All free templates · Finance and lending

Payment plan agreement

Agreeing to pay an existing bill or debt in instalments.

Use this templateOpens in Sealquill with the signature lines placed. Free plan, no card.

What you fill in

Creditor name
Debtor name
Amount
Describe the invoice or debt
Day
Date

Blanks are shown in [square brackets]. Edit the text in Sealquill before you send it; the PDF editor changes the real words.

Payment Plan Agreement

This Payment Plan Agreement is made between [Creditor name] (the "Creditor") and [Debtor name] (the "Debtor") as of the date of the last signature below.

1. Amount owed

The Debtor owes the Creditor [amount] for [describe the invoice or debt].

2. Instalments

The Debtor will pay [amount] on the [day] of each month, starting [date], until the amount is paid in full. The Debtor may pay early at any time without penalty.

3. Missed payments

If a payment is more than [10] days late, the Creditor may give notice that the whole remaining balance is due at once.

4. General

This agreement is governed by the laws of [state]. It is the entire agreement between the parties on its subject and may be changed only in writing signed by both. It may be signed electronically and in counterparts.

Creditor

Signature, name and date

Debtor

Signature, name and date

More finance and lending templates

This template is a general starting point and is not legal advice. Laws differ from place to place and every situation is different: have a lawyer review anything important before you rely on it.

Send it for signature in a few minutes.

Use this templateSigners need no account and can sign on a phone.