Affidavit Of Debt

Affidavit Of Debt Template for Singapore

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Key Requirements PROMPT example:

"I need an Affidavit of Debt to recover an outstanding business loan of $250,000 from a Singapore-based company that has defaulted on payments since January 2025, including documentation of three failed payment attempts and accrued interest."

Document background

An Affidavit of Debt is a crucial legal document in Singapore's debt recovery process. This sworn statement is typically used when initiating legal proceedings to recover unpaid debts or during bankruptcy proceedings. The document requires the deponent to provide detailed information about the debt, including its origin, amount, payment history, and current balance. The Affidavit of Debt must be executed in accordance with Singapore's legal requirements, including proper verification before a Commissioner for Oaths. It serves as primary evidence in court proceedings and forms the basis for various debt recovery actions under Singapore law.

Suggested Sections

1. Personal Details of Deponent: Name, NRIC/passport number, address, and occupation of person making the affidavit

2. Relationship to Debt: Deponent's authority to make statements about the debt

3. Debt Details: Original amount, date incurred, purpose, and current balance

4. Payment History: Record of payments made and remaining balance

5. Verification Statement: Declaration of truth of statements made

Optional Sections

1. Interest Calculations: Details of interest charges and calculations when applicable to the debt claim

2. Previous Proceedings: Details of any prior legal actions or collection attempts related to this debt

3. Security Details: Information about any collateral or security held against the debt

Suggested Schedules

1. Statement of Account: Detailed breakdown of debt calculations and current balance

2. Original Loan Agreement: Copy of the original contract or agreement establishing the debt

3. Payment Records: Documentary evidence of all payments made and received

4. Correspondence: Relevant communications regarding the debt and collection attempts

5. Supporting Documents: Any additional evidence supporting the debt claim

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Finance
Credit and Collections
Legal Services
Real Estate
Commercial Trading

Relevant Teams

Legal
Finance
Credit Control
Risk Management
Accounts Receivable

Relevant Roles

Credit Manager
Collections Officer
Legal Counsel
Finance Director
Accounts Receivable Manager
Risk Manager

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Authors

Alex Denne

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