, the parties have decided to conclude this debt repayment agreement, known as the “agreement”, including its recitals and annexes which are incorporated and which are indivisible. The debtor ensures and ensures that he/she realizes that this payment plan has been designed so that he or she can make the necessary payments without incurring further debts or inconveniences. 5. Representations and guarantees. Both parties state that they have full authority to conclude this agreement. The performance and obligations of one of the contracting parties do not infringe or infringe the rights of third parties or violate other agreements between the parties, individually, and any other person, organization or company, or any other law or administrative regulation. After payment – Once the last payment is made, the creditor will agree to withdraw all damaging bookings from the debtor`s credit report.
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. Several other domains will also require information, starting with “I.