Detailed Deed of Acknowledgement of Debt

Click the Start button to see a completed example of this document. Have some fun answering the questions while you're there - it won't lock you into purchasing the document if you don't want to...

About this document

This is a detailed document and should be used in circumstances where:

1. A sizeable amount of money is being lent; and

2. Interest is being charged (including penalty interest); and

3. You are also given the option to include a Guarantor.

What this Document provides

1. Is to acknowledge that a debt is owing from one party to another; and

2. details when the Lender requires repayment of the debt from the Borrower; and

3. Details whether or not interest is charged on the amount of the loan and if so, the interest rate and when interest is to be paid;

4. provides "Disclosure" of the relevant terms and costs to the Borrower, as required by the Credit Contract and Consumer Finance Act 2003, when interest is to be paid by the Borrower on the Amount of the Loan.

Before you begin

Before getting started, you will need the following information:

1. The full name/s of the Borrower/s;

2.  The Address/Addresses of the Borrower/s;

3.  The exact Amount of money that is being lent;

4.  If Interest is being charged on the Loan, the interest rate; the total interest that will be paid to you by the Borrower on completion of the Term of the Loan and when and how the interest is to be paid to you;

5.  The Default Interest rate that you want to be entitled to charge, should the Borrower default in repayment, or breaches one or more of the terms of this Document.

6.  The Term of the Loan (i.e. how long the Borrower has to complete repayment in full of both the Principal Sum and, if charged, the interest);

7.  How the Loan is to be repaid; i.e. by weekly/fortnightly/monthly instalments of both the Principal Sum and the Interest (if charged), or in one lump sum at the end of the Term of the Loan.

8.  Whether the Borrower is entitled to repay the entire Loan or larger instalments of the Loan before the Loan is required to be repaid in full.

9.  Whether you want to charge the Borrower who repays the Loan in full before the Due Date, an amount to compensate yourself for the interest you would have earned had the Loan not been repaid in full until the Due Date.

10.  Whether you require our a Guarantor to be included. If so, you will require their full name, their address and their occupation.

Interview time

You should be able to complete the interview and have your document within 15 – 25 minutes.

Document length

Approximately 2-4 pages long.

Document type


This interview will generate a document based on the information provided by you. It does not and is not intended to represent legal advice or the practice of law (even if the information you input is based on suggestions or tips provided by us).

Please note: if you want professional assurance that this template and your interpretation of it is appropriate to your particular situation, we recommend that you consult with a lawyer authorised to practice law in your jurisdiction.