Credit Card Debt Settlement Agreement Template for India

1. Third-Party Authorization: Required when a debt settlement agency or other third party is authorized to act on behalf of the debtor

2. Credit Reporting: Specifies how the settlement will be reported to credit bureaus, if agreed upon

3. Tax Implications: Includes when there's a need to address tax consequences of the debt settlement

4. Insurance Requirements: Required when payment protection insurance or other insurance is part of the settlement arrangement

5. Electronic Communication Consent: Required when parties agree to receive notices and communications electronically

6. Force Majeure: Optional clause for circumstances preventing payment due to unforeseen events

7. Assignment: Required when either party needs the right to assign the agreement to another entity

1. Schedule A - Debt Details: Detailed breakdown of the original debt, including principal, interest, fees, and charges

2. Schedule B - Payment Schedule: Detailed payment plan including dates, amounts, and payment methods

3. Schedule C - Settlement Calculations: Calculations showing the settlement amount and the percentage of debt being forgiven

4. Appendix 1 - Required Documents: List of documents provided by debtor to support settlement application

5. Appendix 2 - Bank Account Details: Banking information for payment processing

6. Appendix 3 - Communication Protocol: Agreed procedures for notices and communications between parties