Common Contracts
1 similar null contracts
How do i write a debt settlement agreementAugust 8th, 2021
Image Source: This article is written by Muskaan Aggarwal who is pursuing a Diploma in Advanced Contract Drafting, Negotiation and Dispute Resolution from LawSikho. Introduction Lending someone money, irrespective of them being a corporate entity, an individual, or any other entity capable of taking a loan, is always filled with risks. In spite of doing everything in your power to minimise the risk factor, there is never a guarantee that the entire amount would be returned. This is because the external factor attached to the entity or the individual, complements the risk involved, and hence, does not make the task easy for the creditor. Often is the case that the loan amount given becomes difficult to recover, and it becomes important to explore ways to regain the loan amount from the debtor, in a timely manner. This is where the concept of ‘Debt Settlement’ is used by creditors, and hence, a debt settlement agreement is often executed. This article aims to understand the concept of de
