Debt Payment Plan Agreement Letter

Adapt our free liability model to instantly generate a PDF version of the liability agreements. Sign them with legally binding e-signatures. AMOUNT OF COMPENSATION. The creditor undertakes to accept by the debtor the amount of the payment of [WRITTEN SETTLEMENT DOLLAR AMOUNT] dollar ([NUMERIC DOLLAR AMOUNT]) as a full repayment of unpaid debts to the creditor on the date of this agreement, subject to the terms of this agreement. Payments are made according to the Schedule A schedule (the “compensations”). CONSIDERING that the debtor is liable to the creditor for an amount equal to [AMOUNT DEBT DOLLAR] dollar (the “debt”) (the “debt”); and use a credit card/ACH authorization form to obtain the debtor`s payment details. Most creditors require automatic payments from the debtor that weigh on the debtor`s credit card or bank account for each payment period. The parties herein agree to the payment plan for the indication of its contents in Schedule A, “the “payment plan”). The DEBTOR corresponds to the schedule set and pays the amount shown in the Payment Timeline table to the CREDITOR before or at maturity. This is because employees in key positions who have access to confidential information, such as a company`s business secrets, can inevitably be acquired by employees. In cases where the employee resigns, he or she somehow takes away the confidential information. A problem arises when a competitor can hire the employee and obtain the worker`s classified information, including the former employer`s clients and clients, giving the employee a lesser advantage.

Another consideration may be that the employee can start his own business, which may lead him to compete with the former employer, including the theft of customers who offer them a better offer, to the detriment of the former employer. A non-complete clause or agreement is a clause or agreement by which a party, usually a worker, refuses to create or create a similar business that could run against the employer and helps protect the employer from such incidents. This simple PDF competition exemption agreement guarantees any problems that may arise in the above cases.