Free Agreement to Settle Disputed Account
This Agreement to Settle Disputed Account is between a creditor and a debtor who agrees to pay a certain amount on disputed account. This agreement sets out the names of both creditor and debtor, the amount creditor claims is due and the transaction for which the amount is owed. It also sets out the amount that debtor agrees to pay. This Agreement to Settle Disputed Account must be signed by both creditor and debtor.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
DISPUTED ACCOUNT SETTLEMENT AGREEMENT
This Disputed Account Settlement Agreement made on this ________________ day of ______________________, 20______ by and between _____________________________ of ____________________________________ (“Creditor”) and ______________________________ of ____________________________________ (“Debtor”).
Whereas, Creditor alleges to hold certain claim in the amount of $__________ against Debtor arising from the following transaction: ________________________________________________________
Whereas, Debtor disputes this claim, and disclaims that the said debt is due.
Whereas, the Debtor and Creditor hereby desire to resolve and forever settle and adjust the said claim.
Now, therefore, the Debtor and Creditor agree as follows: _________________________________
On or before __________________________, Debtor agrees to pay to Creditor and Creditor agrees to accept from Debtor, the sum of $___________________ in full payment, settlement, satisfaction, discharge and release of said claim and in release of any further claims thereto.
In consideration of this, the Creditor acknowledges that Creditor shall not file any adverse report against Debtor with any credit bureau.
This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.
This Agreement shall be governed by the laws of the state of _________________________.
Signed this _____ day of _______________________, 20_______.