Debt settlement agreement
Agreement for settlement of a debt - in exchange for early settlement, the debtor agrees to accept less money.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this document
This document as drawn is fit to be used for finalizing terms in settlement of a debt consequent to the parties reaching a compromise in respect of repayment of money due before the due date. There is little or no statutory regulation relating to an agreement of this nature, so the parties can make more or less what deal they choose.
Who will use this document?
Any person, company or firm lending or borrowing money irrespective of any business they are into and then wanting to compromise the debt.
Application and features
- Very brief with comprehensive provisions;
- Ready for adaptation to particular needs of either or both parties;
- Comprehensive provisions provide ideas and address all eventualities;
- Real law in simple English. No complexities.
- The purpose of the agreement;
- Terms of settlement;
- Provisions for return of security;
- Method and schedule of repayment;
- Conditions on default;
- Successors and assigns.
How other customers rated this document
Average customer rating
"Easy and fulfilled my needs. The documents are accepted by the other parties solicitors without my waiting for my own solicitors to act. Professional documents, easy to use saved my time and money."Roy Butterworth
"I was recommended to you some time ago - many thanks for an excellent document. I have you in my "favourites" Easy to navigate website - clearly displayed and simple to understand. Very easy to use and edit document in clear English. It has enabled me to present a professional and relevant document to my customers with ease. I will recommend Net Lawman due to easy to use website, documents in clear English and easy to edit, very reasonable and prompt."Martha Walker
"The document was clear to read, easy and quick to use. I will recommend Net Lawman due to ease of usability."Clive Bonny