A Debt Resolution Agreement is a legally binding contract between a debtor and creditor that outlines how the debt will be paid off. It lays out the steps that both parties will take to ensure that the debt is resolved in a timely manner and on favorable terms for both parties. The agreement typically includes details about payment schedules, amounts due, penalties for late payments, and other important conditions of the agreement. With a Debt Resolution Agreement, both parties can rest assured that their rights as creditors and debtors are respected and protected.