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    Agreement of Debt

    Uploaded by

    John Monrose
    This document is an agreement of debt between a creditor and debtor. It acknowledges that the debtor owes a sum of money plus interest to the creditor. The debtor agrees to repay the outstanding amount either through installments over a set number of months or in a lump sum by a specified date. If the debtor fails to make payments on time, the creditor can demand payment of the full amount plus costs, or apply for a court judgment against the debtor. Any changes to the agreement must be in writing and signed by both parties.

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

    Agreement of Debt

    Uploaded by

    John Monrose
    110 views3 pages
    This document is an agreement of debt between a creditor and debtor. It acknowledges that the debtor owes a sum of money plus interest to the creditor. The debtor agrees to repay the outstanding amount either through installments over a set number of months or in a lump sum by a specified date. If the debtor fails to make payments on time, the creditor can demand payment of the full amount plus costs, or apply for a court judgment against the debtor. Any changes to the agreement must be in writing and signed by both parties.

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    Agreement of Debt

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    This document is an agreement of debt between a creditor and debtor. It acknowledges that the debtor owes a sum of money plus interest to the creditor. The debtor agrees to repay the outstanding amount either through installments over a set number of months or in a lump sum by a specified date. If the debtor fails to make payments on time, the creditor can demand payment of the full amount plus costs, or apply for a court judgment against the debtor. Any changes to the agreement must be in writing and signed by both parties.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    110 views3 pages

    Agreement of Debt

    Uploaded by

    John Monrose
    This document is an agreement of debt between a creditor and debtor. It acknowledges that the debtor owes a sum of money plus interest to the creditor. The debtor agrees to repay the outstanding amount either through installments over a set number of months or in a lump sum by a specified date. If the debtor fails to make payments on time, the creditor can demand payment of the full amount plus costs, or apply for a court judgment against the debtor. Any changes to the agreement must be in writing and signed by both parties.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    AGREEMENT OF DEBT

    ENTERED INTO BETWEEN:

    ________________________
    (the “creditor”);
    AND

    ________________________
    (the “debtor”) of

    ________________________________________________________
    (the address the debtor chooses as his/her domicilium citandi et executandi).

    1. The facts causing the debt are:


    ________________________________________________________________
    ________________________________________________________________
    ________________________________________________________________
    ________________________________________________________________
    ________________________________________________________________

    2. The debtor acknowledges and agrees indebtedness to the creditor in the sum of
    TT$ ________________________ plus interest at a rate of 0% per annum a
    tempora morae (the “outstanding amount”).

    3. The debtor agrees to pay the outstanding amount [select either “in TT$ 2000
    instalments over ___ months” or “in lump sum by ________”]:
    ________________________________________________________________
    ________________________________________________________________

    4. The payment/s must be paid directly to the creditor into the following bank
    account:
    Account name :
    Bank :
    Account type :
    Account number :

    5. Should the debtor fail to make payment on the due date/s, the creditor shall
    demand the outstanding amount from the debtor together with legal costs; failing
    which the creditor, without notice, shall be entitled to apply to the relevant
    Magistrate’s Court for judgement against the debtor for the outstanding amount
    including legal costs – the debtor agrees to judgement in this regard.

    6. No variation in terms of this agreement, novation, or cancellation by mutual


    consent shall be of any force or effect unless reduced to writing and signed by
    both the creditor and debtor.
    7. Signed at____________________________on____________________20___.

    ___________________ ___________________
    Creditor Witness:

    ___________________ ___________________
    Debtor Witness:

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