Agreement to Extend Debt Payment

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Agreement to Extend Debt Payment

Agreement to Extend Debt Payment

Creditor Information

{{creditor_company_name}}

{{creditor_company_address}}

Phone: {{creditor_phone}}

Email: {{creditor_email}}

Website: {{creditor_website}}

Debtor Information

Debtor Name: {{debtor_name}}

Debtor Address: {{debtor_address}}

Debtor Phone: {{debtor_phone}}

Debtor Email: {{debtor_email}}

Original Debt Details

This Agreement pertains to the original debt incurred by the Debtor to the Creditor on or about {{original_agreement_date}}, for the principal amount of {{original_debt_amount}} {{currency}}.

The original debt is documented under {{original_agreement_reference}} (e.g., Loan Agreement, Invoice Number, Promissory Note).

Agreement to Extend Payment

Effective as of {{agreement_date}}, the Creditor hereby agrees to extend the due date for the payment of the outstanding principal balance of {{outstanding_principal_balance}} {{currency}}.

The original due date of {{original_due_date}} is hereby superseded by the New Payment Due Date of {{new_payment_due_date}}.

Revised Payment Schedule (if applicable)

The Debtor agrees to make payments according to the following revised schedule:

• Installment Amount: {{installment_amount}} {{currency}}

• Payment Frequency: {{payment_frequency}} (e.g., weekly, monthly)

• First Payment Due: {{first_revised_payment_date}}

• Final Payment Due: {{final_revised_payment_date}}

Interest and Fees

Interest shall continue to accrue on the outstanding principal balance at the rate of {{interest_rate}}% per annum from {{interest_start_date}} until the debt is fully paid.

Any late payment fees as stipulated in the original agreement may still apply if payments are not made according to this revised schedule. {{other_fees_details}}

Conditions of Extension

This extension is granted on the express condition that:

1. All terms and conditions of the original agreement, unless expressly modified herein, remain in full force and effect.

2. The Debtor acknowledges the full outstanding debt and its obligation to repay it.

3. In the event of default on this extended payment schedule, the Creditor reserves all rights and remedies available under the original agreement and applicable law.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{governing_country}}. Any disputes arising under or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{governing_country}}.

Signatures

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

_____________________________

For and on behalf of {{creditor_company_name}}

Name: {{creditor_signatory_name}}

Title: {{creditor_signatory_title}}

_____________________________

{{debtor_name}}

Date: {{signature_date}}