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What are the requirements of an AOD? In addition to a clear and undeniable admission of liability (IOU), the agreement should contain the payment terms, a bdocHub clause, and the signatures of both the creditor and the debtor.
An acknowledgment of debt is a written document signed by a debtor acknowledging or accepting his or her indebtedness to the Creditor, the amount owing and the terms of paying the debt owed.
Very simply, an acknowledgment of debt (AOD) is a written agreement between a debtor and a creditor in terms of which the debtor agrees that he is unequivocally liable to the creditor for a sum of money.
I/We, the undersigned, Name of Debtor, address of debtor (hereinafter referred to as the Debtor/s) do hereby acknowledge myself/ourselves to be truly indebted unto and in favour of Name of Creditor, address of Creditor (hereinafter referred to as the Creditor), its successors in title or assigns, in the sum of R 337
I/We, the undersigned, Name of Debtor, address of debtor (hereinafter referred to as the Debtor/s) do hereby acknowledge myself/ourselves to be truly indebted unto and in favour of Name of Creditor, address of Creditor (hereinafter referred to as the Creditor), its successors in title or assigns, in the sum of R 337
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Making a payment: Making a payment on an old debt, whether in full or part, revives it, essentially restarting the clock on old debt. Agreeing to pay: If you acknowledge that the debt is yours and agree to pay, the statute of limitations on your debt will start over.
If youre not sure that the debt is yours, write the debt collector and dispute the debt or ask for more information. If the debt is yours, dont worry. Decide on the total amount you are willing to pay to settle the entire debt and negotiate with the debt collector for the rest to be forgiven.
I, hereby confirms and acknowledges to (creditor ) that the undersigned is indebted to the creditor in the amount of as of date hereof which amount is due owing includes all accrued interest and other permitted charges to date.

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