Without more context, this may or may not be accurate. An assignment, at least in AE, constitutes the act of transferring to someone else all or part of one's property, interest, or rights. Is that, even vaguely, what you mean by assignment?
Also, it may be okay to use "obligation" for "Schuld," but depending on the technical accuracy required in your translation, other terms might have to be considered, such as "debt," "accounts receivable," etc.
In short, one can assign debt, respectively the right to collect on that debt. Thus, your translation proposal might be alright, pending the above caveat.