Free Agreement to Extend Debt Payment Template

Are you negotiating with a debtor regarding an extension of their owed payments? Our Agreement to Extend Debt Payment Template is bound to come in handy for such an event. Take full advantage of its strict and professional formatting, as well as its suggestive content to strike the right kind of deal. Know that you are fully capable of making edits to this amazing product due to the high level of customizability it affords you. Choose from its selection of file formats and get this as an instant download today! We guarantee you will not regret making this decision in the slightest!

AGREEMENT TO EXTEND DEBT PAYMENT

This Agreement is made on the [DAY] of [MONTH], [YEAR].

BETWEEN:

CREDITOR [NAME], an individual living at [ADDRESS] organized under the laws of the [COUNTRY/STATE/PROVINCE]. 

AND: 

 B. [COMPANY NAME], a company organized under the laws of [COUNTRY/STATE/PROVINCE 1]. 

     WHEREAS: 

Both the company and the creditor agreed that [COMPANY NAME] is indebted amounting [NUMBER] to [NAME]. The amount is said to be due now and payable. Furthermore, [NAME] agrees to provide a payment extension of the debt. 

The following are agreed:

[NAME] agrees to the extended payment as well as the balance that is still unpaid [PERCENTAGE] per [DETAILS]. This should be payable through the following:

[DETAIL 1]
[DETAIL 2]
[DETAIL 3]
[DETAIL 4]

[COMPANY NAME] agrees to pay the debt amounting to [NUMBER 1].
 This should include the interest. 
If in case [COMPANY NAME] cannot comply in fully paying the indebted amount on the due date, [NAME] shall have the full rights to collect the overall balance. 
[COMPANY NAME] agrees to pay all sums of collection in the event of default. 

This Agreement shall be binding upon the parties’ benefit as well as their successors and assignees. 

Both parties have signed this Agreement on [DATE]. 

[NAME]                                                             [COMPANY NAME]
[POSITION]                                                   [NAME 1]

[ ADDRESS]                                                       [ADDRESS 1]