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Payment Arrangement Agreement

Document an agreed repayment plan between creditor and debtor.

Overview

A Payment Arrangement Agreement is a simple written record of an agreed plan to repay an outstanding debt by instalments. It sets out the parties, the original amount owing and a schedule of payments.

It is useful when both sides have agreed to a repayment plan and want to record the terms in writing to avoid later misunderstandings.

Use this template when a debtor has agreed to pay off a debt in instalments over time.

Before You Begin

Gather the following information before adapting this template:

  • 1Full names and contact details for both the creditor and debtor
  • 2The original amount owing and any reference or invoice number
  • 3The agreed instalment amounts and due dates
  • 4The payment method to be used
  • 5What will happen if an instalment is missed

Example Template

This is an example only. Replace each highlighted placeholder with your own details, then copy the template into your preferred document editor.

Payment Arrangement Agreement

Between [Creditor Name] and [Debtor Name]

Creditor

Name:
Address:
Phone:
Email:

Debtor

Name:
Address:
Phone:
Email:

Original Amount Owing: $

Debt Reference / Invoice No:

Agreement Date:

Agreed Repayment Plan

Instalment No.Due DateAmountPayment Method

Default

If any instalment is not paid by its due date, the full outstanding balance may become immediately payable, and the creditor may refer the matter for professional debt recovery or, if necessary, legal proceedings.

Creditor Signature

Date:

Debtor Signature

Date:

Disclaimer

Important: This template is provided as a general educational example only. It is intended to demonstrate typical wording and document structure. It must be reviewed and adapted to suit your own circumstances before use. It does not constitute legal advice and should not be relied upon as legal advice.