This Assignment of Debt as Security with No Interest is between an assignor who agrees to assign a lender the debt as collateral for another loan. This assignment sets out the specific terms including the amount of both the debt and the new loan. It is imperative that this assignment be set out in writing. A written Assignment of Debt as Security will prove invaluable in the event of disagreements, misunderstandings or litigation between the parties.

This Authorization of Debt as Security (No Interest) includes:

• Parties: Sets out the names of the assignor, lender and the borrower;
• Assignment: Sets forth the amount of debt owed by borrower to assignor and that assignor agrees to assign lender the debt as collateral security, without interest;
• Signature: This authorization must be signed by all parties in the presence of witnesses.

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This attorney-prepared packet contains:

1. General Instructions
2. Assignment of Debt as Security (No Interest)

State Law Compliance: This form complies with the laws of all states