Acknowledgment of debt

Description

When you have a claim against a person, it is strongly advised to ask the person to whom you loaned money to write to you by hand, to date you and to sign a debt acknowledgment. . The debt acknowledgment must mention the amount of the loan of money in figures and letters as well as the commitment made by your debtor to repay you the sum lent. A fully written debt acknowledgment from the hands of the borrower is analyzed into a loan of money. It allows to note the existence of a loan of money. It has probative value in the eyes of the judges.