debt acknowledgement template

Below is a template for debt acknowledgment, you can use this for documenting the debts of people who owe you money.


I, [Debtor] the undersigned, born [birth date], of legal age, residing at [address], who is married to [name of spouse if any, omit if not applicable], and [son/daughter] of [name of parents], hereby confirm and acknowledge to the following creditor [name of creditor] that I am indebted to said Creditor, in the amount of [amount in words and numerals] as of the below mentioned date. The indebted amount were incurred from [reason of debt and date of occurrence]

I furthermore acknowledge that I have no argument with said debts which were incurred by myself, and for which I am solely responsible. This also means that I acknowledge that there are no defenses should said creditor decide to use this document in a court of law as a confession to judgment – where legally permissible.

I have agreed to pay off the entire amount indebted by [date].  [Optional: If I cannot pay the entire amount, I will negotiate a payment plan with Creditor within 15 calendar days from date below.]  I understand that failure to comply with the above condition shall be grounds for Creditor to take necessary lawful action.  I understand that this document may be tendered in legal proceedings as evidence.

Signed on this [  ] day, of the month [  ], in the year [  ].

[Debtor’s Name and Signature]

[Creditor’s Name and Signature]

[Witness name and Signature]

personalized credit card image

Source: WikipediaMetrobank Card, a personal finance company, which is 60 percent owned by Metropolitan Bank and Trust Company and 40 percent owned by the Australia New Zealand Banking Group (ANZ), has launched its credit card image personalization service.

The service is called DesignMyCard. Personalization is done online by visiting New card holders and existing card holders can use the service. The website has a few photos for use but users can upload their own design. Photo uploads must follow the image guidelines for it to be approved for printing.

It costs PHP450.00 (USD10.71) to personalize each credit card. Fees are billed to the principal card holder’s statement.

This service is similar to the service offered by ANZ’s New Zealand subsidiaries, ANZ New Zealand and The National Bank of New Zealand. The only difference is that in New Zealand only the ATM cards are personalized. You can visit the personalization services here and here.

Being a Metrobank credit card client, I would want to also personalize my two cards but as of now I don’t have the perfect photo or image for my cards.

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Money Smarts » Demystifying finance charge computations on your credit card

Source: WikipediaMoney Smarts » Demystifying finance charge computations on your credit card

I must mention this blog post I read a few weeks back at the Money Smarts blog at

It gives you an idea how the credit card interest rate clause of “3.5 per cent per month on the average daily balance” works.

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