This fill in the blank Debt Settlement & Release contains the language that is necessary to settle a debt for a lower amount than is due and includes language that will improve Debtor’s credit reporting once this matter is resolved. This frequently happens when a Creditor is willing to settle a Debtor’s outstanding debt, usually because of long periods of non-payment.
Signing this Debt Settlement & Release agreement discharges all claims between the parties, not just the one specific claim. If there is a possibility that you wish to pursue other claims against the other party, modify the Agreement accordingly and consider consulting an attorney for their advice prior to signing this Agreement.
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