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Convert Debt Settlement Agreement Template

Convert Debt Settlement Agreement Template

Aug 6th, 2022

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How to Convert Debt Settlement Agreement Template

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37 votes

A debt settlement agreement is used to formalize the renegotiation between a debtor and a creditor, often resulting in a reduction or elimination of the original debt. This agreement enables the creditor to forgive part of the debt, releasing the debtor from any remaining obligations. Typically, this forgiveness occurs after the debtor makes the final payment following the agreement's execution. Additionally, the creditor must release the debtor from obligations under the original contract and relinquish the right to pursue any collection actions related to that contract.

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