Here is a sample template you can you to write a debt cancellation agreement letter.
This is to notify the compromise of debt according to the terms and conditions set out in the attached agreement. The debt cancellation between [lender] and [borrower] has been made in terms of the payment conditions listed out in the attached agreement.
The outstanding debt amount was cleared on [date] The [creditor] declares of not making additional debt with the [borrower]. The cancellation took place in mutual interest and all outstanding payments have been cleared with respect to the debt cancellation plan.
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