Please find the contract of agreement compromise debt below

This deed is made the _______day of _______________19_______________

Between:

(1)___________ of __________ ( the “Customer”) and
(2)___________ of __________ ( the “Creditor”)

WHEREAS
(A) The Customer and the creditor acknowledge that the customer is indebted to the creditor in the sum of £____________ ( the “Debt”) which sum is now due and payable.
(B) The creditor agrees to for go payment of part of the debt.

NOW THIS DEED WITNESSES as follows:

1.The parties agreethat the creditor shall accept £_______(the “sum”) in full and final settlement of the debt and in complete discharge and satisfaction of all monies due, provided the sum is punctually paid as follows: ___________________________________________________________ _________________________________________________________

2. Should the customer fail to pay the sum on the terms set out in paragraph 1, the creditor shall have full rights to prosecute its claim for the full total of the debt, less any payments made.

3. Upon default, the customer agrees to pay all reasonable solicitor collection.

4. This agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns.

IN WITNESS OF WHICH the parties have executed this deed the day and year first above written

(Individual)_______________________

Signed by the customer

________________________

In the presence of (witness)

_________________________________

Address

_________________________________

_________________________________

Occupation

_________________________________

Signed by the creditor

_________________________________

In the presence of (witness)

_________________________________

Name

_________________________________

Address

_________________________________

_________________________________

Occupation

_________________________________

(Company)

Signed for and on behalf of:

___________________________Ltd

______________________________

Director

______________________________

Director/Secretary

___________________________Ltd

______________________________

Director

______________________________

Director/Secretary

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