If the borrower dies before repaying the loan, the authorities will use their assets to pay the rest of the debt. If there is a co-signer, he is responsible for the debt. A credit agreement is more comprehensive than a debt instrument and contains clauses about the entire agreement, additional expenses and the modification process (i.e.: How to change the terms of the agreement). Use a credit agreement for high-rise loans or loans from multiple lenders. Use a debt account for loans that come from non-traditional lenders such as individuals or businesses instead of banks or credit unions. CONSIDERING the granting of credit to the lender lending certain funds (the “loan” to the borrower) and the borrower who will repay the loan to the lender, both parties agree to respect, respect and respect the commitments and conditions set out in this agreement: Make a loan agreement and make sure that the person who owes you money, and that you agree on the terms of the transaction. Credits often have interest, a lot of payments over time and provisions for what happens in case of late payment, default or any other problem that makes the money not repaid. When a loan is not repaid, the lender has information for the borrower that can be applied to the creditworthiness of the borrower and, in addition, the lender can use collection companies to recover the money owed to them.