Acknowledgement of debt
An acknowledgement of debt is a written statement by which one person (the debtor) acknowledges owing a sum of money to another (the creditor) and undertakes to repay it. It is essential evidence in the event of a dispute. To be fully valid, it must state the amount in figures and in words and be dated and signed by the debtor. Above 1,500 euros, a written document is required to prove the existence of the loan. This form is in English, but the document is generated in French, ready to sign and use in France.
Note: the questionnaire is in English; the generated document is in French.
The creditor (lender)
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Frequently asked questions
Does an acknowledgement of debt have to be handwritten?
No, it can be typed. The law mainly requires that the amount appear in figures and in words, and that the document be dated and signed by the debtor. If the two differ, the amount in words prevails.
Do I need a notary?
No, a private acknowledgement of debt (between the parties, without a notary) is valid. Using a notary or registering it with the tax authorities is not mandatory but gives it a certain date and strengthens its evidential value.
Must I declare the loan to the tax authorities?
Yes. Any loan whose amount exceeds 5,000 euros must be declared to the tax authorities via form no. 2062, attached to the income tax return, by both the debtor and the creditor.
Can interest be provided for?
Yes, provided it is stated in writing. The rate must not exceed the usury rate set by the Banque de France. Without a mention of interest, the loan is deemed to be free of charge.
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