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Debt Settlement Agreement Grason

The document summarizes a debt settlement agreement between EQGRANT LENDING CORPORATION and GRASON KINNY RAYPON. It states that Raypon owes a debt to the lender and both parties agree to a compromise payment of PHP[amount] to settle the debt in full. Upon receiving payment, the lender will provide documents showing the settled debt and both parties agree not to bring further claims related to the debt or disparage each other. The agreement outlines 14 terms for the settlement.

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Noel Basa
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99 views2 pages

Debt Settlement Agreement Grason

The document summarizes a debt settlement agreement between EQGRANT LENDING CORPORATION and GRASON KINNY RAYPON. It states that Raypon owes a debt to the lender and both parties agree to a compromise payment of PHP[amount] to settle the debt in full. Upon receiving payment, the lender will provide documents showing the settled debt and both parties agree not to bring further claims related to the debt or disparage each other. The agreement outlines 14 terms for the settlement.

Uploaded by

Noel Basa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DEBT SETTLEMENT COMPROMISE AGREEMENT

This Debt Settlement Agreement is entered into as of August 25, 2023 by and between:

EQGRANT LENDING CORPORATION, a lending corporation duly entered and existing


under and by virtue of laws of the Philippines with #6 2nd Floor, Gemced Building, Molino III,
Bacoor, Cavite represented here in by its representative, RAMIL ORTIZO, hereinafter referred to
as “CREDITOR”

-AND-

GRASON KINNY RAYPON, of legal age, married, Filipino and with residence and postal
address at 26A Sampaguita Street, Zenaida 2 Subd., Brgy. Sto. Niňo, Marikina City, hereinafter
referred to as the "DEBTOR".

Recitals:

WHEREAS, the Borrower owes a debt to the Lender in the amount of


_______________________________________, (Php _________________)

WHEREAS, the Parties desire to reach an amicable resolution with regards to the Debt and agree
to a compromise single payment arrangement.

The Creditor and Debtor are hereby individually referred to as “Party” and collectively “Parties”

The Creditor and the Debtor hereby agree to negotiate and settle the debt owed under the
following terms and conditions:

1. The Creditor and Debtor agree that the current outstanding debt is Php________________ ,
__________________________________________.All Parties agree that the Creditor will accept
a payment of Php_________________, ___________________________________ towards the
settlement of the debt in full on August 25, 2023. This compromised amount includes principal,
interest, and any applicable fees.

2. This Agreement for a settlement of debt owed shall be binding upon all Parties,
including the Debtor and Creditor, as well as their successors, heirs, and assigns.

3. Upon payment of the full debt obligation, the herein creditor will provide the debtor the following
documents:

a. Updated Statement of Account


b. Copies of Demand Letter and Notice of Dishonor
c. The dishonored issued checks
d. Notarized copy of Affidavit of Desistance received by the honorable court
e. Acknowledgment Receipt of Payment
d. Certification of Fulfilment debt obligation
4. The Parties agree that upon the Creditor's receipt of the payment described above, the debt is full
and forever settled. The Parties agree that there are no further claims between them of any
nature whatsoever from any and all liability or damages of any kind, known or unknown, in
contract or in tort, related to this debt.

5. All Parties agree that the other Parties are free from any liability or wrongdoing.
Any liability or wrongdoing is expressly denied. Furthermore, the Parties each agree that neither
Party shall disparage the other to any third party at any time.

6. The Parties agree that the terms of this Agreement are the result of negotiations between the
Parties and constitute a final accord and satisfaction concerning all disputes between them
related to the outstanding debt described by this Agreement.

7. All settlement terms described herein are dependent upon the Creditor receiving
from the debtor the final payment of Php_____________, ______________________________.

8. The Parties agree not to bring any claim of any kind against the other Party to this Agreement
concerning any matter released by this Agreement, except for any suits necessary to enforce the
terms of this Agreement. Each Party further agrees that this Agreement constitutes a bar to any
such future claims.

9. The Parties agree that the terms and conditions of this Agreement shall remain confidential and
that no Party shall release any part of this Agreement unless the Agreement is subpoenaed or to
their own accountants or legal counsel.

10. This Agreement constitutes a single, integrated written contract expressing the entire agreement
of the Parties to this Agreement. Any other agreements, discussions, promises, and
representations have been and are integrated into and superseded by this Agreement.

11. No modifications to any provisions contained in this Agreement shall be binding upon any Party
unless made in writing and signed by all concerned Parties.

12. If any provision of this Agreement is held to be unenforceable for any reason,
the remaining parts of the Agreement shall remain in full force and effect.

13. Each Party affirms and swears that they have not assigned any portion of the claims released under
this Agreement to any third party.

14. Each Party represents that they have the express authority to enter into this Agreement on behalf
of themselves or their respective organizations.

IN WITNESS WHEREOF, the Parties have executed this Debt Settlement Agreement.

________________________________ ________________________________
GRASON KINNY RAYPON RAMIL ORTIZO

__________________ __________________
Witness Witness

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