Affidavit of Debt Settlement

An Affidavit of Debt Settlement is a sworn statement made by a creditor or debt collector, attesting to the fact that a specific debt owed by a debtor has been settled and satisfied in full, pursuant to a settlement agreement or other negotiated arrangement. The affidavit typically includes details about the parties, the debt, the settlement amount and terms, and any other relevant facts or circumstances. The affidavit may also include a statement that the creditor or collector has released any liens, judgments, or other claims against the debtor, and that the debtor has been fully discharged from any further liability for the debt. The purpose of an Affidavit of Debt Settlement is to provide legal evidence of the settlement and to protect the debtor from any future collection efforts or disputes related to the debt. The affidavit may be required by a court, a credit reporting agency, or another third party, and may be used to update the debtor’s credit report or to resolve any outstanding legal issues. The affidavit should be signed and sworn before a notary public or other authorized official, and should be maintained and provided in compliance with applicable laws and regulations.