Can I turn debt into a contract?

Someone owes me close to $5,500. Can I prepare a contract establishing his acknowledgement of this debt and have it signed by the person so that he will comply with the stipulations in the contract and repay the debt in full within 180 days. Is there anything that I shouldn't mention in the agreement? Can I use that contract to sue him if he fails to pay off the amount within the deadline?
1 Answers

Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions.Learn more »

  • expertise badge
  • TrustLink logoTrustLink logo
  • Customer ratings on BBB
  • IAPDA logo
  • Calchamber Member
  • Calbar Registered
  • D&B
  • Trustpilot
  • yelp logo