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    Debt Settlement Agreement Template

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    UP LAW
    This debt settlement agreement is between a creditor and debtor to settle a present debt of $________ for a settlement amount of $__________. The debtor will make payment by _____________ or the agreement is void. Upon payment, the creditor agrees to remove all late entries and claims from the debtor's credit report and discharge the present debt as paid in full. Both parties agree to keep the agreement confidential and not bring any further claims related to the present debt.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Debt Settlement Agreement Template

    Uploaded by

    UP LAW
    418 views2 pages
    This debt settlement agreement is between a creditor and debtor to settle a present debt of $________ for a settlement amount of $__________. The debtor will make payment by _____________ or the agreement is void. Upon payment, the creditor agrees to remove all late entries and claims from the debtor's credit report and discharge the present debt as paid in full. Both parties agree to keep the agreement confidential and not bring any further claims related to the present debt.

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    This debt settlement agreement is between a creditor and debtor to settle a present debt of $________ for a settlement amount of $__________. The debtor will make payment by _____________ or the agreement is void. Upon payment, the creditor agrees to remove all late entries and claims from the debtor's credit report and discharge the present debt as paid in full. Both parties agree to keep the agreement confidential and not bring any further claims related to the present debt.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    418 views2 pages

    Debt Settlement Agreement Template

    Uploaded by

    UP LAW
    This debt settlement agreement is between a creditor and debtor to settle a present debt of $________ for a settlement amount of $__________. The debtor will make payment by _____________ or the agreement is void. Upon payment, the creditor agrees to remove all late entries and claims from the debtor's credit report and discharge the present debt as paid in full. Both parties agree to keep the agreement confidential and not bring any further claims related to the present debt.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    DEBT SETTLEMENT AGREEMENT

    This Debt Settlement Agreement, hereinafter known as the “Agreement”, is between


    ____________________ of ____________________ City of ____________________, State of
    ____________________, hereinafter known as the “Creditor”, and ____________________ of
    ____________________ City of ____________________, State of ____________________,
    hereinafter known as the “Debtor”. When mentioned jointly shall be the “Parties”.

    I. Effective Date. ____________________, 20___ shall be the effective date of this Agreement
    with the Parties agree to the following:

    II. Present Debt. The Parties agree that there is a current debt owed by the Debtor in the
    amount of $____________________, hereinafter known as the “Present Debt.”

    III. Settlement Debt. The Creditor agrees as part of this Agreement they shall be accepting the
    last payment for the satisfaction of the Present Debt, hereinafter known as the “Settlement
    Debt”. This Settlement Debt shall be in the amount of $____________________.

    Acceptance of the Settlement Debt shall immediately discharge all monies owed by the Debtor
    to the Creditor.

    IV. Payment. Payment for the Settlement Debt shall be made by ☐ - Check ☐ - Bank Wire ☐ -
    Certified Check ☐ - Cash ☐ - Other ______________________________________________.

    The Debtor shall make payment of the Settlement Debt Amount by ____________________,
    20___ or else this Agreement is void.

    Upon acceptance of payment, the Creditor shall discharge the Present Debt as paid-in-full.

    V. Creditor’s Duties. It is the duty of the Creditor to remove or delete any entries from the
    Debtor showing this account has been late or claims that could prove to be harmful on their
    credit report. All credit report entries must be removed.

    VI. Binding Effect. This Agreement shall be binding on all Parties involved including their
    successors or assignees.

    VII. Held Harmless. Except to dispute the terms of this Agreement, the Parties agree not to
    bring any claim against the other party concerning any matter related to the Present Debt.
    Creditor and Debtor understand that the authorization of this Agreement bars them from making
    any claim.

    VIII. Confidentiality. All Parties understand that all parts of this Agreement are to be kept
    confidential. If any portion of this Agreement were to be made public, the releasing party would
    be held responsible for any damages that were inflicted. Furthermore, the releasing party would
    be liable to all attorney’s fees of the violated party in responding to such release.

    Page 1 of 2
    IX. Modification. No modification to any provisions contained in this Agreement shall be binding
    upon any party unless made in writing and signed by both Creditor and Debtor.

    X. Severability. If any provision, part, or expression is held to be unenforceable for any reason,
    the remaining provisions, parts, or expressions of this Agreement shall remain in full force and
    effect.

    XI. Third (3rd) Parties. Both Creditor and Debtor agree that they have not assigned any portion
    of the Debt to another individual or entity. Furthermore, Creditor and Debtor each claim to have
    the authority to enter into this Agreement.

    XII. Governing Law. This Agreement shall be governed under the laws in the State of
    ___________________.

    Debtor’s Signature _____________________________ Date __________________

    Debtor’s Name _____________________________

    Creditor’s Signature _____________________________ Date __________________

    Debtor’s Name _____________________________

    Page 2 of 2

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