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1 Fill in all of the data below to customize the document to your specific requirements.

2 Click "Create my Agreement" to view your document. You can go back and edit at any time.

3 Finalize your document, and then continue to download it in RTF, PDF or HTML Format directly to your computer.

Debt Assignment Agreement

Save Your Answers

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Save My Answers
Creditor Details(Person(s) owed the money):
Full Name:
Street Address:
City:
State:
Zip Code:

Current Debtor Details (Person(s) who currently has the debt):
Full Name:
Street Address:
City:
State:
Zip Code:

New Debtor Details (Person(s) taking on the debt):
Full Name:
Street Address:
City:
State:
Zip Code:

Attaching Promissory Note?

Current Debt Amount:
$


Anything else you wish to add to this notice?

Date You Will Sign This Notice:
Add Proof of Service To This Agreement:
Add Witnesses to the signing of this Agreement:


DEBT ASSIGNMENT AGREEMENT:

If you are looking to assign either your own debt, or a current debtors debt to another person then you need a contract to do that. That’s exactly what this is – a Debt Assignment Agreement.

If someone is taking on a currently assigned debt, then we have made it very easy to do that.

The first thing you do is put in the creditors details. That’s the person that actually lent the money. If there are multiple creditors then our form is set up to allow that too.

Then you put in the current debtor details. This is the person who HAS the debt but who will be passing it on to a new debtor. Again – multiple debtors? No problem.

Finally, there’s the new debtors entry field – and this is where you can put in the new people taking the debt. Or if for example the current debtor is adding another debtor – we’ve got it set up to allow multiple people again so you can do that.

If you have a promissory note – and you really should – outlining the details of the original debt then you can attach it to this debt assignment agreement if you wish. If you wish to do that then just hit “Yes” above under Attaching promissory note.

You can then list the current debt amount.

Finally, you can choose whether or not the debt payments are remaining as they were in the initial contract or promissory note, or if they are changing. If they are changing, be very clear as to what the changes are, what the new payment schedule etc is as there is no margin for error.

We’ve also got a box that states “Anything else you wish to add?”. If you choose that you can add anything you want, and it will show up on your completed agreement. That way our form is as flexible as possible for you.

The completed form itself you can see by clicking “Preview” and it will show all the details. It first discusses the assignment of the debt, the amount of it as you have already written and then outlines that it is being transferred to the new debtor.

It then talks about the repayment – and how that will be done. Whether or not it is changing, or staying in the same form as the original contract. This is where it will also list if the original contract or promissory note is attached.

The rest is the standard legal stuff – no modification allowed, binding effect etc.

It’s very easy to use and if you want to see a sample debt assignment agreement, spend a minute filling in the data above. When you click “Create My Agreement” it will then create the agreement with the data you’ve filled in, so you can see a template of what it looks like.