The obligation to repay the debt is – simply put – a statement of the indebted person about the intention to settle the debt together with an indication of the date by which it will occur.
Such a document is often one of the steps that allows you to amicably solve the problem of past due debt. The creditor may expect the debtor to sign such an obligation. Is this worth agreeing to?
Yes, because in this way each of the parties can better protect their interests. In addition, in the event of a refusal, the entity to which we are in arrears with payment will be more willing to direct debt collection to court. In practice, this will mean for us:
And this will be a source of additional stress and costs for us. We, as debtors, are charged with them when an order for payment is issued against us with an enforceable title.
- Bailiff enforcement
The bailiff conducting debt collection activities may use coercive tools, e.g. seize our bank account, withdraw or even bid our assets.
We write a commitment to repay the debt
With the obligation to repay the debt will allow you to solve the problem amicably and step out of debt step by step.
You can prepare such a document yourself. It should include such elements as:
- date and place of preparation;
- details of the indebted person (name, surname, address, ID number, PESEL number);
- data related to debt – we will find them in letters from the creditor or debt collection company;
- a statement on how much our debt is for a specific day (this information will be obtained from the creditor / debt collection company or you will find in the correspondence received from them);
- declaration that we will pay them back within a specified period;
- legible signature.
Ready settlement proposed by the creditor
It is worth emphasizing that independent preparation and not commitment is not always necessary. If we are a customer of a debt collection company, all we have to do is sign the settlement it proposes. This is how Ultimo works, for example.
We will work out the terms of the commitment together with its adviser. We will specify how much installment we can pay each month.
The repayment schedule will be adjusted to our financial capabilities. However, the most important thing is that such an agreement will enable us to free ourselves step by step from debt – without stress and trouble.