What is the point of a debt write-off?

An acknowledgement of debt is a writing in which a person, called debtor, undertakes to pay a sum of money to another person, called creditor.

In the event of a conflict with the debtor, the acknowledgement of debt shall constitute a guarantee for the creditor where it contains the following information:

• Date and signature of debtor
• Name, forename, address, date and place of birth of debtor and creditor
• Amount of the sum lent, indicated in figures and letters (in case of difference between the 2 amounts, only the sum written in full is taken into account)
• Date on which the payment of the debt will be due
• If provided, indication of the interest rate (not to exceed wear rate)

It can be made in the form of a authentic instrument by a notary or in the form privately signed document.

In the latter case, the following document template can be used:

Model for recognizing debts or loans between individuals

There is no maximum amount of debt that can't be exceeded.