Release of Debt for Less

Release of Debt for Less

Terminate your promissory note and settle a debt for less than is owed.  To avoid future disputes over payment, use this simple release. All the instructions you need to fill out the form are included, so that you can:

  • identify the promissory note that will be terminated
  • release each party from any claims relating to the note
  • terminate the note

You can save and edit the form before you buy--just create a Nolo.com account. It's easy, free, and there's no obligation to buy anything. If you purchase the form, you'll be able to print, send, or download it.

See below for a full product description.

Loading your form ...

1-Year Subscription

Price: $29.99

Settle a debt for less than is owed and avoid disputes over payment with this release

Usually, when someone borrows money from another person, the obligation to repay the money is reflected in a promissory note. But when you agree to settle the debt for less than the amount in the note, you need to sign a release to terminate the note to avoid the possibility of future disputes. Use this legal form to cancel the promissory note and settle the debt once and for all.  All the instructions you need to fill out the form are included, so that you can:

  • identify the promissory note that will be terminated
  • release each party from any claims relating to the note
  • guarantee that the release is made voluntarily
  • record the payment amount
  • terminate the note

You'll get all the information you need to fill out the form, plus directions for signing and notarization -- and essential tips for what to do with the promissory note once the debt is settled.

Additional Technical Support FAQs

In order for the Online Interactive Form to work properly, it is best to use:

Windows

  • Chrome, Firefox, IE 8 or higher
  • Adobe Reader 9 or higher
  • JavaScript must be enabled

Macintosh OS X

  • Safari, Chrome, or Firefox
  • Adobe Reader 9 or higher, or Preview
  • JavaScript must be enabled

Customers Who Bought This Item Also Bought