ACKNOWLEDGMENT OF DEBT
KNOW ALL MEN BY THESE PRESENTS:
I, (NAME OF DEBTOR), of legal age, Filipino, single/married, and with residence at (Place of Residence), hereby depose and state:
I am indebted to (NAME OF CREDITOR), of legal age, Filipino, single/married and with residence at (Place of Residence), in the amount of (AMOUNT IN WORDS) PESOS (Amount in Figures), Philippine Currency.
I shall pay the above-mentioned amount unto the said (NAME OF CREDITOR) within a period of three (3) months from the date of this contract with interest of TWO PERCENT (2%) per month. I shall pay the principal amount of (Amount in Figures) on the 90th day, counted from the date of this contract. I will likewise pay him the monthly interest on the 30th, 60th, and 90th days respectively, counted from the date of this contract.
I will give (NAME OF CREDITOR) four (4) post-dated check covering the principal amount and the three (3) monthly interest payments referred to in the preceding paragraph upon the execution of this contract.
IN WITNESS WHEREOF, I have affixed my signature hereto this (Date) at (Place), Philippines.
(NAME OF DEBTOR)
Debtor
Witnesses: ______________________ ______________________
SUBSCRIBED AND SWORN to before me this (Date), affiant exhibiting to me his (ID details), a government-issued identification card bearing his signature and photograph.
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.
