Letter Agreement on Repayment Schedule

Letterhead

{{company_name}}

{{company_address}}

Phone: {{company_phone}}

Email: {{company_email}}

Website: {{company_website}}

Date and Parties

Date: {{current_date}}

Attn: {{debtor_name}}

{{debtor_address}}

Dear {{debtor_name}},

This Letter Agreement ('Agreement') confirms the revised repayment schedule for the outstanding debt ('Debt') owed by {{debtor_name}} (the 'Debtor') to {{company_name}} (the 'Creditor'), effective from the date first written above.

Original Debt Details

The Debt, amounting to {{original_debt_amount}} {{currency}}, arose from {{description_of_original_debt_or_agreement}}, dated {{original_debt_agreement_date}}.

Revised Repayment Schedule

Notwithstanding the terms of the original agreement, the Debtor and Creditor hereby agree to the following revised repayment schedule for the outstanding principal amount of {{outstanding_principal_amount}} {{currency}}:

1. The Debtor shall make {{number_of_payments}} monthly payments of {{monthly_payment_amount}} {{currency}} commencing on {{first_payment_date}} and continuing on the {{day_of_month}} day of each subsequent month until the Debt is fully repaid.

2. An interest rate of {{interest_rate_percentage}}% per annum shall be applied to the outstanding balance, calculated {{interest_calculation_method}}.

3. The final payment, which may include any remaining principal and accrued interest, shall be made on or before {{final_payment_date}}.

Terms and Conditions

1. All payments shall be made in {{currency}} to {{payment_method_details}}.

2. In the event of a default in payment, the Debtor shall be subject to a late payment penalty of {{late_payment_penalty_amount}} {{currency}} or {{late_payment_penalty_percentage}}% of the overdue amount, whichever is higher.

3. This Agreement does not constitute a waiver of any rights or remedies available to the Creditor under the original debt agreement, except as expressly modified herein.

4. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

Acceptance

Please signify your acceptance of these revised terms by signing and returning a copy of this Letter Agreement.

Sincerely,

{{creditor_company_name}}

Signature Block

___________________________

By: {{creditor_authorized_signatory_name}}

Title: {{creditor_signatory_title}}

Date: {{creditor_signature_date}}

------------------------------------------------

ACCEPTED AND AGREED:

___________________________

By: {{debtor_name}}

Title: {{debtor_title_if_applicable}}

Date: {{debtor_signature_date}}