In addition, the employee understands and accepts that the terms of the confidentiality agreement signed by the employee survive any termination of the employee`s employment with the employer, as described here, and the employee undertakes to fully respect the terms of that confidentiality agreement. The staff member will not pass on the content of this compromise agreement to third parties. What is a compromise agreement? A compromise agreement is a document involving an employer and a worker that determines the responsibilities and outcomes of the worker`s separation or separation from the employer and must be developed according to specific legal guidelines. With the exception of the obligations arising from the employment contract and any other agreement between the employer and the worker which, by its nature, continues to apply by its nature, this agreement constitutes the whole agreement between the parties and replaces all agreements, agreements, guarantees, obligations and prior discussions between the parties, written or oral. The debt settlement contract is a contract between a creditor and a debtor to renegotiate or compromise a debt. This is usually the case when a person intends to make a final payment for a debt owed. The debtor proposes a payment less than the outstanding (usually between 50% and 70%) if payment can be made immediately. (name of credit/collection office) and (name of debtor) both parties agree that the outstanding receivables are “O.” In addition, the parties accept that (name of creditor/collection agency) accept an amount of “O” and consider it a full payment. Acceptance of the payment is considered to be a complete relief of all invoices due and (name of creditor/collection office) will not make a new step in the recovery of the alleged debt. Payment is made as soon as the agreement is reached and either in the cash register or in the order of payment. The letter should indicate facts and not be a place where the debtor complains about his difficulties and keeps complaining about his problems. Once the payment has been made, no further action will be taken by your party to recover the alleged claim.

I will make the full payment with a cash cheque within five days of signing this contract. I understand that if the payment is not made according to the agreed time, this agreement is null and void and the total amount I owe will be due. Once I have made the agreed payment, you will delete all negative information about my credit report and, in the future, you will not place any negative information on my credit report regarding this debt. Please sign the provided copy of this debt compensation letter and send it back to me. Thank you for your kind consideration on this. If you have any questions, I can contact the phone number or email address. During the letter, the borrower must remember that the lender has the right to accept or refuse a reduction in the debt and to accept a lower amount. Most creditors are happy to get a payment rather than no payment. The best way to reduce the amount they have to pay is to send their creditors a letter of debt repayment. The letter should clearly state the difficulties that prompted the debtor not to pay his debts.