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.
There are local credit counseling services and financial advisors who can help you navigate the waters of making a debt agreement. It’s like having a trusty navigator on your ship to guide you through stormy seas!
If you don’t stick to the agreement, your creditors might be unhappy — and that could lead to them trying to collect the full amount or even taking legal action. It’s like making a promise and then backing out; you don’t want to lose their trust.
Yes, it can. When you make a debt agreement, it might ding your credit score a bit, but it's often better than ignoring your debts completely. Think of it like a small bump in the road on your journey to financial health.
Most unsecured debts like credit card bills, personal loans, and medical bills can be included. However, things like mortgages and student loans usually don’t make the cut.
Absolutely! You can roll up your sleeves and talk directly with your creditors. Just remember to keep your cool and be clear about what you can realistically afford.
In a nutshell, you and your creditors agree on a new payment plan or a reduced amount to settle your debts. It’s a bit like striking a bargain at a yard sale — both sides need to be happy with the deal.
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