Assignment of Debt as Security - Interest Permitted

This Assignment of Debt as Security with 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, amount of new loan and that interest will be paid. It is vital that this type of assignment be clearly set out in writing. A written Assignment of Debt as Security (With Interest) will prove valuable if there are disagreements or misunderstandings between the parties. (continued ...)