Assignment of Debt as Security - No Interest Permitted

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. (continued ...)