Creditor's consent is required in substitution of the debtor

By Persida Acosta

Feb 12, 2024 12:01 am

Dear PAO,

A few years ago, I obtained a loan from a lending company. I have paid about 80 percent thereof. For the remaining 20 percent, my colleague and I had an agreement that she would be the one to pay it, as her payment for the money she borrowed from me a few months ago. For this arrangement, do I still need the lending company's approval?

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