An Affidavit of Debt is a fundamental legal document in Philippine debt collection practices, used when formal documentation of a debt obligation is required for legal or administrative purposes. This sworn statement, executed under Philippine law, serves as prima facie evidence of the debt's existence and terms. The document is commonly used in court proceedings, debt collection efforts, or when transferring debt obligations. When drafting an Affidavit of Debt, it must comply with the Philippines' Rules of Court and notarial requirements, including proper verification and notarization. The document typically becomes necessary when pursuing legal action for debt collection, supporting bankruptcy claims, or documenting debt for business records. It must include comprehensive details about the debt's origin, payment history, and current status, supported by relevant documentation.
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1. Title and Venue: Specifies 'AFFIDAVIT OF DEBT' and the jurisdiction where the affidavit is being executed
2. Affiant Information: Full name, age, citizenship, civil status, and complete address of the person making the sworn statement
3. Competency Declaration: Statement affirming the affiant's legal capacity to execute the affidavit
4. Debtor Information: Complete identification details of the debtor including full name, last known address, and any relevant identification numbers
5. Debt Details: Specific information about the debt including original amount, date incurred, purpose, and current balance
6. Payment History: Chronological account of payments made and missed payments
7. Current Status: Statement of the current outstanding balance and status of the debt
8. Supporting Documents: List and description of attached documents proving the debt
9. Verification: Statement affirming that the contents are true and correct of affiant's own personal knowledge
10. Jurat: Formal closing section for notarization including date, place, and notary details
1. Interest Calculation: Detailed breakdown of interest calculations when applicable to the debt
2. Demand History: Record of formal demands made to the debtor, used when previous collection attempts have been made
3. Third-Party Authorization: Required when the affiant is acting on behalf of a company or another individual
4. Account Assignment History: Required when the debt has been assigned or transferred between creditors
5. Bankruptcy Declaration: Statement regarding any known bankruptcy proceedings of the debtor, included when relevant
1. Schedule A - Debt Calculation Sheet: Detailed breakdown of principal, interest, penalties, and other charges
2. Schedule B - Payment Records: Chronological list of all payments received with dates and amounts
3. Schedule C - Supporting Documents: Copies of relevant documents such as promissory notes, contracts, or credit agreements
4. Schedule D - Demand Letters: Copies of formal demand letters sent to the debtor
5. Schedule E - Proof of Identity: Copies of affiant's identification documents and authority to execute the affidavit
Relevant legal definitions
Affiant
Principal Amount
Interest Rate
Default Interest
Due Date
Maturity Date
Outstanding Balance
Default
Payment Terms
Security
Collateral
Demand Notice
Original Creditor
Supporting Documents
Payment History
Default Date
Collection Charges
Late Payment Penalties
Legal Fees
Promissory Note
Credit Agreement
Statement of Account
Loan Agreement
Collection Agent
Authorized Representative
Principal Amount
Interest Rate
Default Interest
Due Date
Maturity Date
Outstanding Balance
Default
Payment Terms
Security
Collateral
Demand Notice
Original Creditor
Supporting Documents
Payment History
Default Date
Collection Charges
Late Payment Penalties
Legal Fees
Promissory Note
Credit Agreement
Statement of Account
Loan Agreement
Collection Agent
Authorized Representative
Clauses
Relevant Industries
Banking and Financial Services
Retail
Real Estate
Commercial Lending
Manufacturing
Construction
Professional Services
Healthcare
Education
Telecommunications
Relevant Teams
Legal
Finance
Credit Control
Collections
Accounts Receivable
Risk Management
Compliance
Treasury
Corporate Secretariat
Administrative
Relevant Roles
Credit Manager
Collections Officer
Legal Counsel
Accounts Receivable Manager
Finance Director
Corporate Secretary
Debt Recovery Specialist
Risk Manager
Credit Controller
Financial Controller
Compliance Officer
Legal Administrator
Banking Officer
Treasury Manager
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