Simple Debt Settlement Agreement Letter Sample and Format. Letter of Agreement to Compromise Debt Template - Download Word Agreement Template.
Compromise Debt Agreement Letter Sample, Template
Date: January 11, 2022 To,
Dear Mr. Henry,
We are writing this letter to compromise the indebtedness due on the terms and conditions shared below:
The company and the undersigned acknowledge that the value of the present debt is $ 5424.
The parties agree that the undersigned will accept the sum of $ 2400 as fun and complete payment on the debt and in complete discharge of the money that is presently due, if the sum mentioned above is paid punctually in the manner shared here:
The sum will be paid in three installments of $800 each.
Each installment will be paid on the 10th of every month from February 2022 onwards.
In case the company fails to pay the reduced sum punctually then the undersigned creditor will have complete rights for prosecuting the claim for the total debt dues.
This agreement shall be binding upon to the advantages of the parties and their successors along with their representatives.
Signature of the creditor: