Debt assignment agreements

Written by justin t. rush | 13/05/2017
Debt assignment agreements
Your current debts can be assigned to someone else. (signing a contract image by William Berry from

If you have a debt you are unable to pay off, you can receive help from an outside party to absolve the debt. Debt assignment agreements allow you to sign the debt to someone else and receive relief.


If you are the person trying to allocate the debt to someone else, then you are the assigner. You are the person that is initiating the transfer of the debt, and will be completely released from your obligation of the debt. Before your debt can be assigned, you must receive approval to construct the agreement from the entity to which you are indebted.


If you are the person that is willing to take on the debt, you are the assignee. Once the debt assignment agreement has been constructed, the debt is now yours, and you have a legal obligation to absolve it. Failure to do so could lead to litigation.


Fully constructed debt assignment agreements appear online, which require that you simply input your information, as well as that of the assignees and debtors. If you choose to construct your own agreement, however, you must provide the terms of the your current agreement, state that you are allocating the debt, have your debtor review it and have all parties sign the agreement.

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