ADMISSION of debt, better known as an acknowledgement of debt (AOD), is when you admit that you owe someone money and undertake to pay the amount. The agreement will stipulate the repayment with certain terms and conditions. Before you sign, you must understand how it works. These five facts can help you..
1 WHO CAN CREATE SUCH AN AGREEMENT AND WHEN?
An AOD can be created any time if you’ve missed payments. It doesn’t have to be with a