New York Stipulation of Settlement and Affidavit Upon Default is an important document that must be filed with the court to resolve a debt collection lawsuit. This document is used by a creditor to enter into an agreement with the debtor to settle the debt. The creditor and debtor agree to a payment plan or surrender of assets in exchange for a release of the debt. This document also includes an affidavit that attests that the debtor has defaulted on the debt. There are two types of New York Stipulation of Settlement and Affidavit Upon Default: the Stipulation of Settlement and the Affidavit Upon Default. The Stipulation of Settlement outlines the terms of the agreement between the creditor and debtor. This document includes the payment plan or surrender of assets the debtor agrees to in order to settle the debt. The Affidavit Upon Default attests that the debtor has defaulted on the debt and is used to secure a judgment against the debtor.