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Assign a debt from one party to another with this Agreement to Assume Debt form for the UK.The new debtor will assume the debt from the existing debtor, and pay the debt upon terms set out in the Agreement.If the new debtor defaults in payment, the creditor will have full rights to bring action jointly and severally against both debtors for payment of the outstanding balance.The form is fully editable and can be easily customised to fit your needs.This United Kingdom Agreement to Assume Debt template is provided as a Microsoft Word form download.