This form is a debt agreement pursuant to a loan.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
While negotiating, creditors might still reach out to you. It's important to keep communication open and let them know you’re working on a solution. Just remember, you're not in this boat alone!
Most debt agreements last between three to five years, depending on how much you owe and the terms you negotiate. It's a bit of a long haul, but it'll help you clear your debts in the end.
Yes, entering a debt agreement can impact your credit score, usually not in a good way. It's like a blip on the radar, but the goal is to get back on track and rebuild your score over time.
The upside is that you can wipe the slate clean faster and often for a smaller amount than your original debt. Plus, it can give you some breathing room and help you avoid bankruptcy.
The process typically involves negotiating with your creditors to come to a settlement. You'll start by assessing your financial situation, and then work toward a payment plan that suits your needs and their goals.
Anyone struggling with unsecured debts, like credit cards or personal loans, might qualify for a debt agreement. If you're feeling pinched by your finances, this could be a lifeline.
Trusted and secure by over 3 million people of the world’s leading companies