Once a borrower repays their debt, there isn’t a need to do anything else. However, if the borrower is only able to pay back a portion of the debt, the lender can use LawDepot’s ProductLink code="RELEAS" text="Release of Liability" to release them from their obligations under the Promissory Note. With this document, the lender states that they are satisfied with some level of compensation and agree not to pursue any legal actions against the borrower in relation to the debt.