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.
A Debt Compromise Agreement is used when there is an existing debt between two parties, and they wish to compromise how the remainder of said debt should be paid.
The compromise can be a new, lesser payment method. It could include items for trade, services or various other options. Our Debt Compromise Agreement Form is set up to allow you to customize it as much as you want.
Our form is set up to allow you to create a debt compromise agreement very easy, with all of the details that you need.
First of all, you must enter the details of the creditor. That’s the name and address of the person that has lent the money, also known as the lender. Our form is set up to allow you to insert two creditors if there are multiple creditors.
Next, you must enter the debtor details in the form above. This is the person who borrowed the money, known as the borrower. Again, our form is set up to allow you to list multiple lenders or debtors. You can put in their name and address.
Now we get to the juicy part – the section where we talk about the purpose of this agreement: the compromise. First you may wish to attach the original promissory note, detailing the debt and the initial loan agreement. To do that, just click “Yes” beside “Attaching Promissory Note”. Then you must list the current debt amount that is currently still owed.
Next, we choose the repayment option. You can choose a new dollar amount, or if there is going to be repayment in the form of a trade, or if repayment is to be made via services offered by the debtor. Finally we have the “Other Method” option which is a catch all section to allow you to enter anything you like.
Next you must provide details as to how the debt repayment will be made. You should also list any pertinent dates in there as well for full transparency.
If you wish to add additional notes to the document you may do so at the bottom.
If you’ve came here looking for a Debt Compromise Agreement Template then you can see a blank template of what it will look like by clicking “Create My Agreement”. That button just up above this writing will create a blank Debt Compromise Agreement so you can see EXACTLY what it looks like.
You can also take a few seconds and fill in dummy data so you can get an example or sample of what the agreement will look like.
When you have filled in the data you will be able to access it with Microsoft Word or other Word Processors, Adobe Acrobat or any web browser. We offer our downloadable debt compromise agreement in three separate formats which are RTF, PDF and HTML.