Debt Payment Agreement letter is a letter where the debtor writes to the creditor stating the reasons for not being able to repay the debt. The reason could be anything, for instance, the debtor could be financially unstable in the present situation or he might need to extend the debt payment deadline as he does not have enough money to pay within such a short duration. So while writing the letter make sure that you clearly specify the reason for not being able to pay the debt. The letter must be written in a positive tone informing the creditor that you cannot afford to pay the amount at present, but you are trying your best to accumulate the required amount and a little more time would help.
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Tips to Write a Payment Agreement Letter
How to Write a Payment Agreement (with Pictures) - wikiHow
Sample Letters. How to Write an Agreement for Payment. How to Write an Agreement for Payment with Sample Use this sample agreement for payment letter as a template for your formal agreement letter. The letter should include how and when the repayments will be made as well as any penalties if the promisor defaults on payments. Loaning money is a business transaction and should be treated as such.
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Last Updated: August 12, References. This article was co-authored by Clinton M. Sandvick, JD, PhD.