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UNDERTAKING TO PAY DEBTS TO: LENDER REFERENCE NUMBER MORTGAGOR(S): PROPERTY ADDRESS: In Consideration of and notwithstanding the closing of the above noted transaction, I hereby undertake as follows:
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How to fill out undertaking to pay debts

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How to fill out an undertaking to pay debts:

01
Start by including your full name and contact information at the top of the document.
02
Next, provide the name and contact information of the person or entity you owe the debts to.
03
Clearly state the purpose of the undertaking, which is to acknowledge the outstanding debts and commit to paying them off.
04
List the specific debts you owe, including the amount owed, the date of the debt, and any relevant reference numbers.
05
Provide a detailed plan for repayment, including the proposed timeline and method of payment.
06
Include a statement affirming your understanding that failing to fulfill the terms of the undertaking may result in legal consequences.
07
Sign and date the document at the bottom, and consider having it witnessed or notarized for added validity.

Who needs an undertaking to pay debts:

01
Individuals who have accumulated debts and wish to formalize their commitment to repay them.
02
Businesses or companies that have outstanding debts to creditors or suppliers.
03
Any party involved in a legal dispute relating to debts may be required to provide an undertaking as part of a settlement agreement or court order.
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Undertaking to pay debts is a legal document where a person or entity agrees to pay off debts owed by another party if that party is unable to pay.
The party who owes the debt is required to file the undertaking to pay debts.
Undertaking to pay debts must be filled out with accurate information regarding the parties involved, the amount of debt, and the terms of repayment.
The purpose of undertaking to pay debts is to ensure that debts are paid off in case the original debtor is unable to fulfill their obligations.
Information such as the names of the parties involved, the amount of debt, the terms of repayment, and the date of agreement must be reported on undertaking to pay debts.
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MORTGAGOR LENDER UNDERTAKING Barrister Solicitor notwithstanding undertake instruct proceeds

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