CONSIDERING that the debtor and the debtor intend to conclude an agreement for the remediation of these debts and a related payment plan, the parties have therefore decided to conclude this debt repayment agreement, hereinafter referred to as `the agreement`, including its recitals and annexes, which are contained therein and are indivisible. If you put yourself in debt, sending a debt settlement letter to creditors can work to reduce your debt, as is the case for many people who want to eliminate debt. See what you can do to get your finances and life back on track. AMOUNT OF THE STATEMENT. The creditor agrees to accept by the debtor a payment amount of [AMOUNT OF COMPENSATION-DOLLAR] ($[numerical amount in dollars]) as full repayment of the debt incurred to the creditor at the time of this Agreement, subject to the conditions set out in this Agreement. Payments are made according to the schedule set out in Appendix A (the « Settlement Payments »). Several pieces of information are needed to balance the text of this Agreement. At the beginning, we will consolidate the parties who intend to conclude this contract. First, we identify the creditor. That is, the party that holds the debt. Note the legal name of the creditor in the first space of the first paragraph. Next, document the creditor`s address with the second empty line.
Finally, for the third and fourth voids, the city and state associated with the creditor`s address must be indicated. Then we identify the debtor. It is the party who is required to pay the debt owed to the creditor. We need to document the same information that is reported about the creditor in the rest of this paragraph. Look for the fifth space in this paragraph, and then document the debtor`s full name.