Q: Is Novation agreement possible without original debtor?
I’m a creditor.
Original debtor John cannot be reached at all.
His relative Michael is willing to take over the debt through installments, and he wants to do an agreement which guarantees that John’s debt is transferred to him, so John is no longer owes me(creditor) anything.
Problem is Michael also cannot reach him at all.
So, is Novation agreement possible without John(original debtor)?
If not, what kind of agreement/process should we do?
A: You can assign debt from one debtor to another, but the problem is if you cannot find the one willing to take on John's debt you won't be able to get the assignment completed/signed. You might need to hire an investigator/skip tracer to find Michael first.
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