Deed Of Acknowledgment Of Debt
Dear [CREDITOR'S NAME],
I am writing to formally acknowledge that I owe you the sum of [$AMOUNT] as of [DATE OF DEBT]. This debt was incurred due to [BRIEF DESCRIPTION OF HOW THE DEBT AROSE] and I fully recognize my obligation to repay this amount.
Acknowledged Debt Details:
Principal Amount Owed: [$AMOUNT]
Date Debt Incurred: [DATE OF DEBT]
Cause of Debt: [DESCRIPTION OF HOW THE DEBT AROSE]
I am committed to settling this debt under the following terms:
Total Amount Due: [$AMOUNT]
Payment Schedule: I agree to pay the total amount in [NUMBER OF INSTALLMENTS] installments of [$INSTALLMENT AMOUNT] each, beginning on [START DATE], and continuing monthly until the full amount is paid.
Method of Payment: Payments will be made via [METHOD OF PAYMENT].
Furthermore, I understand that interest will accrue on any unpaid balance at an annual rate of [INTEREST RATE]%, and in the event of any default on my payments, the entire remaining balance will become immediately due and payable.
This acknowledgment of debt is made in good faith and I affirm my intention to fulfill this obligation according to the terms laid out in this deed. This document serves as my commitment to you to repay the debt in the manner specified.
Should you require any further information or wish to discuss this matter further, please do not hesitate to contact me at [YOUR CONTACT INFORMATION].
Sincerely,
[YOUR NAME]
[DATE]
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